REG - Land Sec. Group PLC - Landsec completes the sale of 21 Moorfields

Land SecuritiesAnnouncement

26/09/2022 15:45

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RNS Number : 6834A  Land Securities Group PLC  26 September 2022

26 September 2022

 

Land Securities Group PLC ("Landsec")

 

 

Landsec completes the sale of 21 Moorfields for £809m

 

Further to the announcement made on 21 September 2022, Landsec confirms the
completion of the sale of 21 Moorfields, EC2, to an investment vehicle managed
by global real estate and investments group, Lendlease.

 

As per last week's announcement, the sale is in line with Landsec's strategy
to recycle capital out of mature London offices, crystallises a 25% profit on
cost and further strengthens Landsec's strong financial base, reducing the
company's loan to value from 34% to 30% based on a pro-forma March 2022
balance sheet.

 

Completion took place today on the terms previously outlined and there has
been no significant change affecting any matter contained in the earlier
notification and no other significant new matter has arisen between exchange
and completion.

 

 

Ends

 

 

 Please contact:
 Press                                                       Investors
 Sara Doggett                                                Edward Thacker
 +44 (0)7834 431258                                          +44 (0) 7887 825869
 sara.doggett@landsec.com (mailto:sara.doggett@landsec.com)  edward.thacker@landsec.com (mailto:edward.thacker@landsec.com)

 

 

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