REG - Land Sec. Group PLC - Operational update and tour of Southwark

Land SecuritiesAnnouncement

21/09/2022 07:01

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RNS Number : 0593A  Land Securities Group PLC  21 September 2022

21 September 2022

 

Land Securities Group PLC ("Landsec")

 

Landsec operational update and tour of Southwark

 

Landsec ("the Company") will host a tour of its development opportunities in
Southwark at 3pm today. During the event, the Company will provide the
following operational and development update on its Central London portfolio,
a key pillar of the Company's growth strategy:

 

Operational momentum continues within the Central London portfolio

-      £20.8m of rent signed or in solicitors' hands since 1 April 2022,
on average 4% ahead of March 2022 ERV

-      Office occupancy now 95.5% compared with 95.3% at 31 March 2022

 

Continued interest in our committed developments

-      Further leasing progress with £5.9m of lettings in solicitors'
hands 10% ahead of ERV

-      Four committed development schemes now 63% pre-let or in
solicitors' hands (May 2022: 56%)

 

Landsec's tour of Southwark will aim to give investors a comprehensive
overview of what is a growing part of London. Landsec has four existing or
potential developments in Southwark - Timber Square, The Forge, Liberty of
Southwark and Red Lion Court - together forming a 1 million sq ft green office
cluster in the heart of Central London.

 

Mark Allan, Chief Executive, said: "Operational momentum within our Central
London portfolio and healthy interest in our committed developments support
our confidence in the outlook for the central London office market, even in
the face of what is a challenging economic and geopolitical environment.
Southwark is an area of London with strong growth potential and will be a
great home for the 1 million square foot green office cluster that we're
developing. We're very much looking forward to hosting investors on a tour of
the area later today."

 

Ends

 

 

 Please contact:
 Press                                                       Investors
 Sara Doggett                                                Ed Thacker
 +44 (0) 7834 431 258                                        +44 (0) 20 7024 5185
 sara.doggett@landsec.com (mailto:sara.doggett@landsec.com)  edward.thacker@landsec.com (mailto:edward.thacker@landsec.com)

 

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