Land Securities Group PLC - London-based property developer and investor - Says operational momentum continues within the central London portfolio. Since April 1, GBP20.8 million of rent has either been signed or is in solicitor's hands, on average 4% ahead of the estimated rental value in March 2022. Office occupancy creeps up to 95.5% currently from 95.3% in March.
Also, it notes continued interest in the company's committed developments. Four committed development schemes are now 63% pre-let or in solicitors' hands. Says an update will come during an investor's tour of the company's central London portfolio this afternoon.
Chief Executive Mark Allan says: "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."
Current stock price: 594.20 pence, up 0.6%
12-month change: down 16%
By Chris Dorrell; chrisdorrell@alliancenews.com
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Land Securities (LAND)