Landsec news and archive

Landsec to invest 17 million pounds into former Debenhams unit

Real estate group Landsec has submitted a planning application as part of a 17 million pound investment into transforming a former Debenhams unit at St David’s in Cardiff. The proposal builds on a targeted strategy of investment, Landsec said, as it looks to strengthen its portfolio of catchment dominant retail destinations. The move is in...

Retail

Landsec submits second planning application for Gunwharf Quays

Real estate firm Landsec has submitted its second planning application to the Portsmouth City Council in regards to its planned investment into Gunwharf Quays. The programme, valued at 45 million pounds, looks to build on the outlet shopping centre’s position in the UK market, as it looks to secure both new and returning guests in the coming...

Retail

Sustainable retail could boost UK economies by 100 million pounds, report says

Sustainable retail locations could help brands achieve double-digit revenue growth and inject almost 100 million pounds into local UK economies over the coming 10 years, according to a new report. New modelling, carried out by property giant Landsec and Bradshaw Advisory, found that brands opting to rent space in sustainable locations rather...

Report

Landsec COO to step down as company’s growth strategy develops

Land Securities Group (Landsec) has announced that its chief operating officer Colette O’Shea is set to leave the company from March 31, 2023, after a transitional period. It comes as the real estate business announced the next phase of its growth strategy, which it began implementing in 2020 under CEO Mark Allan. In a release, Landsec said it...

Report

Landsec reportedly in talks to take controlling stake in Bluewater Shopping Centre

Landsec is reportedly in talks to buy Landlease’s 25 percent stake in Bluewater Shopping Centre for a knockdown price of 200 million pounds. The two British property giants are close to agreeing on the deal, sources familiar with the talks told Property Week. If the deal goes through, it would bring Landsec’s stake to 55 percent, giving it...

Report

Landsec appoints new head of ESG and sustainability

British shopping centre operator Landsec has named Jennie Colville as its new head of ESG and sustainability. Colville has 20 years of experience working in sustainability and joins from Capita where she spent three years as responsible business director. Prior to that, she held various roles at both public and private sector companies including...

Report

Landsec collects just 65 percent of rent owed

British shopping centre operator Landsec has seen a year-on-year drop in collected rent for the final three months of the year as retailers struggle to make payments. The company announced Tuesday that 112 million pounds worth of rent was due on the 25 December payment date, but only 65 percent of that was paid, compared with 94 percent for the...

Report

Landesc reports widening half-year losses

British shopping centre operator Landsec has reported losses of 835 million pounds for the first half of the year, compared to 147 million pounds last year, as the business grapples with the impact of Covid-19. In the six months to 30 September, the company’s revenue profit fell 48.9 percent to 115 million pounds, while its like-for-like net...

Retail

St David’s launches ‘Made in Wales’ campaign

Landsec, joint owners of St David’s shopping centre in Cardiff, has launched a new initiative ‘Made in Wales’ aimed at supporting local retail businesses and entrepreneurs. The campaign has been designed to provide a local retail brand with a pop-up retail space for six months from October, including the Christmas period, within the St David’s...

Report

Landsec receives 60 percent of June rent, sees 'encouraging' footfall

Landsec said it received 60 percent of the net rent it was owed on 24 June and has seen “encouraging levels of footfall” since reopening its shopping centres, outlets and retail parks. The shopping centre operator said 60 percent of the 109 million pound net rent due on 24 June was paid within five working days, compared with 94 percent for the...

Report

Landsec takes 1.18 billion pound hit to property portfolio

Property firm Landsec has cut the value of its portfolio by almost 1.2 billion pounds as it continues to feel the impact of Covid-19. The company, which owns shopping destinations Westgate Oxford, Bluewater in Kent, Trinity Leeds and St David’s, has revealed that the value of its combined portfolio has fallen by 8.8 percent, around 1.18 billion...

Report

Landsec names Mark Allan as new CEO

Landsec, the property firm which owns shopping destinations Westgate Oxford, Bluewater in Kent, Trinity Leeds and St David’s, has appointed Mark Allan as its next chief executive officer. Allan, who is currently CEO of St Modwen Properties Plc, a role he has held since 1 November 2016, will take up the new position and become an executive...