 | |
| Landsec | |
| Company type | Public |
| LSE: LAND FTSE 100 Component | |
| Industry | Property |
| Founded | 1944; 81 years ago (1944) |
| Headquarters | London, England, UK |
Key people |
|
| Products | |
| Revenue |  £766 million (2024)[1] |
 £462 million (2024)[1] | |
| £(341) million (2024)[1] | |
| Website | landsec |
Land Securities Group plc,trading asLandsec, is the largest commercialproperty development andinvestment company in the United Kingdom. The firm became areal estate investment trust (REIT) when REITs were introduced in the United Kingdom in January 2007.[2] It is headquartered inLondon, England, and traded on theLondon Stock Exchange, and is a constituent of theFTSE 100 Index.[3]
The company traces its origins to 1944, when its founderHarold Samuel purchased Land Securities Investment Trust Limited, which owned three houses inKensington and some government stock.[4] Further acquisitions followed shortly afterwards and from 1947 the company concentrated on commercial property.[4] In the early days some non-UK investments were acquired, but in 1971 these were sold off and the company decided to focus solely on the UK market.[4] The company name was changed to Land Securities plc in 1982.[4]
After buyingTrillium in 2000,[5] in 2002 it formed a 50/50joint venture company (Telereal Trillium) withWilliam Pears Group (WPG) to buy the property portfolio ofBritish Telecom:[6] after selling its shares in Telereal to WPG in 2007, Land Securities sold Trillium to WPG in 2009.[7]
On 31 March 2012, Francis Salway was succeeded as chief executive byRobert Noel. Noel was managing director of the company's London properties, having joined Land Securities in January 2010 fromGreat Portland Estates plc.[8]
On 12 June 2017, Land Securities rebranded as Landsec, although the registered company name remained Land Securities Group PLC.[9]
In 2019, Landsec launched a series of open plan offices under the brand "Myo". The first Myo office opened that year, at 123 Victoria Street, London, followed by the second Myo office, at Liverpool Street, in May 2021.[10]
In November 2020, amid theCOVID-19 pandemic in the United Kingdom, Landsec announced plans to sell £4 billion of assets in the next four to five years, including hotels, leisure properties and retail parks affected by pandemic.[11]
In November 2021, Landsec announced it was to acquireurban regeneration specialist U+I for £190 million.[12]
In December 2021, Landsec increased its 30% ownership in theBluewater Shopping Centre by acquiring a further 25% share from Lendlease Retail Partnership for £172 million. At the same time Landsec confirmed the sale of 25% of the newly acquired shares toM&G, one of Bluewater’s co-owners. Landsec’s overall share increased to 48.75%.[13][14]
Landsec owns and manages more than 24,000,000 sq ft (2,200,000 m2) of commercial property, from London offices and high street shops to major shopping centres and out-of-town retail parks. On 31 March 2024 the company's property portfolio was valued at £9.8 billion.[1] The company owns thePiccadilly Lights inPiccadilly Circus inLondon.[15] It has also led Project Nova, the development of the area aroundLondon Victoria station.[16]
In 2010, Landsec purchased a number oftenement blocks inVictoria, central London, which had previously been used as a homeless shelter, and subsequently received multipleplanning permissions for the site.[17][18][19] As of 2021, after the buildings had remained empty for over a decade, the company said it planned to convert the buildings into flats.[19]
On 8 May 2021, for World Ovarian Cancer Day, Landsec participated in the Cure our Ovarian Cancer Foundation's international awareness campaign. Their spot "An ad you can't miss, for a cancer you do", which shows 30 women who had been diagnosed withovarian cancer, was screened atPiccadilly Circus, London, andTime Square,New York City.[20][21] The spot was a pro bono production byTopham Guerin with Landsec andJCDecaux sponsoring thescreening space.[22]
|
