Land Securities is stepping up its development programme from £650m to £1.05bn in what The Times calls “one of the biggest development pushes in history”.
Its development book has climbed to more than 575,980 sq m (6.2m sq ft) with the focus on regenerating town centres. Projects include the £800m redevelopment of Birmingham’s Bull Ring and a 46,450 sq m (500,000 sq ft) mixed-use scheme in Victoria, London. It is working on 23 city centre schemes in total. It plans to sell smaller properties and others which do not fit in with its strategy of dominating town centres.
The company reported annual pretax profits up £27.3m to £293.3m.
Financial Times 27/05/99 page 20 (Lex), page 24
The Daily Telegraph 27/05/99 page 38
The Times 27/05/99 page 50 (Tempus), page 52
The Independent 27/05/99 page 25 (The Investment Column)
