The largest listed property company in Britain has defended its decision to “batten down the hatches” last year in the face of Brexit uncertainty.
However, Landsec said yesterday that it may reverse that decision shortly and renew its commitment to building so-called speculative developments.
The company formerly known as Land Securities, which developed the ‘Walkie Talkie’ tower (pictured), raised the prospect of a volte-face after announcing its first pre-tax loss since the financial crisis.
It suffered a loss of £251m in the year to the end of March, it said, compared with a pre-tax profit of £112m a year earlier.
