One of Britain’s biggest listed property companies is drawing up plans to build flats above and around its shopping centres in an attempt to counteract the pressure on retail property valuations.
Landsec, which owns Trinity Leeds and Gunwharf Quays in Portsmouth, is working on a rental housing strategy to see how it can increase the income at its 16 shopping centres around the country with an initial focus on its London sites.
The FTSE 100-listed developer hopes to profit from the growing number of people who rent and boost the value of its shops, shopping centres and retail parks, which make up about 40% of its £14.1bn net assets.
