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Nigel TAYLOR Published
November 14025快排劫持服务 2025
Operating “best-in-class” spaces continues to give Land Securities (Landsec) an edge in a tough property market as sought-after addresses means demand for its London-centric portfolio continues to flourish.

How’s this for demand as seen in its half-year results: Central London (which accounts for two-thirds of its portfolio) saw occupancy numbers up 60 basis points to 96.5%, with its star West End portfolio operating at 99.6%.
Although there was no mention in the statement of specific retail-linked performances, and no mention at all of ops outside the capital (including the key Bluewater mall in Kent), the overall message remained upbeat.
Despite that aforementioned tough property market — especially in the offices segment – group earnings on an EPRA (European Public Real Estate Association) basis grew 0.5% to £198 million, thanks to “positive leasing, margin improvement and 2.8% [like for like] income growth”.
However the group also reported a pre-tax loss that inched up to £193 million after adjusting for lower property values.
Chief executive Mark Allan said: “Our high-quality, differentiated portfolio and focused capital allocation mean we continue to benefit… In retail, sales in our locations continue to outperform brands' overall sales growth, also driving further growth in occupancy and rents. Despite the challenges in the general economic outlook, we see no signs of these trends abating.”
Landsec also added it remains confident next year will see a bounce-back in its core markets helped by its strategy to cope with higher interest rates.
And it concluded: “Although the economic backdrop remains uncertain, demand for the best-in-class space has remained strong, hence we delivered further growth in occupancy, like-for-like income across our portfolio. We also completed our recent development programme, which is now 83% let or in solicitors' hands, with rents 12% ahead of initial expectations.”