Land Securities narrowed annual losses to £341m due to higher occupancy and rental uplifts in retail and London, despite a 6% reduction in property portfolio value.
Land Securities narrowed its annual losses to £341m as rising occupancy and positive rental uplifts in retail and London offset the impact of higher interest rates. The UK's biggest commercial landlord, which owns some of the City of London's most valuable offices, said it has been hit by a 6% reduction in the value of its property portfolio to £9.96bn. Pre-tax losses for Land Securities plunged from £622m in 2022-23 to £341m for the year to 31 March 2024.
May 17, 2024
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