Find a space
Whether you need a retail space to rent in Leeds or an office to rent in London, we’ve got the commercial property to fit your needs. Or dive into our regeneration projects that are bringing new life to towns and cities around the UK.
Introducing Below The Lights
Below The Lights opened in summer 2024 in the heart of London - under the famous Piccadilly Lights.A unique Spotlight space for immersive events, Below The Lights is a place where brands can create memorable experiences and incredible media campaigns.
About
We build and invest in buildings, spaces and partnerships to create sustainable places, connect communities and realise potential.
Impact report
Our 2022 impact report deep dives into the ways our places and activities are making a difference across the UK. From our economic contributions to the social and sustainable value we deliver, we recognise that the consequences of the actions we take as an organisation are both far-reaching and long-lasting.
The potential of sustainable retail
Sustainable retail has the potential to boost local UK economies by nearly £100m and grow brand revenues by up to 13%.
Investors
Discover the strategy that drives our success, as we create sustainable value for our three types of investor: institutional, private and debt.
Half Year Results 2024
Land Securities Group PLC announced its half year results for the six months ended 30 September 2024 on Friday 15 November 2024
Creating valuable places
We enter the coming year with a renewed sense of clarity and purpose.
Sustainability
We're working to enhance the health of our environment and improve quality of life for our people, customers and communities - now, and for future generations.
Landsec Futures
Landsec Futures is a £20m fund that aims to deliver around £200m of social value by 2030, supporting at least 30,000 people from underrepresented socio-economic backgrounds towards long-term employment. It will also provide the chance to increase the diversity of talent across the industry and in our business.
We are working to Let Nature In
We’re letting nature into the design, development, and management of our spaces. We’re improving biodiversity; promoting health, wellbeing and community engagement by creating green spaces; and creating nature-based solutions to mitigate and adapt to climate change.
Careers
Life at Landsec
We're shining a spotlight on some of the inspirational people that work for us as part of our Life at Landsec series.
Media & Insights
Reverse mentoring for an inclusive future
Earlier this year, nine executive leadership team members (ELT) were each paired with a more junior colleague for a six-month reverse mentoring opportunity.
The global pandemic had a significant impact on our business, our customers, and our other stakeholders – though we remained responsive and supportive throughout.
However, looking ahead, we see opportunities. With our scale, experience, skills and portfolio, and with a positive purpose as an ambition, we can help shape the new landscape. In this way we will grow, with purpose.
Our results for the year to March 2021 clearly reflect the challenges of the pandemic, with lockdowns meaning the vast majority of our portfolio was either closed or substantially unoccupied for over half the year. However, from the very first lockdown we have focused on ensuring our business can emerge from the pandemic in as strong a position as possible. As a result of this approach, Landsec is poised for recovery, with a strategy that positions the business for long-term growth.
27.0p
Dividend per share, up 16.4%
33.9p
Adjusted diluted earnings per share (2020: 55.9p)
985p
EPRA net tangible assets per share, down 17.4%
-15.9%
Total business return (2020: -8.2%)
£(1,393)m
Loss before tax (2020: £(837)m)
£6.5m
Social value created during the year
This year, we focused on two clear outcomes.
The first was to do everything we could to ensure Landsec emerged from Covid-19 in as strong a position as possible. Our response for our customers, people, communities and partners was rapid, flexible and always with safety at its heart. While our rental income and profits were down, we have ensured our business remains healthy, and have retained strong relationships with our customers.
The second was to re-examine the purpose, strategy and culture that will position us to achieve growth and make the most of Landsec’s undoubted potential. Covid-19 has accelerated trends in retail and offices, and we have formed a clear strategy that responds to these trends.
Read more
We have a positive purpose as an ambition. We believe it will attract more customers, talented people, valued partners. With this purpose as its foundation, our new strategy aims to grow value for Landsec and all our stakeholders.
The strategy comprises four priority areas - Optimise, Reimagine, Grow and Realise. The more we grow through our strategy, the closer we will come to truly achieving our purpose. In this way we will grow, with purpose.
We aim to optimise our assets in central London. By this, we mean taking steps towards greater alignment with growth sectors and districts in the capital, evolving a broader range of propositions for our customers, continually deploying our development expertise, and taking a prudent approach to selling assets to fund long-term growth.
We will reimagine our regional retail business. Our outlets have solid growth potential. However, there is an opportunity to significantly reshape the models of our six regional shopping centres – understanding sustainable rent levels for these customers is fundamental to our approach.
We will target enhanced returns through significant investment in mixed-use urban opportunities, both from within our portfolio and through new investments in London and potentially other major UK cities.
We intend to realise capital from sectors where we don’t have scale or competitive advantage on our side, such as leisure, hotels and retail parks. Although these sectors have potential, our capital is better deployed elsewhere. We will therefore dispose of these assets in a managed way over time.
Our strategy comprises four priority areas
Broadening our resilient central London proposition
Re-evaluating retail models
Opportunities for growth in evolving urban environments
Redeploying capital to invest in growth
While undertaking our strategic review, we also drew on significant input from people across our business to arrive at clarity on our purpose and culture. The result is an authentic purpose, a strategy agreed by the whole business, and a culture our people recognise, support and unite within. Our culture defines how we do things, how we behave, and how our leaders can inspire and motivate. It provides a common language to enable our people to thrive and harness their potential. So our culture is as important as our strategy.
Despite a temporary drop in the rate of greenhouse gas emissions, caused by lockdown restrictions, climate change is still the top priority for governments and forward-looking businesses. Investor requirements for disclosing climate-change risks and opportunities keep increasing, and our customers are setting ambitious climate commitments of their own.
During 2020, Landsec has been encouraging our industry to move forward in its response to the climate emergency. We’ve published our net zero carbon pathway, in line with the Better Buildings Partnership Climate Change Commitment, outlining our plans for net zero carbon for both our new and existing buildings.
Social value is a way of describing how businesses can benefit people, communities and society as a whole. At the start of 2019, we set a target of creating £25m worth of social value by 2025 through four programmes: community employment, education, charity partnerships and volunteering. At the end of the second year of this target, we’d created over £11m worth of social value. The pandemic has accentuated the inequalities in society and highlighted the importance of our social initiatives and, despite its challenges, we’ve continued to invest where we can have the greatest impact.
The last year was dominated by the impacts of the pandemic: most offices in London remained open though under-used, while food and beverage, leisure and hotels were hit hard. The impact was not uniform across the retail sector, with outlets, retail parks and centres with essential retail still relatively resilient. Central London retail was badly affected. However, while Covid-19 had immediate effects, it also accelerated or decelerated changes that have long been coming, and you can read here about six global forces of change that informed our strategy and will affect our business in the coming years.
We focus on maximising financial, physical and social value by providing the spaces and environments that allow businesses and people to thrive. Our Combined Portfolio includes office space in London, and retail, leisure and hotel assets across the UK.
Good governance is vital in any year, but this year it has been a critical foundation for Landsec’s response to Covid-19, providing a framework for effective decision-making and addressing the changing needs of our stakeholders.
We set financial and non-financial KPIs in line with our strategy. They provide clear direction for our people and a measure of our progress in 2021.
Strong corporate governance and culture underpins performance, inspires trust and is essential to Landsec’s long-term success.
Investor Relations - equity
+44 (0) 20 7413 9000
