12th Jul 2005 09:00
Land Securities Group Plc12 July 2005 12 July 2005 LAND SECURITIES GROUP PLC ("Land Securities") Land Securities secures London headquarters letting and purchases Kent fashionpark Land Securities today announces that it has agreed two major transactions inrespect of its London and retail portfolios. First, Land Securities has exchanged contracts with P&O for the letting of a newheadquarters at 16 Palace Street, part of the Cardinal Place development inVictoria, London SW1. Second is the completion of the purchase of Westwood Cross fashion park, inThanet, Kent from developer Carillion Richardson. Francis Salway, Group Chief Executive at Land Securities commented on thetransactions; "These two transactions represent a continuation of the high levelof transactions across the business. We are delighted to be attracting a numberof major corporates to our Cardinal Place development for their headquarters,and we are also pleased to be adding to our out of town retail portfolio with anasset which is already demonstrating strong levels of trading." P&O will occupy 3,065 sq m (33,000 sq ft) over the fourth and fifth floors at arental of £55 per sq ft. This office letting is the second in the overallCardinal Place mixed-use development and follows the recent 5,574 sq m (60,000sq ft) letting to 3i in April this year. In addition, the 9,290 sq m (100,000 sqft) retail and restaurant element of Cardinal Place is now 90% pre-let inanticipation of an Autumn 2005 opening. Westwood Cross is a 36,230 sq m (390,000 sq ft) newly developed out of townshopping centre which opened in June 2005 and has attracted a high qualityretail line up including Debenhams, Marks and Spencer and other high streetmultiples, with rents of up to £60 per sq ft. -ends- For further information please contact: Francis Salway/ Emma Denne Land Securities Group PLC + 44 20 7413 9000 Stephanie Highett Financial Dynamics +44 207 831 3113 Notes to Editors Land Securities Group PLC Land Securities is a FTSE 100 company, quoted on the London Stock Exchange. Ithas been at the forefront of the UK's commercial property industry for over 60years. Today, the Group maintains its market leading position as the UK'slargest quoted property company by providing commercial accommodation andproperty services to a wide range of occupiers. The Group's objective is tocreate attractive and sustainable returns for its shareholders through itsactivities, which include property investment, development and propertyoutsourcing. Land Securities holds a market leading position in three areas of the UKcommercial property market: • Retail, • London offices and • Property outsourcing. Its £9.4 billion combined investment portfolio includes over 10 million sq feetof office and retail space in Central London and 28 shopping centres and 31retail parks located across the UK. It has a substantial development programme with a number of development projectsincluding major retail-led urban regeneration schemes and Central Londonmixed-use developments. The Group is also masterplanning one of Europe'slargest regeneration schemes in Kent Thameside. The Group leads the market in property outsourcing where, through LandSecurities Trillium, it provides accommodation and property-related services tothe Department for Work and Pensions, the BBC, Norwich Union, Barclays Bank,DVLA and through a joint venture, Telereal, to BT. The Group is committed to environmental initiatives and community involvementrecognised by the Group's inclusion in the BiTC Corporate Responsibility Index,FTSE4Good Index and the Dow Jones Sustainability Index. For more information on Land Securities visit www.landsecurities.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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