Landsec | |
Company type | Public limited company |
LSE: LAND FTSE 100 Component | |
Industry | Property |
Founded | 1944 |
Headquarters | London, England, UK |
Key people |
|
Products | property development, property investment |
Revenue | £766 million (2024) [1] |
£462 million (2024) [1] | |
£(341) million (2024) [1] | |
Website | landsec |
Land Securities Group plc, trading as Landsec, is the largest commercial property development and investment company in the United Kingdom. The firm became a real estate investment trust (REIT) when REITs were introduced in the United Kingdom in January 2007. [2] It is headquartered in London, England, and traded on the London Stock Exchange, and is a constituent of the FTSE 100 Index. [3]
The company traces its origins to 1944, when its founder Harold Samuel purchased Land Securities Investment Trust Limited, which owned three houses in Kensington and some government stock. [4] Further acquisitions followed shortly afterwards and from 1947 the company concentrated on commercial property. [4] In the early days some non-UK investments were acquired, but in 1971 these were sold off and the company decided to focus solely on the UK market. [4] The company name was changed to Land Securities plc in 1982. [4]
After buying Trillium in 2000, [5] in 2002 it formed a 50/50 joint venture company (Telereal Trillium) with William Pears Group (WPG) to buy the property portfolio of British Telecom: [6] after selling its shares in Telereal to WPG in 2007, Land Securities sold Trillium to WPG in 2009. [7]
On 31 March 2012, Francis Salway was succeeded as chief executive by Robert Noel. Noel was managing director of the company's London properties, having joined Land Securities in January 2010 from Great Portland Estates plc. [8]
On 12 June 2017, Land Securities rebranded as Landsec, although the registered company name remained Land Securities Group PLC. [9]
In 2019, Landsec launched a series of open plan offices under the brand "Myo". The first Myo office opened that year, at 123 Victoria Street, London, followed by the second Myo office, at Liverpool Street, in May 2021. [10]
In November 2020, amid the COVID-19 pandemic in the United Kingdom, Landsec announced plans to sell £4bn of assets in the next four to five years, including hotels, leisure properties and retail parks affected by pandemic. [11]
In November 2021, Landsec announced it was to acquire urban regeneration specialist U+I for £190 million. [12]
In December 2021, Landsec increased its 30% ownership in the Bluewater Shopping Centre by acquiring a further 25% share from Lendlease Retail Partnership for £172m. At the same time Landsec confirmed the sale of 25% of the newly acquired shares to M&G, one of Bluewater’s co-owners. Landsec’s overall share increased to 48.75%. [13] [14]
Landsec owns and manages more than 24,000,000 sq ft (2,200,000 m2) of commercial property, from London offices and high street shops to major shopping centres and out-of-town retail parks. On 31 March 2024 the company's property portfolio was valued at £9.8 billion. [1] The company owns the Piccadilly Lights in Piccadilly Circus in London. [15] It has also led Project Nova, the development of the area around London Victoria station. [16]
In 2010, Landsec purchased a number of tenement blocks in Victoria, central London, which had previously been used as a homeless shelter, and subsequently received multiple planning permissions for the site. [17] [18] [19] As of 2021, after the buildings had remained empty for over a decade, the company said it planned to convert the buildings into flats. [19]
On 8 May 2021, for World Ovarian Cancer Day, Landsec participated in the Cure our Ovarian Cancer Foundation's international awareness campaign. Their spot "An ad you can't miss, for a cancer you do", which shows 30 women who had been diagnosed with ovarian cancer, was screened at Piccadilly Circus, London, and Time Square, New York City. [20] [21] The spot was a pro bono production by Topham Guerin with Landsec and JCDecaux sponsoring the screening space. [22]
Piccadilly Circus is a road junction and public space of London's West End in the City of Westminster. It was built in 1819 to connect Regent Street with Piccadilly. In this context, a circus, from the Latin word meaning "circle", is a round open space at a street junction.
Regent Street is a major shopping street in the West End of London. It is named after George, the Prince Regent and was laid out under the direction of the architect John Nash and James Burton. It runs from Waterloo Place in St James's at the southern end, through Piccadilly Circus and Oxford Circus, to All Souls Church. From there Langham Place and Portland Place continue the route to Regent's Park.
Bluewater Shopping Centre is an out-of-town shopping centre in Stone, Kent, England, just outside the M25 motorway ring, 17.8 miles (28.6 km) east south east of London's centre. Opened on 16 March 1999 in a former chalk quarry after ten years of building works, the site occupies 240 acres (97 ha) and has a sales floor area of 154,000 m2 (1,600,000 ft2) over three levels, making it the fifth-largest shopping centre in the UK. Elsewhere in Europe only Istanbul's Cevahir Mall and Vienna's (Vösendorf) Shopping City Süd are bigger. The floor plan is a triangular shape with 210 stores, including 3 anchors, 50 cafés and restaurants, and a 17-screen cinema. The centre employs 7,000 people and serves over 27 million visitors a year. A main rival is the Lakeside Shopping Centre and its two retail parks in West Thurrock, Essex, just across the River Thames, 8 miles (13 km) away by road or 3.2 miles (5.1 km) as the crow flies.
TK Maxx is a subsidiary of the American apparel and home goods company TJX Companies. The stores operate throughout the United Kingdom, Australia, Ireland, Germany, Poland, Austria and the Netherlands, totalling 629 stores in Europe and 56 in Australia in May 2020. In Poland, there are a total of 44 stores. The chain uses a slightly different name from that of the TJ Maxx stores in the United States, to avoid confusion with the British retailer T. J. Hughes.
The British Land Company Public Limited Company is one of the largest property development and investment companies in the United Kingdom. The firm became a real estate investment trust when REITs were introduced in the UK in January 2007. It is headquartered in London, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index and a founding member of the European Public Real Estate Association.
Southside Wandsworth is a shopping centre in the district of Wandsworth in London, England. When it was built it was the largest indoor shopping centre in Europe and is currently the fifth largest indoor shopping centre in London after Westfield Stratford City, Westfield London, the Whitgift Centre and Brent Cross Shopping Centre.
Hammerson plc is a major British property development and investment company. The firm switched to real estate investment trust (REIT) status when they were introduced in the United Kingdom in January 2007. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index; it is also a constituent of the FTSE EPRA/NAREIT Developed Europe index, among others. The majority of Hammerson's portfolio is in the United Kingdom, but it also operates in continental Europe, including operations in France, Ireland, Spain, and Germany. It invests mainly in offices and retail premises.
The Galleries is a shopping mall situated in the Broadmead shopping centre in Bristol city centre, England. Functioning as one of the city's retail malls, it is a three-Storey building, which spans over Fairfax Street.
The O2 Centre is an indoor shopping and entertainment centre that is open for around 18 hours per day located on Finchley Road in North West London, near Hampstead, England.
SEGRO plc is a British property investment and development company. It develops and invests in property located in the UK and Continental Europe focusing on edge of town flexible business space. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007. The company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
St Martins Property Investments Limited is a property development, investment and asset management company based in the United Kingdom representing the real estate interests of the State of Kuwait with their headquarters in London Bridge City, London. The company is wholly owned by the Kuwait sovereign wealth fund, Future Generations Fund.
Derwent London is a British-based property investment and development business. It is headquartered in London and is a constituent of the FTSE 250 Index.
Witchery is an Australian fashion label specialising in women's clothing, shoes and accessories. Part of the Country Road Group, Witchery operates stores across mainland Australia, New Zealand and concession stores in Myer, David Jones, and Woolworths South Africa. Based in Burnley, Victoria, Australia, the company has its flagship store located at Chadstone Shopping Centre, a suburb of Melbourne, Australia. The company is a supporter for Ovarian Cancer Australia.
Telereal Trillium – now TT Group – is a commercial property investment, development and management company, headquartered in central London, England. The majority ownership of TT Group is privately held by three funds settled under the Bernard Pears 1967 Family Trust. The minority ownership of TT Group is held by an Employee Benefit Trust.
Robert Montague Noel is a British businessman, and the chairman of Hammerson since September 2020. He was the chief executive (CEO) of Land Securities, the largest commercial property company in the UK, from 2012 until March 2020.
Asif Aziz is a London-based billionaire entrepreneur and philanthropist. As the founder and Chief Executive of Criterion Capital, he is known for owning and operating key landmarks including the London Trocadero and Criterion Building in Piccadilly Circus. Aziz is also the founder of family based charity the Aziz Foundation.
William Pears Group is one of Britain's largest property companies, with £6 billion of property in London and south-east England.
NewRiver REIT plc is a specialist listed real estate investment trust (REIT), focused primarily on retail and leisure property. The company owns 33 shopping centres, 25 retail warehouses, 14 high street units and over 700 public houses. The company is listed on the London Stock Exchange.
Francis Salway is a British businessman. He was the chief executive officer of Land Securities from 2004 to 2012. He is the chairman of the Town and Country Housing Group.
Topham Guerin is an advertising agency company founded in New Zealand in 2016 by Sean Topham and Ben Guerin. The company is headquartered in Auckland and has offices in London and Sydney. It has worked on several high-profile political communications campaigns, including the 2019 Conservative Party election campaign in the UK.