{"id":5128,"date":"2025-05-23T09:17:00","date_gmt":"2025-05-23T08:17:00","guid":{"rendered":"https:\/\/intsin.pl\/?post_type=news&p=5128"},"modified":"2025-05-16T21:20:52","modified_gmt":"2025-05-16T20:20:52","slug":"5124","status":"publish","type":"news","link":"https:\/\/intsin.pl\/en\/news\/5124\/","title":{"rendered":"Landsec reduces office assets and shifts to residential construction"},"content":{"rendered":"\n

Program<\/strong>
Landsec plans a major sale of part of its office portfolio to finance a shift into residential property, which the company believes will provide more sustainable growth and lower volatility.<\/p>\n\n\n\n

According to its latest results, the FTSE 100-listed landlord intends to build a residential platform worth over \u00a32 billion by 2030.<\/p>\n\n\n\n

In its financial report for the year ending March 31, 2025, Landsec said it plans to execute the strategy by \u201credeploying\u201d \u00a33 billion of capital from office property, non-core investments, and low-yielding or loss-making development-phase assets.<\/p>\n\n\n\n

In terms of office property, the company aims to reduce capital allocation in this segment by \u00a32 billion over the next two to five years.<\/p>\n\n\n\n

Nevertheless, Landsec stated: \u201cWe have strong confidence in the short-term income growth from our high-quality office assets in London.\u201d However, in the long term, the company added, \u201csupply is less constrained, and demand \u2014 and thus rental values \u2014 are likely to be more cyclical.\u201d<\/p>\n\n\n\n

\u201cIn contrast, housing demand is structural, being driven by long-term demographic trends,\u201d the statement said.
\u201cThis means that residential income and values have historically been far less volatile \u2014 and we expect this to continue.\u201d<\/p>\n\n\n\n

The company is currently working on three large-scale housing projects. Infrastructure work has begun and demolition has been completed on the first phase of an approved scheme on Finchley Road (1,800 new homes in North London).<\/p>\n\n\n\n

\ud83d\udc49 Read also: Landsec paused construction of a \u00a3200 million office in Bankside.<\/p>\n\n\n\n

Detailed planning for the first phase of the upcoming Mayfield project (1,700 homes) is expected in the second half of the year, with completion starting in 2026.<\/p>\n\n\n\n

The company is also awaiting a decision on submitting a masterplan for 2,800 homes in Lewisham, South London.<\/p>\n\n\n\n

Landsec also announced plans to invest an additional \u00a31 billion in large-scale retail projects over the next one to three years.<\/p>\n\n\n\n

Last year, the company invested \u00a3600 million in two retail destinations \u2014 Liverpool ONE and Bluewater \u2014 and sold off ageing hotels that required significant capital investment.<\/p>\n\n\n\n

Revenue grew slightly, from \u00a3824 million to \u00a3842 million, and financial performance improved as Landsec swung from a loss to a pre-tax profit.<\/p>\n\n\n\n

Pre-tax profit was \u00a3393 million, largely due to a portfolio revaluation. Net gain from revaluation of investment properties was \u00a391 million, compared to a \u00a3628 million deficit last year, which had caused a \u00a3341 million loss.<\/p>\n\n\n\n

CEO Mark Allan said:
\u201cOur portfolio has again delivered strong results \u2014 net rental income rose by 5%, supporting both returns and asset values over the year.\u201d
\u201cIt’s never been more important to own the right real estate. Given strong occupier demand, this trend is likely to continue, delivering stable earnings per share growth in the near and medium term.\u201d<\/p>\n","protected":false},"featured_media":5126,"template":"","acf":[],"yoast_head":"\nLandsec reduces office assets and shifts to residential construction - Intsin<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/intsin.pl\/?post_type=news&p=5124\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Landsec reduces office assets and shifts to residential construction - Intsin\" \/>\n<meta property=\"og:description\" content=\"ProgramLandsec plans a major sale of part of its office portfolio to finance a shift into residential property, which the company believes will provide more sustainable growth and lower volatility. 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