Rental values put Land Sec in good shape

Joseph Millis
LAND Securities yesterday said its business and markets were in good shape, with rental values rising in London due to a shortage of new office space.

It forecast that interest in its schemes would remain strong despite the political uncertainty in the UK and abroad.

The commercial property company, focused on London and retail developments, said it made £10.9m of investment lettings in the three months to 31 December. There were, it added, a further £8m of lettings currently in solicitors’ hands.

Robert Noel, the chief executive, said: “Our business and markets are in good shape. In London, rental values are rising due to a shortage of new commercial space, just as we are delivering a major programme of office and retail space to the market. Interest in our developments is strong and on terms ahead of our valuers’ most recent estimates.”