Land Sec raises stake in leisure

Land Securities has spent £104m on raising its stake in the X-Leisure Unit Trust, a fund with investments in Brighton Marina and the X-Scape indoor skiing centre in Milton Keynes. The company has steadily boosted its holding from the 12 per cent it bought last year to 95 per cent yesterday. “Eighteen months ago Land Securities had no major standalone leisure assets. Today we are the UK’s biggest leisure landlord,” said executive director Richard Akers.