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Q3 Update

Q3 Update

13 February 2013

2012 was a year of highs for the Land Securities London Portfolio, as the group continued to make good progress with further development lettings and also saw a strong operational performance across the investment portfolio. In result the London Portfolio is thrilled to announce that £5.8 million of development lettings were secured, with a further £8.6million in solicitor’s hands.

In the City One New Change was let to Dealogic bringing the office element of the scheme to 100%, with the retail element remaining at 99% let. 20 Fenchurch Street, set to become one of London’s landmark buildings, continues to thrive with 34% now pre let and a further 18% in solicitors hands.

Meanwhile, the transformation of Victoria continues at pace. 123 Victoria Street has seen the percentage let jump to 58% with a further 19% in solicitors hands. 62 Buckingham Gate remains on time and in budget for completion in May this year and is now 10% in solicitors hands. Demolition has also commenced at Victoria Circle while work has begun on the Kings Gate development on Victoria Street.

Land Securities also continued to secure income in the investment portfolio and have completed £4.4million of investment lettings across the London Portfolio.