LONDON, UNITED KINGDOM--(Marketwired - Jul 22, 2015) - Land Securities Group PLC (
Land Securities Group PLC ("Land Securities")
First Quarter Interim Management Statement
"Following our strong annual results, Land Securities is maintaining good momentum and has started the year well," said Chief Executive Robert Noel.
"In London take-up is healthy, vacancy rates are low, and rental values are rising. We have good interest in our well-timed schemes and of the 1.1m sq ft remaining to let in our speculative development programme at 31 March, 322,000 sq ft has been let or is in solicitors' hands. We remain confident in the prospects for the remaining space.
"In Retail, the transformation of our portfolio is continuing to pay off. By focusing on assets which offer customers an excellent experience, while either being dominant in their catchment or highly convenient, we have seen footfall up 2.5%, same store sales up 3.8% and same centre sales up 5.4% on the same quarter last year. The redevelopment of Westgate, Oxford is progressing to plan with good leasing interest in the scheme which is now 35.4% pre-let or in solicitors' hands two years before opening."
Key Highlights:
Portfolio changes during the quarter
Progress on developments
Operational metrics
Balance sheet and dividend
(1) Land Securities' proportionate share
(2) The first interim dividend will be paid on 9 October 2015 to shareholders on the register on
11 September 2015. The dividend will be paid entirely as a Property Income Distribution.
- Ends -
A brief conference call for Q&A is being held today at 08:30 BST
Conference call details:
Dial-in number: +44 (0) 1452 541003
Call title: Land Securities Q1 IMS
Call ID number: 73950646
A replay facility will be available four hours after completion of the call for seven days
Encore replay details:
UK dial-in number: 08717000145
International dial in number: +44 (0)1452550000
Access number: 73950646
Contact Information:
Contacts:
RNS
Customer Services
0044-207797-4400
rns@londonstockexchange.com
http://www.rns.com