Land Securities' statement regarding 21 Moorfields

RNS Number : 3924A

Land Securities Group PLC

24 March 2017

 

Land Securities Group PLC ("Land Securities")

In response to recent press comment regarding its development site at 21 Moorfields, EC2, Land Securities confirms, in line with previous market guidance, it will shortly complete demolition of the existing buildings which will be followed by piling and construction of an above station raft in accordance with a consented scheme. Construction of the raft is due to be completed by June 2018.

Land Securities is also in discussions with Deutsche Bank regarding a pre-let for the development which would require alterations to the design of the building above ground. These negotiations will take several months and there is no guarantee they will lead to a transaction.

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Notes to editors:

Land Securities

Land Securities is the UK's largest listed commercial real estate company. Our £14.5 billion portfolio totals 23.6 million sq ft and includes some of London's most desirable office buildings and the UK's most successful shopping and leisure destinations.

In London, we own and manage a portfolio totalling more than £8.2 billion.  Our relentless customer focus delivers vibrant working environments, both in our developments and through thoughtful asset management, which resonate strongly with businesses looking to attract and retain top talent.  In the City, our 1.7 million sq ft of real estate includes the award-winning New Ludgate scheme, and the landmark 20 Fenchurch Street.  In the West End, our expertise in placemaking and public realm has seen the transformation of Victoria, SW1 into a vibrant destination that is attracting global businesses and visitors alike.

In Retail, our commitment to creating an outstanding consumer experience, combined with the strength and resilience of our 17.5 million sq ft of assets, means we provide the space where consumers want to shop and retailers want to be, both now and in the future.  Our focus on collaborating with our retailers and anticipating consumer needs not only delivers an unrivalled experience for our customers, but our footfall and sales figures consistently outperform the industry benchmarks.

Whether in offices or retail, sustainability is key to everything we do.  For us, being a sustainable business means ensuring Land Securities remains healthy and successful for years to come.  To achieve this we need the support of our customers, communities, partners and employees.  That's why we lead the way on sustainability in the UK listed real estate sector by focusing on three key areas: creating jobs and opportunities through our award-winning Community Employment Strategy, which has put over 800 disadvantaged people into employment since 2011; efficient use of natural resources; and sustainable design and innovation.

Land Securities delivers value for our shareholders, great space for our customers and positive change for our communities.

For further information, please contact:

Land Securities Group PLC

Media                                                                           Investors

Molly Neal                                                                    Edward Thacker

T: [phone]                                              T: [phone]

[e-mail]                                 [e-mail]

 

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