Acquisition in Lavington Street, SE1

RNS Number : 7350J

Land Securities Group PLC

07 December 2018

 

Landsec increases Southwark exposure with acquisition in Lavington Street, SE1

Landsec has expanded its presence in Southwark with the acquisition of a 1.6 acre site in Lavington Street, SE1 for £87.1m from a private company.

The low density site currently comprises two buildings totalling 128,000 sq ft and has significant development potential. Lavington Street will add to Landsec's development pipeline in central London, which currently stands at 2m sq ft, and builds on the company's existing development opportunities in Southwark at 105 Sumner Street and Red Lion Court.

Colette O'Shea, Managing Director, London Portfolio, said: "This acquisition gives us great potential in a submarket in which we have deep experience. We're excited about the development prospects for this site due to a combination of location, flexibility and scale."

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About Landsec

At Landsec, we believe great places are for people to experience and are made with the experience of great people. We own and manage some of the most successful and recognisable assets in the country. Our £14.0 billion portfolio spans 23.9 million sq ft of real estate and is a diverse mix of offices, retail and leisure.

We aim to lead our industry in critical long-term issues - from diversity and community employment, to carbon and climate resilience. Everything we do is grounded in experience and begins with people. We deliver value for our shareholders, great experiences for our customers and positive change for our communities. At Landsec, everything is experience.

Find out more at landsec.com

Please contact:
Press Molly Neal [phone] [e-mail]	Investors Ed Thacker [phone] [e-mail]

 

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