Full Year Results 

Land Securities dragged down by retail woes

Land Securities dragged down by retail woes

Land Securities (LAND) continued to be hampered by the downturn in high-street activity last year, with the retail portfolio weighing on the development group’s adjusted net asset value (NAV). Despite attempts to reposition its portfolio, failing retailers pulled down the rental value of retail parks and shopping centres, which suffered a 15.5 per cent and 11.7 per cent decline in valuation, respectively. That led to a £441m net deficit on the revaluation of the group’s investment properties.

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