Land Securities
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| Type | Real estate investment trust (LSE: LAND) |
|---|---|
| Industry | Property |
| Founded | 1944 |
| Headquarters | London, United Kingdom |
| Key people | Alison Carnwath, Chairman Francis Salway, CE |
| Products | Property Development, Property Investment |
| Revenue | £833.4 million (2010)[1] |
| Operating income | £1,143.8 million (2010)[1] |
| Net income | £1,092.4 million (2010)[1] |
| Employees | 700 (2010) |
| Website | www.landsecurities.com |
Land Securities Group plc (LSE: LAND) is the largest commercial property company in the UK and the leading British property development and investment company headquartered in central London. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007. It is traded on the London Stock Exchange and is a constituent of the FTSE 100 Index.
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[edit] History
The Group traces its origins to 1944, when its founder Harold Samuel purchased Land Securities Investment Trust Limited, which owned three houses in Kensington and some government stock.[2] Further acquisitions followed shortly afterwards and from 1947 the company concentrated on commercial property.[3] In the early days some non-UK investments were acquired, but in 1971 these were sold off and the company has concentrated solely on the UK market since then.[4] The company name was changed to Land Securities plc in 1982.[5] After buying Trillium in 2000,[6] it formed a 50/50 JV company Telereal in 2002 with William Pears Group (WPG) to buy the property portfolio of British Telecom:[7] after selling its shares in Telereal to WPG in 2007, Land Securities sold Trillium to WPG in 2009.[8]
[edit] Operations
Land Securities owns and manages more than 29,000,000 sq ft (2,700,000 m2) of commercial property, from London offices and high street shops to major shopping centres and out-of-town retail parks. As at 31 March 2010 the property portfolio was valued at £8.0bn.[1]
The Company notably owns the The Piccadilly Lights in Piccadilly Circus in London.
[edit] References
- ^ a b c d Annual Report 2010
- ^ Land Securities Timeline
- ^ Land Securities Key activities 1940
- ^ Land Securities Key activities 1970
- ^ Land Securities Key activities 1980
- ^ Land Securities agrees to buy Trillium Daily Telegraph, 3 November 2000
- ^ BT selects Land Securities Trillium as preferred bidder for property portfolio BT Group, 10 April 2001
- ^ Telereal set to buy Trillium in a 'bargain' £750m swoop Daily Mail, 8 January 2009
