Robert Noel
Developer Land Securities is to build more than 4,000 homes on its suburban retail sites across London, as it seeks to counteract a slide in the value of its retail developments.
Land Securities’ half-year results for the six months to the end of September 2018 showed that there was a 2.9% drop in the value of shopping centres and shops, with retail parks down 4.5% and leisure and hotels down 0.2%.
Meanwhile, its London office development pipeline increased to two million sq ft, with an estimated cost of £2bn. The value of its London office portfolio rose 0.2%.
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