Land Securities Group PLC Landsec completes the sale of 21 Moorfields (6834A)
26 Settembre 2022 - 4:30PM
UK Regulatory
TIDMLAND
RNS Number : 6834A
Land Securities Group PLC
26 September 2022
26 September 2022
Land Securities Group PLC ("Landsec")
Landsec completes the sale of 21 Moorfields for GBP809m
Further to the announcement made on 21 September 2022, Landsec
confirms the completion of the sale of 21 Moorfields, EC2, to an
investment vehicle managed by global real estate and investments
group, Lendlease.
As per last week's announcement, the sale is in line with
Landsec's strategy to recycle capital out of mature London offices,
crystallises a 25% profit on cost and further strengthens Landsec's
strong financial base, reducing the company's loan to value from
34% to 30% based on a pro-forma March 2022 balance sheet.
Completion took place today on the terms previously outlined and
there has been no significant change affecting any matter contained
in the earlier notification and no other significant new matter has
arisen between exchange and completion.
Ends
Please contact:
Press Investors
Sara Doggett Edward Thacker
+44 (0)7834 431258 +44 (0) 7887 825869
sara.doggett@landsec.com edward.thacker@landsec.com
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END
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