Land Secs says demand from blue chips will hold up in 2011

first_img Land Secs says demand from blue chips will hold up in 2011 whatsapp KCS-content BRITAIN’S largest real estate investment trust Land Securities yesterday said it expected demand from blue-chip tenants to hold up in 2011. Chief executive Francis Salway said the firm’s plans were “bearing fruit” as he updated the market on trading. “We expect a wider range of buying opportunities in 2011, although current flows of capital into the sector mean that bidding may remain competitive,”he added. “The first quarter of 2011 is likely to see mixed news flow around the consumer and the economy, but we expect occupational demand from large corporates to remain steady.”Salway pointed to City shopping mall One New Change as an indicator of the firm’s success. He said that development was commanding rents in excess of £50 per square foot, a £10 increase on what the firm could have expected in 2009. One New Change has let 51 per cent of its units, with a further 20 per cent in the hands of solicitors, suggesting a tenancy agreement is near. That means the building is practically 80 per cent let. Meanwhile, Land Securities said it planned to start work on a retail development in Scotland due to growing demand.“It is our expectation that we will soon be in a position to start a further retail development at the Atlas Site in Glasgow,” Salway said.In November, Land Securities posted a 6.7 per cent rise in first-half net asset value. Tags: NULL Wednesday 19 January 2011 7:07 pmcenter_img whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Sharelast_img read more