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Landsec swings to profit as commercial rents rise
Western Mail
|May 17, 2025
COMMERCIAL property giant Land Securities, whose portfolio of assets includes the St David's Shopping Centre in Cardiff, has returned to an annual profit after benefiting from rising rents and retail chains investing in their biggest shops.
The company shrugged off any impact of US tariffs on business investment.
Land Securities (Landsec) reported a pre-tax profit of £393m for the year to the end of March, rebounding from a loss of £341m the year prior.
The total value of its property portfolio jumped to £10.88bn, from £9.96bn this time last year.
Landsec's portfolio also includes office space, retail destinations and landmarks such as the White Rose shopping centre in Leeds, the Bluewater shopping centre in Kent, and the Piccadilly Lights in London.
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