UK REIT Land Securities offloaded £701.8 mln (€913.2 mln) of assets in the last three months of 2014 as it looks to shift its focus to the congested London market.

UK REIT Land Securities offloaded £701.8 mln (€913.2 mln) of assets in the last three months of 2014 as it looks to shift its focus to the congested London market.

Key sales included Cabot Circus, Bristol, for €348.1 mln, The Centre and Almondvale West retail park in Livingston, Scotland, for €291.3 mln and Princesshay, Exeter, for €166.2 mln.

The disposals brought the total for the first three quarters of Land Securities’ broken book year to €1.15 bn, 15% ahead of its March 2014 valuation.

Land Securities made acquisitions worth €305 mln in its third quarter and €1.21 bn over the nine-month period.

CEO Robert Noel said: ‘Although there is political uncertainty at home and abroad, we expect interest in our schemes to remain strong, reflecting both the quality of our portfolio and the lack of supply in London.’