Land Securities is poised to put its plan to split into two separate listed companies on hold due to the deepening decline in the UK commercial property sector, according to a report in the Times newspaper at the weekend.
Land Securities is poised to put its plan to split into two separate listed companies on hold due to the deepening decline in the UK commercial property sector, according to a report in the Times newspaper at the weekend.
The newspaper suggested that Land Securities, the largest real estate investment trust in the UK, will reveal a massive drop in the net value of its assets in its half-year results this week. The paper said analysts expected the group's £13.6 bn (EUR 16.6 bn) portfolio of retail assets and office properties to have dropped in value by £1.5 -1.7 bn.
Although the de-merger of the group will be 'put on ice', the report said the sale of Land Securities' outsourcing unit, Trillium, will likely go ahead.
