Goodbye Land Securities, hello Landsec
One of the UK’s largest developers, Land Securities, has unveiled a brand overhaul, including the changing of its name to Landsec.
Landsec chief executive, Robert Noel, said: “This is a natural evolution; in fact, people often refer to us as Landsec already.
“Our updated brand reflects our culture, our people and our approach, putting the experience of our customers, communities, employees and partners at the heart of everything we do.”
Landsec, which completed the first phase of its £2.2bn scheme Nova in London’s Victoria district in April, has a £14.4bn portfolio totalling 23.2m sq ft.
The FTSE 100 firm reported a drop in its pretax profit from £1.2bn last year to £112m for the year to March 2017, which it said was primarily down to valuation changes. However, revenue profit increased by £20m to £382m, up from £362m.
Landsec’s development pipeline includes the second phase of Nova, comprising a 16-storey office building with ground floor retail, but the company said it would only start on site “when the time is right” for the project.
Elsewhere in London, Landsec is redeveloping 21 Moorfields above Moorgate underground station in the City, where the demolition phase has now completed and it is also conducting a feasibility study for a 360,000 sq ft scheme at Red Lion Court.