One of UK’s biggest commercial landlords sells out of offices in capital and reinvests in regional developments
One of the UK’s biggest commercial landlords is overhauling its strategy and shifting focus away from London to the regions as it struggles to compete with the firepower of global investment firms on big deals.
Allan, who took over as boss in April 2020, has pushed the company into areas where it will not be competing with the likes of Blackstone and Brookfield, which can raise capital at a much lower cost.
The change in strategy is an acknowledgment of Landsec’s new place in the hierarchy of UK property investors. From about £10bn in 2015, its market capitalisation has dropped to just under £5.5bn, according to data provider S&P Capital IQ.
Read more: FT
