May 17, 2024 / 08:00AM GMT
Mark Allan - Land Securities Group PLC - Chief Executive Officer, Executive Director
Ladies and gentlemen, good morning, and welcome to the presentation of Landsec's 2024 full year results.
So over the last three years, we have been focused on two clear strategic priorities. Firstly, increasing our investment in best-in-class assets where through our competitive advantages, we can drive long-term growth.
And secondly, preserving our balance sheet strength. So including the sale of a hotel portfolio that we announced last week. We have now sold around 40 assets since late 2020 totaling some GBP3.1 billion. And the vast majority of these were long-term single let assets where our ability to add further value was limited.
And we've reinvested at accretive returns in a targeted number of our key places such as Victoria, Piccadilly, Bluewater or Cardiff. As a result of that, around 80% of our current portfolio is now concentrated in our 12 largest places. And as we continue to invest in shaping and curating these unique multi-let locations, we expect them to drive superior income
Full Year 2024 Land Securities Group PLC Earnings Call Transcript
May 17, 2024
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