Land Securities Group PLC Landsec agrees sale of Harbour Exchange
12 Novembro 2021 - 4:00AM
RNS Non-Regulatory
TIDMLAND
Land Securities Group PLC
12 November 2021
Land Securities Group PLC ("Landsec")
Landsec agrees sale of Harbour Exchange for GBP196.5m
12 November 2021
Landsec is pleased to announce the sale of 6-9 Harbour Exchange,
London E14 to Blackstone European Property Income Fund (BEPIF) for
GBP196.5m, in a transaction that underl ines strong investor demand
for high quality income in central London. The sale price reflects
a net initial yield of 3.99%.
The disposal is in line with Landsec's strategy set out in
October 2020, which identified a future growth strategy focused on
three key areas: Central London offices; major retail destinations;
and urban mixed-use neighbourhoods in London and other major
regional cities.
The goal of this strategy is to accelerate growth through
recycling capital into higher return opportunities and deliver for
investors an attractive combination of income and growth driven
returns.
The transaction is the latest in a number of steps Landsec has
taken in recent months to support its growth strategy, including
the purchase of a majority stake in MediaCity, the 37 acre media,
digital and tech hub in Salford, Greater Manchester.
Marcus Geddes, Managing Director Central London at Landsec said
: "The sale of Harbour Exchange is very much aligned with our
strategy. Through this disposal we are recycling capital into
opportunities where we can bring to bear Landsec's skills and
expertise to drive growth and returns for our investors."
Harbour Exchange is located in the Docklands area of London,
adjacent to Millwall Dock, directly to the south of Canary Wharf.
The Property is in close proximity to South Quay and Crossharbour
DLR stations, providing access to Central London. Harbour Exchange
comprises of two adjoining re-purposed office buildings, originally
constructed in 1989 with approximately 278,198 sq ft of datacentre
and office accommodation. The space is let to Equinix (UK) Limited
with an unexpired lease term of nearly 20 years.
The sale is unconditional, completion will take place before the
end of the calendar year.
Ends
About Landsec
At Landsec, we build and invest in buildings, spaces and
partnerships to create sustainable places, connect communities and
realise potential. We are one of the largest real estate companies
in Europe, with a GBP10.8 billion portfolio of retail, leisure,
workspace and residential hubs. Landsec is shaping a better future
by leading our industry on environmental and social sustainability
while delivering value for our shareholders, great experiences for
our guests and positive change for our communities.
Find out more at landsec.com
Please contact:
Press Investors
Sara Doggett Edward Thacker
+44 (0)7834 431258 +44 (0) 7887 825869
sara.doggett@landsec.com edward.thacker@landsec.com
About BEPIF
BEPIF is a perpetual-life vehicle that provides income-focused
individual investors access to institutional quality real
estate.
Find out more at bepif.com
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END
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