Business
Third Quarter Interim Management Statement
Third Quarter Interim Management Statement.
About this update from Land Securities Group Plc
[{"type":"text","content":"\n \nRNS Number : 2032Y Land Securities Group PLC 22 January 2014 \n \n\n22 January 2014\n \nLand Securities Group PLC (\"Land Securities\" / \"the Group\" / \"the Company\")\nTHIRD QUARTER INTERIM MANAGEMENT STATEMENT\nLand Securities reports continued high levels of activity across its business, and announces two new central London development starts.\n \nKey Highlights:\n \nGood progress on developments\n· £7.3m of development lettings signed since 1 October 2013 with a further £7.9m in solicitors' hands\n· 123 Victoria Street, SW1, 93% let\n· 62 Buckingham Gate, SW1, 57% let with a further 10% in solicitors' hands\n· 20 Fenchurch Street, EC3, 64% pre-let with a further 23% in solicitors' hands\n· Successful launch of Trinity Kitchen and Primark at Trinity Leeds\n· Completion of pre-let retail development at Crawley\n· Construction commenced at Taplow, 79% pre-let with a further 12% in solicitors' hands\n· £243m of new developments commenced at 1 New Street Square, EC4 and 20 Eastbourne Terrace, W2\n· Positive planning decisions at Ealing Filmworks and White Rose, Leeds\n \nImproved occupancy\n· £5.4m of investment lettings signed since 1 October 2013, with a further £5.0m of lettings in solicitors' hands\n· Voids in the like-for-like portfolio down from 2.0% at 30 September 2013 to 1.8% at 31 December 2013\n· Retail Portfolio like-for-like voids down from 3.0% at 30 September 2013 to 2.5% at\n31 December 2013. Of this figure, units let on a temporary basis represented 1.4%\n· London Portfolio like-for-like voids up from 0.9% at 30 September 2013 to 1.1% at\n31 December 2013\n· Units in administration up from 0.6% at 30 September 2013 to 0.7% at 31 December 2013 (Retail Portfolio 1.3%, London Portfolio 0.0%)\n· Overall occupancy rate for the Retail Portfolio up to 98.3% from 97.8% at 30 September 2013\n \nStrong balance sheet\n· &n...