UK's Landsec's property valuations miss expectations, bets on retail growth
BENGALURU:
Land Securities
' overall annual property valuations slightly missed expectations on Friday, and the British commercial landlord said it plans to invest more in retail properties as store chains are expanding in premium locations.
The company has been shedding non-core assets as growth in office space remains weaker in comparison to retail and residential counterparts after the pandemic.
CEO
Mark Allan
called the company's retail segment the "strongest performing part" of its portfolio, and said he expects the firm to benefit from retailers renting space in premium shopping centres and malls.
"Retailers have to be in locations where consumers are spending money and that's what's driving the trend for fewer, better, bigger stores in the very best locations that has been underway for some time now," Allan said in a media call.
Landsec
plans to invest more in its retail and residential property assets over the next few years, and recently acquired one of the UK's premier shopping centres, Liverpool ONE.
Landsec's EPRA net tangible assets - an industry measure that represents the value of its buildings - stood at 874 pence per share as of the end of March, below expectations of 890 pence, as per a company-compiled poll.
Its shares were down 1.7% by 0849 GMT.
Analysts at
JPMorgan
said that while the company is growing, the brokerage expects some low single digit percentage adjustments down in market expectations for fiscal 2026 following the small miss in property valuations.
Landsec expects rental values for office properties to continue to grow at a broadly similar rate this year as they did last, citing "modest" supply across London.
Pre-tax profit for the year ended March 31 came to 393 million pounds ($523.8 million), compared to a loss of 341 million pounds last year.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
32 minutes ago
- News18
'18 Triumphs 18th': RCB Win IPL 2025 Crown With Win Over PBKS In Ahmedabad
1/27 2/27 Players and the umpires stand for the Indian national anthem before the start of the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/ Ajit Solanki ) 3/27 Former British Prime Minister Rishi Sunak, centre, waves prior to the start of the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/ Ajit Solanki ) Royal Challengers Bengaluru's Virat Kohli plays a shot during the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/ Ajit Solanki ) 5/27 Punjab Kings' Kyle Jamieson , right, celebrates the dismissal of Royal Challengers Bengaluru's Phil Salt during the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/ Ajit Solanki ) Royal Challengers Bengaluru's captain Rajat Patidar, left, fist bumps with his batting partner Virat Kohli during the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/ Ajit Solanki ) Punjab Kings' Azmatullah Omarzai , left, celebrates the dismissal of Royal Challengers Bengaluru's Virat Kohli during the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/ Ajit Solanki ) Royal Challengers Bengaluru's Liam Livingstone plays a shot during the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/ Ajit Solanki ) 9/27 Royal Challengers Bengaluru's Jitesh Sharma is bowled out by Punjab Kings' Vijaykumar Vyshak during the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/ Ajit Solanki ) 10/27 Punjab Kings' Arshdeep Singh celebrates the dismissal of Royal Challengers Bengaluru's Romario Shepherd during the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/ Ajit Solanki ) 11/27 Punjab Kings' Prabhsimran Singh plays a shot during the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/Ajit Solanki) 12/27 Royal Challengers Bengaluru's players celebrate the dismissal of Punjab Kings' Prabhsimran Singh during the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/Ajit Solanki) 13/27 Royal Challengers Bengaluru's Romario Shepherd, left, and teammate Virat Kohli celebrate the dismissal of Punjab Kings' captain Shreyas Iyer, second right, during the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/Ajit Solanki) 14/27 Punjab Kings' Shashank Singh plays a shot during the Indian Premier League final cricket match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/ Ajit Solanki ) 15/27 Punjab Kings' Josh Inglis plays a shot during the Indian Premier League cricket final match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/Ajit Solanki) 16/27 Royal Challengers Bengaluru's Bhuvneshwar Kumar celebrates the wicket of Punjab Kings' Nehal Wadhera with teammates during the Indian Premier League final cricket match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/Ajit Solanki) 17/27 Punjab Kings' Nehal Wadhera plays a shot during the Indian Premier League final cricket match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/ Ajit Solanki ) 18/27 Royal Challengers Bengaluru's Yash Dayal, extreme right, celebrates the wicket of Punjab Kings' Azmatullah Omarzai with teammates during the Indian Premier League final cricket match between Punjab Kings and Royal Challengers Bengaluru at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/Ajit Solanki) Royal Challengers Bengaluru's Virat Kohli reacts after their win in the Indian Premier League final cricket match against Punjab Kings at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/Ajit Solanki) 20/27 Royal Challengers Bengaluru's Virat Kohli, center, reacts after their win in the Indian Premier League final cricket match against Punjab Kings at Narendra Modi Stadium in Ahmedabad, India, Tuesday, June 3, 2025. (AP Photo/Ajit Solanki) 22/27 Jitesh Sharma (c) of Royal Challengers Bengaluru , Bhuvneshwar Kumar of Royal Challengers Bengaluru celebrating win during the final of the Indian Premier League season 18 (IPL 2025) between Royal Challengers Bangalore and Punjab Kings held at the Narendra Modi Stadium, Ahmedabad on the 3rd June 2025 Photo by: s Saikat Das / Sportzpics for IPL 23/27 Virat Kohli of Royal Challengers Bengaluru celebrating win with wife Anushka Sharma during the final of the Indian Premier League season 18 (IPL 2025) between Royal Challengers Bangalore and Punjab Kings held at the Narendra Modi Stadium, Ahmedabad on the 3rd June 2025 Photo by Tamal Das / Sportzpics for IPL 24/27 Royal Challengers Bengaluru players celebrate with the winners trophy after their win in the Indian Premier League final cricket match against Punjab Kings at Narendra Modi Stadium in Ahmedabad, India, Wednesday, June 4, 2025. (AP Photo/Ajit Solanki) 25/27 Virat Kohli of Royal Challengers Bengaluru celebrating with Champions trophy during the final of the Indian Premier League season 18 (IPL 2025) between Royal Challengers Bangalore and Punjab Kings held at the Narendra Modi Stadium, Ahmedabad on the 3rd June 2025 Photo by: s Saikat Das / Sportzpics for IPL 26/27 Royal Challengers Bengaluru's Virat Kohli holds the winners trophy and poses with his wife Anushka Sharma after their win in the Indian Premier League final cricket match against Punjab Kings at Narendra Modi Stadium in Ahmedabad, India, Wednesday, June 4, 2025. (AP Photo/Ajit Solanki)
India Gazette
38 minutes ago
- India Gazette
Ravi Shankar Prasad-led delegation concludes Europe visit, rallies support against Pak's cross-border terrorism
London [UK], June 3 (ANI): The all-party delegation, led by BJP MP Ravi Shankar Prasad, departed from London to India on Tuesday after concluding their five-country visit in Europe and the European Union to garner widespread support for India's fight against terrorism and exposed Pakistan's role in fostering terrorism. Prior to their departure, the BJP MP-led delegation, which includes BJP MPs Daggubati Purandeswari and Samik Bhattacharya, Shiv Sena (UBT) MP Priyanka Chaturvedi, Congress MPs Ghulam Ali Khatana and Amar Singh, former Union Minister MJ Akbar, and former Ambassador Pankaj Saran, met with the All-Party Parliamentary Group (APPG)-India and interacted with the media there, during which the delegation delivered a strong message on the global threat of terrorism, highlighting Pakistan's misuse of international funds to support terrorism and arms proliferation. The delegation also received widespread support from British parliamentarians, think tanks, and the Indian diaspora for India's democratic unity and firm stance against terrorism. Delegation leader Ravi Shankar Prasad stated that during their time in the UK, the delegation met with key UK figures, including the Speaker of the House of Commons and Shadow Foreign Secretary Priti Patel, emphasising the need for international accountability on terrorism financing amidst appreciation for India's democratic approach. Following the interaction with the media, Prasad highlighted the global concern over terrorism as a 'cancer' and called for scrutiny of Pakistan's use of international funds, noting the novelty of the all-party delegation initiative. 'This has been really good. Our visit to England concludes today. We held a press conference at the India House here; we met the Speaker of the House of Commons this morning. We met the Chairman of the Conservative Party yesterday; we also met Shadow Foreign Secretary Priti Patel. We also met Indian Friends in the Labour Party... We also interacted with Think Tanks. All of them are concerned that terrorism is a cancer... We also said that they (Pakistan) get loans from the IMF and World Bank and they get other funding too. So, is the funding being used for terrorism and weapon purchases or for the poor? This should be asked of them... Everyone said one more thing: that the all-party Parliamentary delegation visit is a new initiative,' Prasad said. Congress MP Amar Singh emphasised the delegation's efforts to explain India's terrorism challenges and urged Pakistan's government to clarify its stance. 'We met several people here. We met the Speaker, Ministers, a few State Ministers, Labour MPs, and Conservative MPs. We have tried to explain how India is being affected by terrorism... We have also said how our neighbouring country troubles us again and again. Now, their Government has to decide what stand they take. But we have said everything we had to,' Singh stated. Meanwhile, AIADMK MP M Thambidurai noted the UK's support for India's anti-terrorism actions, its appreciation of India's democratic unity, and its criticism of Pakistan's military rule and misuse of funds for terrorism. 'We met all the elected people of the House of Commons and Senators also... They are all positive... The Indian delegation is much more successful, seeing the reaction of all sections of people in Britain. They are for India; they are against terrorism... They are very unhappy with Pakistan... Instead of developing the country, there is no democracy there. There is a military rule there... They are misusing the money they are getting and using it for terrorism... The UK is one of the countries that have suffered. So, the UK also felt that terrorist camps in Pakistan are a dangerous thing... So, whatever action that has been taken by India to tackle terrorism is being appreciated by them,' the AIADMK leader noted. UK MPs, following the meeting with the delegation from the All-Party Parliamentary Group (APPG)-India, questioned Pakistan's aid misuse as well as backed India's anti-terror stand. UK MP Bob Blackman raised critical concerns over Pakistan's use of international aid money during the meeting with the all-party delegation, questioning whether funds meant for the country's development were being diverted to purchase Chinese weapons for terrorism against India. Key figures like House of Lords MP Lord Karan Bilimoria and former member of the UK Parliament Shailesh Vara also expressed unanimous cross-party support in the UK for India's response to the April 22 Pahalgam terror attack, alongside discussions on deepening India-UK ties in trade, security, and education, despite last-minute camera restrictions leading to phone recordings. Blackman expressed the UK's condolences and support for India's anti-terrorism actions, emphasising India's desire for peace and questioning Pakistan's misuse of aid for military purposes, advocating for its use in health initiatives like polio eradication. 'We had a meeting and it's great to see the delegation from all parts of India... Everyone from the United Kingdom expresses their condolences and support for the people of India who've suffered this terrorist outrage... India wants peace and tranquillity between the two,' Blackman stated. 'The money that's sent to Pakistan, what is it used for? What it shouldn't be used for is buying Chinese weapons that would then enable terrorists to attack India, and I take a very strong view that our international aid money that should go to Pakistan should be going for the eradication of polio and other infectious diseases that benefit the people of Pakistan rather than it being used illicitly for military purposes,' he added. Lord Karan Bilimoria, who chaired the APPG-India meeting, highlighted the unified cross-party support in both nations against terrorism, reflecting a positive meeting outcome and emphasised the potential for deeper India-UK collaboration in security, education, and the recently agreed FTA, strengthening bilateral ties. Former UK MP Shailesh Vara appreciated the delegation's in-person visit for providing a clear explanation of the Pahalgam attack and enhancing bilateral understanding and underscored the solid India-UK relationship. The all-party delegation was welcomed by APPG India President Sandy Verma, and the meeting was co-chaired by UK MPs Lord Karan Bilimoria and Jeevun Sandher. Many current and former MPs, including Lord Ed Vaizey, Bob Blackman, Barry Gardiner, Gurinder Singh Josan, Gagan Mohindra, Tanmanjeet Singh Dhesi, Kanishka Narayan, Shailesh Vara, Baggy Shanker, Mark Pritchard and others also joined the discussion. Earlier today, the delegation met UK Minister for Citizenship and Migration and Minister for Equalities Seema Malhotra at the UK Parliament. Meanwhile, on Monday, the Conservative Party's Shadow Foreign Secretary Priti Patel expressed her pleasure after meeting with an all-party Indian parliamentary delegation, led by Prasad, and stated that 'significant areas of discussion were covered.' During their diplomatic outreach, the delegation visited the UK, France, Germany, Italy, and Denmark. (ANI)
Mint
an hour ago
- Mint
‘Adolescence' overtakes ‘Stranger Things 4' to become Netflix's No. 2 most-watched English-language series ever
British limited series 'Adolescence' has become Netflix's second most-watched English-language show of all time, surpassing the popular 'Stranger Things' Season 4. As of June 1, 'Adolescence' has gathered 141.2 million views since its release on March 13, just 80 days ago. Netflix ranks its top shows based on views gathered in the first 91 days of release, and in that same timeframe, 'Stranger Things 4' had recorded 140.7 million views in 2022. Only Wednesday, the gothic teen mystery series, 'Wednesday', starring Jenna Ortega, holds a stronger position in Netflix's English-language rankings, with a remarkable 252.1 million views in its first 91 days. The success of 'Adolescence' marks a significant moment for British storytelling on the global stage, showing strong viewership across different countries. When expanding the list to include all languages, Korean sensation 'Squid Game' Season 1 remains Netflix's most-watched series ever, with 265.2 million views. Its upcoming second season has also performed strongly in early data, reaching 192.6 million views and placing just behind Wednesday and ahead of Adolescence. With still a few days left in its 91-day tracking window, 'Adolescence' may yet widen the gap between itself and Stranger Things, solidifying its spot in Netflix's streaming history. 'Adolescence' has gained praise for its emotional storytelling, sharp performances, and thought-provoking themes, resonating strongly with both teen and adult audiences. Created by Jack Thorne and Stephen Graham and directed by Philip Barantini, 'Adolescence' is a four-part mini-series that tells the powerful and emotional story of 13-year-old Jamie Miller (played by Owen Cooper), who is arrested after being accused of murdering a classmate. Each episode is filmed in a single continuous take, a creative choice that heightens the drama and makes the viewer feel as though they are right there with the characters, living each moment in real time. With its raw performances, bold direction, and unique storytelling approach, 'Adolescence' has received critical acclaim and strong word-of-mouth support, which have helped propel its global popularity.
