Landsec

What Landsec does

Landsec (legal entity: Land Securities Group PLC) is a UK Real Estate Investment Trust listed on the London Stock Exchange under ticker LAND. Founded in 1944 and headquartered at 100 Victoria Street, London, the company owns and manages a £10.8bn portfolio spanning 22.1 million square feet of commercial real estate across the UK as at 31 March 2026. The portfolio is split between £7bn of office-led assets (centred on prime London locations including Victoria, Bankside's Timber Square, and King's Cross) and £3bn of major retail destinations (Bluewater, Gunwharf Quays, St David's Dewi Sant, Trinity Leeds, Liverpool ONE), with a growing residential development pipeline targeting 9,000 homes at sites including Mayfield in Manchester and Lewisham in London. For the year ended 31 March 2026 the company reported EPRA earnings of £382m, IFRS profit before tax of £346m, EPRA NTA per share of 882p, and EPRA occupancy of 98.0% — the highest in two decades.

The business operates three distinct go-to-market motions. In the workplace segment Landsec sells and leases office products directly to enterprise occupiers: Blank Canvas (customisable floorplates), Created (fitted and furnished workspaces), and MYO (flexible workspaces), alongside flagship pre-lets such as BP's 192,000 sq ft commitment at Timber Square. In the retail segment the company leases units directly to retail brands at owned shopping destinations, with Platform+ providing 1,200-2,500 sq ft prime units for short-term activations; turnover rent, commercialisation, and pop-up income are targeted to grow at 4.5-7% CAGR through FY30. In residential the company is developing and selling homes through a build-to-rent and mixed-use regeneration model, with majority of the 9,000-home pipeline now having planning consent. Pricing is bespoke and negotiated per square foot based on location and specification, with no public pricing tiers.

Revenue mechanics are predominantly subscription-recurring (long-lease office and retail rental income) with one-time residential sales. Strategic capital recycling — £705m of low-returning asset disposals including £346m of offices — has funded accretive retail acquisitions such as the ~£250m Silverburn purchase and the 2021 €502m MediaCity majority stake, which was rebranded to MediaCity Studios and MediaCity Post in 2026. Technology is positioned as an enabler rather than a product: the company applies AI in procurement and has formalised a Chief Data and Technology Officer function, while partnership-based initiatives such as the £24.5m RAW Charging EV infrastructure programme extend the platform into mobility services. Capital structure is anchored by an 8.6-year average debt maturity with no refinancing requirement until 2028 and ND/EBITDA of 8.4x expected to fall below 7x within two years.

Name

Landsec

Legal name

Land Securities Group PLC

Website

https://landsec.com

Company type

Public

Founded year

1944

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Landsec is a UK REIT (LSE:LAND) that owns and manages a £10.8bn portfolio of 22.1m sq ft of prime office, retail, and residential real estate across the UK, leasing workspace to corporates and retail space to brands at flagship destinations such as Bluewater, Gunwharf Quays, and Timber Square.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Lessors of Real Estate (5311), Nonresidential Property Managers (531312)

SIC

Operators Of Nonresidential Buildings (6512), Lessors Of Real Property, Nec (6519)

akta.pro primary industry

Real Assets — Operating Platforms & Direct Investments (FSAAAKAL)

akta.pro secondary industries

Property Management Advisory & Leasing Administration (FSAEAJAN), Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC)

Keywords

• Commercial real estate
• Office leasing
• Retail property
• Real estate investment trust
• Workplace development

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Office Leasing: Landsec develops, owns, and manages high-quality office workspaces (Blank Canvas, Created, MYO products) and leases them to occupiers ranging from global corporates to small businesses. LFL net rental income up 6.0% with occupancy at a decade-high of 98.6%. Office assets valued at £7bn as at 31 March 2026.
2. Retail Leasing: Landsec owns and manages major retail destinations (Bluewater, Gunwharf Quays, St David's Dewi Sant, Trinity Leeds, Liverpool ONE, etc.) and leases units to retail brands. LFL net rental income up 5.5% with 97.7% occupancy. Retail assets valued at £3bn as at 31 March 2026.
3. Residential Development: Landsec is developing residential-led places at Mayfield (Manchester), Lewisham (London), and other locations. A 9,000-home pipeline is in development with majority now having planning consent. The company aims to build a £2bn+ residential platform with higher income growth and lower cyclicality.
4. Turnover Income and Commercialisation: Retail sales-driven income from tenant turnover rent, commercial activations, and short-term pop-ups at shopping destinations. The company targets 4.5-7% CAGR in income from existing retail portfolio by FY30 via capturing growing reversion, turnover income, commercialisation, and small capex projects.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Landsec is a UK Real Estate Investment Trust that develops, owns, and manages a £10.8bn portfolio of commercial real estate spanning 22.1m sq ft across office, retail, and residential assets. Its office business offers three workspace products — Blank Canvas, Created, and MYO — leased to enterprise occupiers, while its retail business operates major UK shopping destinations leased to consumer brands. The company is also building a 9,000-home residential-led pipeline through regeneration projects such as Mayfield in Manchester and Lewisham in London.

Product overview

Landsec is a UK commercial real estate company operating a portfolio of retail, workplace, and residential properties. The company offers three distinct office workspace products: Blank Canvas (blank floorplates for custom build-outs), Created (self-contained fitted and furnished workspaces), and MYO (flexible workspaces with managed services). Their retail portfolio includes major destinations such as Bluewater (Kent), Gunwharf Quays (Portsmouth), St. David's Dewi Sant (Cardiff), Liverpool ONE, and Trinity Leeds. Landsec also operates Platform+, providing 1,200-2,500 sq ft prime retail spaces. The company is developing major residential projects including Mayfield (Manchester) and Lewisham shopping centre redevelopment, as well as sustainable developments like The Forge (UK's first net zero carbon commercial building) and Timber Square (London workplace).

Differentiator

Problem solved

Functional benefit

Products and services

• Blank Canvas Blank floorplates ready for businesses to create their own workspace style. High-spec, high-tech, healthy, sustainable, and inspirational office spaces designed for enterprise occupiers seeking prime UK office locations.
• Created Self-contained, spacious, and sustainable workspaces with own reception and branding, delivered fitted and furnished with clear cost packages and tailored environment options for enterprise occupiers.
• MYO Flexible workspaces where every detail is crafted from design to locations, amenities, and service. Members can tailor private offices and have access to meeting rooms, event space, and breakout spaces with on-site concierge team. Popular with AI and tech firms at MYO King's Cross.
• Platform+ Provides 1,200 sq ft to 2,500 sq ft of prime retail space in some of the UK's best trading locations, enabling brands to run pop-up activations and short-term commercial campaigns.
• Bluewater Major retail destination in Kent, one of Landsec's flagship shopping centres, leased to retail brands with 97.7% retail occupancy and outperformance vs UK national retail sales averages.
• Gunwharf Quays Major outlet retail destination in Portsmouth operated by Landsec, with a £45m planning application submitted to transform the Waterfront. Tenant line-up includes HOKA, White Stuff, Crew Clothing, Lucy & Yak, Henri-Lloyd, and Maddie's.
• St. David's Dewi Sant Major retail destination in Cardiff, Wales, operated by Landsec as part of its prime shopping centre portfolio.
• Liverpool ONE Major retail and leisure destination in Liverpool, operated by Landsec as part of its prime shopping centre portfolio.
• Trinity Leeds Major retail destination in Leeds city centre operated by Landsec.
• Timber Square Workplace development in Bankside, London, with BP leasing 54% of the space (the entire 15-storey Ink building, 192,000 sq ft) for its global headquarters relocation by early 2028.
• The Forge UK's first net zero carbon commercial development, part of Landsec's sustainable workplace portfolio.
• Mayfield (Manchester residential development) Residential-led mixed-use regeneration project in Manchester, part of Landsec's 9,000-home residential pipeline targeting homebuyers and renters in fast-growing urban areas.
• Lewisham (London residential development) Residential-led mixed-use regeneration project in London, part of Landsec's 9,000-home residential pipeline, with consent for 2,800 homes and commercial components including the Model Market.
• MediaCity Studios Television facilities and post-production services at MediaCity in Salford, owned by Landsec following the 2021 majority stake acquisition. Serves BBC, ITV, and Netflix as a leading UK television facilities house.

Quantifiable outcome

• Like-for-like net rental income up 4.6%, ahead of initial 3-4% guidance
• +5 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Seven partnerships are on record, tiered core, minor and flagship.

• RAW ChargingcoreStrategic or Co-development Partner · 26 March 2026RAW Charging partnered with Landsec on a £24.5 million project to deploy 1,000 new electric vehicle charging bays across 28 retail destinations in the UK. The 20-year partnership includes a programme to replace and upgrade legacy charging infrastructure. The rollout includes 554 AC fast chargers and 446 DC rapid chargers, with full deployment expected by 2027-2028. Ravenside Retail Park in Chesterfield launched as the first site with 16 bays. Bluewater shopping centre in Kent will become the largest retail destination EV charging hub in the UK.
• BPcoreOthersBP has agreed to a 192,000 sq ft lease at Landsec's Timber Square development in Bankside, London, covering the entire 15-storey Ink building. BP will relocate its global headquarters from St James's Square to this South Bank location by early 2028, consolidating technical and engineering staff from its Sunbury campus in Surrey. This is a flagship tenant relationship for Landsec's workplace division.
• MediaCity Studios (formerly dock10)coreStrategic or Co-development Partnerdock10, a leading UK television facilities and post-production house, rebranded to MediaCity Studios and MediaCity Post as part of a new strategic vision under new CEO Alice Webb and owners Landsec. The rebrand positions MediaCity as a creative brand in its own right, building on 15 years as a first-choice production partner for global broadcasters and production houses including the BBC, ITV, and Netflix. MediaCity Studios is serving as the nerve centre for BBC's FIFA World Cup coverage.
• German KraftminorChannel Partner/ Reseller/ DistributorGerman Kraft brewery, founded in 2017 at Elephant and Castle, has been confirmed as the operator of the Model Market at Lewisham Shopping Centre in London. The venue, which has stood abandoned since September 2021, will reopen as a revitalised all-day hub for trading, dining, and socialising. German Kraft will run a taproom while selecting street food traders for the venue.
• Samsung ElectronicsflagshipStrategic or Co-development PartnerSamsung Electronics launched a landmark data-driven digital experience at Piccadilly Circus in London on December 17, 2025, transforming live city moods into dynamic visual content on the iconic Piccadilly Lights screen. Developed with Cheil UK and supported by Landsec and Ocean Outdoor, the activation uses real-time data including crowd density, weather conditions, and time-of-day signals to generate mood-based creative. The campaign demonstrates Samsung's belief that technology should adapt to people's desires.
• Ocean OutdoorcoreTechnology or IntegrationOcean Outdoor is a key partner for Landsec's premium digital out-of-home advertising at Piccadilly Lights and other prime locations. Ocean Outdoor supported the Samsung data-driven experience at Piccadilly Circus, which Landsec facilitated as the landlord of the iconic screen.
• MYO King's CrosscoreChannel Partner/ Reseller/ DistributorMYO provides flexible workspaces at King's Cross where every detail is carefully crafted — from design, locations, amenities, and service — to create meaningful experiences. Landsec's AI and tech firm tenants drive leasing momentum at MYO King's Cross. MYO is operated under a partnership model where Landsec owns the property and MYO manages the flexible workspace offering.

Scale indicators20 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• SEGRO: UK-listed REIT and a leading owner of modern warehouse and logistics property. Comparable as a large-cap UK REIT competing for institutional capital, though operating in industrial rather than office/retail sub-sectors.
• Great Portland Estates: London mid-market office REIT with a development-led strategy in similar West End and City submarkets. Comparable to Landsec's office leasing business on both standing investments and development pipeline economics.
• Hammerson: UK and European retail-focused REIT owning prime shopping destinations such as Bicester Village and Bullring. Most directly comparable to Landsec's £3bn retail destinations portfolio and competes for the same retail occupiers and shopper footfall.
• Capital & Counties Properties (Capco): London-focussed real estate company with major holdings in Covent Garden and Earl's Court. Operates in similar prime London submarkets and competes for retail, leisure, and office occupier demand.
• British Land: UK-listed REIT with a directly comparable portfolio mix of London offices (Broadgate, Regent's Place) and retail parks/Shopping centres. Operates a similar 'campus' strategy and competes head-to-head for prime London occupiers and UK retail anchor tenants.
• Tritax Big Box REIT: UK-listed REIT focused on large-scale logistics and warehouse assets. Comparable as a UK REIT competing for institutional capital and capital allocation, though in industrial logistics rather than commercial/retail property.
• Shaftesbury Capital: London-focused REIT concentrated in the West End (Covent Garden, Soho, Chinatown). Comparable as a prime central London landlord targeting experience-led retail, leisure, and office occupiers.
• Derwent London: London-centric office REIT focused on design-led, creative occupier space. Directly comparable to Landsec's central London office portfolio and competes for similar global corporate and SME tenants.
• NewRiver REIT: UK retail-led REIT focused on shopping centres and retail parks, particularly outside London. Comparable to Landsec's retail destination strategy at the sub-prime end of the UK shopping centre market.

Emerging players

• Helical: Smaller UK office development and investment company with a London-centric focus. Comparable on office sub-markets and development-led strategy, though operating at a meaningfully smaller scale than Landsec.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/landsec
• Xx.com/LandsecGroup

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Landsec