Dec 16, 2004
Land Securities Group PLC and Slough Estates plc today announce that, following exchange of contracts on 15 November 2004, the swap of the majority of their respective industrial and retail property portfolios has completed.
For further information:
Francis Salway/Emma Denne
Land Securities Group
020 7413 9000
Jonathan Brill/Dido Laurimore
Financial Dynamics
020 7831 3113
Ian Coull
Slough Estates
01753 537171
Andrew Best/Emily Bruning
Shared Value
020 7321 5022 / 020 7321 5027
Notes to Editors
Land SecuritiesLand Securities is a FTSE 100 company, quoted on the London Stock Exchange. It has been at the forefront of the UK's commercial property industry for 60 years. Today, the Group maintains its market leading position as the UK's largest quoted property company by providing commercial accommodation and property services to a wide range of occupiers. The Group's objective is to create attractive and sustainable returns for its shareholders through its activities, which include property investment, development and property outsourcing.
Land Securities holds a market leading position in three areas of the UK commercial property market:
·Retail,
·London offices and
·Property outsourcing.
Its £8.9 billion investment portfolio includes more than 810,000 sq.m. of office space in Central London and substantial retail holdings in Oxford Street, Tottenham Court Road and Notting Hill Gate. In addition the Group owns 18 shopping centres and 25 retail parks located across the UK. It has a substantial development programme with a number of development projects; these include regeneration schemes in historical British cities, three major retail-led urban regeneration schemes and eight Central London developments. The Group is also masterplanning one of Europe's largest regeneration schemes in Kent Thameside. The Group leads the market in property outsourcing where, through Land Securities Trillium, it provides accommodation and property-related services to the Department for Work and Pensions, the BBC, Norwich Union and through a joint venture, Telereal, to BT.
Slough EstatesSlough Estates is a leading provider of flexible business space in business parks in Western Europe and North America, with over 1700 customers occupying 2.9 million sq.m. of business space, with a total value of £3.6 billion. Slough Estates' properties are in suburban locations in close proximity to the main business centres, where there is long term demand for business accommodation to serve these key economic regions. The company's main activities are currently based around London, Brussels, Paris, Düsseldorf, San Francisco and San Diego and the company continues to develop new business parks with the long term objective of building shareholder value and enhancing its reputation for quality buildings offering excellent value to customers.
www.sloughestates.com