Tough times ahead for Britain’s biggest landlord

Land Securities is Britain's biggest landlord. But with the commercial property sector in the doldrums, is now the time to buy? Phil Oakley investigates.

What is it?

Land Securities (LAND) is a UK real-estate investment trust (Reit). The business is focused on two distinct areas. The retail portfolio consists of approximately 20.6 million square feet of space, including 25 shopping centres and 20 retail parks, plus 29 Ibis and Novotel hotels. Its London portfolio is focused on office accommodation in the West End and the City, plus central London shops. The company receives rental income from its properties. It also buys and develops land to make a profit. Its property portfolio is currently valued at £10.9bn.

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Phil spent 13 years as an investment analyst for both stockbroking and fund management companies.

 

After graduating with a MSc in International Banking, Economics & Finance from Liverpool Business School in 1996, Phil went to work for BWD Rensburg, a Liverpool based investment manager. In 2001, he joined ABN AMRO as a transport analyst. After a brief spell as a food retail analyst, he spent five years with ABN's very successful UK Smaller Companies team where he covered engineering, transport and support services stocks.

 

In 2007, Phil joined Halbis Capital Management as a European equities analyst. He began writing for MoneyWeek in 2010.