Land Securities Group
Encyclopedia
Land Securities Group plc is the largest commercial property company in the UK and the leading British
property development and investment company headquartered in central London
. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007. It is traded on the London Stock Exchange
and is a constituent of the FTSE 100 Index
.
purchased Land Securities Investment Trust Limited, which owned three houses in Kensington
and some government stock. Further acquisitions followed shortly afterwards and from 1947 the company concentrated on commercial property. In the early days some non-UK investments were acquired, but in 1971 these were sold off and the company has concentrated solely on the UK market since then. The company name was changed to Land Securities plc in 1982. After buying Trillium
in 2000, it formed a 50/50 JV company Telereal
in 2002 with William Pears Group (WPG) to buy the property portfolio of British Telecom: after selling its shares in Telereal to WPG in 2007, Land Securities sold Trillium to WPG in 2009.
The Company notably owns the The Piccadilly Lights in Piccadilly Circus
in London
.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
property development and investment company headquartered in central London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007. It is traded on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and is a constituent of the FTSE 100 Index
FTSE 100 Index
The FTSE 100 Index, also called FTSE 100, FTSE, or, informally, the footsie , is a share index of the 100 most highly capitalised UK companies listed on the London Stock Exchange....
.
History
The Group traces its origins to 1944, when its founder Harold SamuelHarold Samuel, Baron Samuel of Wych Cross
Harold Samuel, Baron Samuel of Wych Cross was the founder of Land Securities, one of the United Kingdom's largest property companies.-Career:...
purchased Land Securities Investment Trust Limited, which owned three houses in Kensington
Kensington
Kensington is a district of west and central London, England within the Royal Borough of Kensington and Chelsea. An affluent and densely-populated area, its commercial heart is Kensington High Street, and it contains the well-known museum district of South Kensington.To the north, Kensington is...
and some government stock. Further acquisitions followed shortly afterwards and from 1947 the company concentrated on commercial property. In the early days some non-UK investments were acquired, but in 1971 these were sold off and the company has concentrated solely on the UK market since then. The company name was changed to Land Securities plc in 1982. After buying Trillium
Telereal Trillium
Telereal Trillium Ltd is a commercial property management and investment company, headquartered in central London. It is wholly owned by the Pears family, via the William Pears Group and family trust-based holdings.-History:...
in 2000, it formed a 50/50 JV company Telereal
Telereal Trillium
Telereal Trillium Ltd is a commercial property management and investment company, headquartered in central London. It is wholly owned by the Pears family, via the William Pears Group and family trust-based holdings.-History:...
in 2002 with William Pears Group (WPG) to buy the property portfolio of British Telecom: after selling its shares in Telereal to WPG in 2007, Land Securities sold Trillium to WPG in 2009.
Operations
Land Securities owns and manages more than 29000000 sq ft (2,694,188.2 m²) of commercial property, from London offices and high street shops to major shopping centres and out-of-town retail parks. As at 31 March 2010 the property portfolio was valued at £8.0bn.The Company notably owns the The Piccadilly Lights in Piccadilly Circus
Piccadilly Circus
Piccadilly Circus is a road junction and public space of London's West End in the City of Westminster, built in 1819 to connect Regent Street with the major shopping street of Piccadilly...
in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
.