Annual Report 2020

Our 2020 Annual Report

Welcome to Landsec. We buy, develop, manage and sell high-quality office, retail and leisure space, to create positive experiences for people in the places they work, shop, socialise and live. Our aim is to create total shareholder returns, along with significant social and economic value for all our stakeholders.

Mark Allan, Chief Executive
Download Chief Executive's statement PDF

23.2p

Dividend, down 49.1%

55.9p

Adjusted diluted earnings per share (2019: 59.7p)

1,192p

EPRA net tangible assets per share, down 11.6%

-8.2%

Total business return (2019: -1.1%)

£(837)m

Loss before tax (2019: £(123)m)

£4.8m+

Social value created during the year

Welcome to Landsec. We buy, develop, manage and sell high-quality office, retail and leisure space, to create positive experiences for people in the places they work, shop, socialise and live. Our aim is to create total shareholder returns, along with significant social and economic value for all our stakeholders.

23.2p

Dividend, down 49.1%

55.9p

Adjusted diluted earnings per share (2019: 59.7p)

1,192p

EPRA net tangible assets per share, down 11.6%

-8.2%

Total business return (2019: -1.1%)

£(837)m

Loss before tax (2019: £(123)m)

£4.8m+

Social value created during the year

This is Landsec

This is Landsec

Our response to Covid-19

Since Covid-19 began impacting our business in March, we have responded quickly to ensure our stakeholders are supported and the resilience of the business is maintained.

We established teams to support our priorities during the pandemic ranging from employee and customer support, operations and corporate affairs through to internal functions including finance and tech.

We have also been working on plans for how Landsec and our markets will emerge from the current conditions based on a number of scenarios to ensure we are well placed to respond quickly for our customers and focus on strategic priorities.

Read more about our response here

We are, as ever, committed to supporting our customers, service partners and communities
We are, as ever, committed to supporting our customers, service partners and communities
We are, as ever, committed to supporting our customers, service partners and communities

Net zero carbon by 2030

We’ve always taken sustainability seriously and, as a leader in our sector, have made a commitment to becoming a net zero carbon company by 2030. There are five elements to our strategy for achieving this.

Economic value

We measure the contribution we make to the UK economy. This may be through our own activities or through the spaces and places we create, which allow others to thrive.

Read our Physical and Social reviews

£11.7bn

Total contribution to the UK economy each year from people based at our assets

£4.4bn

Our ten-year contribution to the economy through property development

128,800

Number of people working across our workplace, retail and leisure destinations

44,900

Number of jobs created in construction through our development activities over the last decade

Welcome to Landsec. We buy, develop, manage and sell high-quality office, retail and leisure space, to create positive experiences for people in the places they work, shop, socialise and live. Our aim is to create total shareholder returns, along with significant social and economic value for all our stakeholders.

£11.7bn

Total contribution to the UK economy each year from people based at our assets

£4.4bn

Our ten-year contribution to the economy through property development

128,800

Number of people working across our workplace, retail and leisure destinations

44,900

Number of jobs created in construction through our development activities over the last decade

Our market

The early part of the financial year was affected by significant political uncertainty. However, following the general election in December 2019, there was an initial wave of optimism and clear signs of an improving economic outlook and real estate market. This was halted abruptly by the effect of, and response to, the Covid-19 pandemic in the final weeks of the financial year.

Myo – our flexible office offering
Myo – our flexible office offering
Myo – our flexible office offering

Our business model

To create value, we buy, develop, manage and sell property, drawing on a range of financial, physical and social resources along the way.

Our £12.8bn portfolio

Our portfolio of assets includes high-quality office, retail, leisure and residential space in London and vibrant regional locations. We buy, sell, develop and manage this portfolio to take advantage of diverse market opportunities.

Read more by downloading our Portfolio review PDF

More on our business

Corporate governance

Strong corporate governance and culture underpins performance, inspires trust and is essential to Landsec’s long-term success.

Read more

Sustainability

We want to ensure our physical assets enhance their value to society and the environment, and that the way we work creates lasting social value for our employees, customers, partners and communities.

Read more

Performance

We work to turn our strategic objectives into positive performance, using a number of key performance indicators to measure our progress.

Read more

Investor Relations

Edward Thacker

Edward Thacker

Investor Relations - equity

+44 (0) 20 7413 9000

Lan Stringer

Lan Stringer

Investor Relations - equity

+44 (0) 20 7413 9000

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