{"id":8014,"date":"2025-09-24T08:46:55","date_gmt":"2025-09-24T08:46:55","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=8014"},"modified":"2025-09-24T08:46:55","modified_gmt":"2025-09-24T08:46:55","slug":"landsec-shelves-new-office-jobs-to-go-on-1bn-shopping-spree","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/landsec-shelves-new-office-jobs-to-go-on-1bn-shopping-spree\/","title":{"rendered":"Landsec shelves new office jobs to go on \u00a31bn shopping spree"},"content":{"rendered":"

Developer Landsec is putting the brakes on new office projects as it switches focus to snapping up shopping centres across the UK.<\/p>\n

At an investor day, chief executive Mark Allan said the company sees greater growth from buying existing retail assets than pressing ahead with major new commercial schemes.<\/p>\n

As a result, Landsec\u2019s committed development pipeline will shrink to around \u00a3200m by mid-2026.<\/p>\n

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Allan said the next three years would see Landsec plough \u00a31bn into retail acquisitions, after a series of previous deals proved highly lucrative. Over the same period, it plans to raise around \u00a32bn by selling off office assets.<\/p>\n

He told investors: \u201cHaving sold \u00a3295m of offices well ahead of schedule, Landsec intends to accelerate further capital recycling over the next 12\u201318 months, to reinvest in major retail.\u201d<\/p>\n

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The shift means office-led development will be scaled back by at least half in the medium term.<\/p>\n

Despite the move, Landsec said it still intends to deliver its residential ambitions, including the Mayfield regeneration in Manchester and the proposed homes above Lewisham shopping centre in south London.<\/p>\n

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from Construction Enquirer https:\/\/ift.tt\/MQFv18V<\/p>\n","protected":false},"excerpt":{"rendered":"

Developer Landsec is putting the brakes on new office projects as it switches focus to snapping up shopping centres across the UK. At an investor day, chief executive Mark Allan said the company sees greater growth from buying existing retail assets than pressing ahead with major new commercial schemes. As a result, Landsec\u2019s committed development […]<\/p>\n","protected":false},"author":1,"featured_media":145,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[9],"class_list":["post-8014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-enquirer"],"_links":{"self":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/8014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/comments?post=8014"}],"version-history":[{"count":1,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/8014\/revisions"}],"predecessor-version":[{"id":8015,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/8014\/revisions\/8015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media\/145"}],"wp:attachment":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media?parent=8014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/categories?post=8014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/tags?post=8014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}