SOURCE: Land Securities Group PLC

October 23, 2014 11:12 ET

Land Securities Acquires 1.6% Stake in Lend Lease Retail Partnership for GBP12.8 Million

LONDON, UNITED KINGDOM--(Marketwired - Oct 23, 2014) - Land Securities Group PLC ("Land Securities") (LSE: LAND) (PINKSHEETS: LSGOF) --

Following the announcement on 25 June 2014 of Land Securities' acquisition of a 30% stake in the Bluewater shopping centre in Kent, Land Securities announces it has conditionally acquired a 1.6% stake in Lend Lease Retail Partnership (LLRP) for £12.8m. LLRP's major investment is a 25% stake in the Bluewater shopping centre.

As a result of this acquisition, Land Securities economic interest in the Bluewater shopping centre, Kent, will increase by 0.4%.

Notes to editors:

Land Securities is the UK's largest listed commercial property company and a member of the FTSE 100. The company owns and manages more than 24 million sq ft of property, from shopping centres to offices, valued in excess of £11.8 billion.

In addition to its 25% stake in the Bluewater shopping centre, LLRP also owns 100% of Touchwood shopping centre, Solihull.

Contact Information