The improvement in the market helped Landsec, which owns offices and retail locations such as the Bluewater in Dartford and Trinity Leeds shopping centres, bounce back to a £243m pre-tax profit in the six months to the end of September.
The company, which has reduced its assets in the City of London from 42% of its office portfolio when the Covid pandemic began in 2020 to 23% in 2024, had reported a loss of £193m in the same period last year.
Yesterday, Landsec said its West End offices were "practically full" - with occupancy across its central London portfolio at 97.9% - and 80% of customers striking lettings deals over the last year to enlarge space or maintain existing size.
This story is from the November 16, 2024 edition of The Guardian.
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This story is from the November 16, 2024 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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