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    LAND   GB00BYW0PQ60

LAND SECURITIES GROUP PLC

(LAND)
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Land Securities : September 2021 quarter day rent collection data

10/15/2021 | 02:12am EST

Title:

September 2021 quarter day rent collection data

From:

Land Securities Group PLC ("Landsec")

Date:

15 October 2021

September 2021 quarter day rent collection data

Rent collection rates continue to improve. As at 12 October 2021 - collection day 10 - 85% of the net rent due on 29 September had been paid, this compares with 81% for the June quarter date. The breakdown of the rent collection by segment is as follows:

29 September 2021 quarter(1)(2) - Rent collection day 10

Gross amounts

Net

Day 10 amount

due

Monthly payment

amounts due

Day 10 amount

Day 10 amount

received

29 September

terms agreed

29 September

received

received

June 21

£m

£m

£m

£m

%

%

Offices

57

(1)

56

53

95%

95%

Rest of Central London

6

(1)

5

4

80%

71%

Regional retail

14

(2)

12

10

83%

73%

Urban opportunities

5

(1)

4

2

50%

50%

Subscale sectors

14

(2)

12

7

58%

43%

96

(7)

89

76

85%

81%

  1. Including our proportionate share of subsidiaries and joint ventures.
  2. All amounts are shown gross of VAT. Where an amount billed remains uncollected and is subsequently written off, the VAT component will be recovered by the Group.

Of the £13m of rent outstanding, £5m relates to customers who have withheld payment pending documentation of agreed concessions.

Half-yearly results

Landsec will be announcing its half-yearly results for the six months to 30 September 2021 on Tuesday 16 November 2021.

Ends

About Landsec

At Landsec, we build and invest in buildings, spaces and partnerships to create sustainable places, connect communities and realise potential. We are one of the largest real estate companies in Europe, with a £10.8 billion portfolio of retail, leisure, workspace and residential hubs. Landsec is shaping a better

future by leading our industry on environmental and social sustainability while delivering value for our shareholders, great experiences for our guests and positive change for our communities.

Find out more at landsec.com

Please contact:

Press

Investors

Jonathan Sibun (Tulchan Group)

Ed Thacker

+44 (0) 7779 999 683

+44 (0) 20 7024 5185

jsibun@tulchangroup.com

edward.thacker@landsec.com

Disclaimer

Land Securities Group plc published this content on 15 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2021 06:11:08 UTC.


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Sales 2022 565 M 752 M 752 M
Net income 2022 434 M 578 M 578 M
Net Debt 2022 3 617 M 4 817 M 4 817 M
P/E ratio 2022 9,51x
Yield 2022 4,83%
Capitalization 5 359 M 7 096 M 7 138 M
EV / Sales 2022 15,9x
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Nbr of Employees 530
Free-Float 97,8%
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Number of Analysts 14
Last Close Price 727,00 GBX
Average target price 800,71 GBX
Spread / Average Target 10,1%
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Managers and Directors
Mark Christopher Allan Chief Executive Officer & Director
Vanessa Kate Simms Chief Financial Officer & Executive Director
Cressida Hogg Non-Executive Chairman
Nick de Mestre Managing Director-Strategy, Research & Innovation
Colette O'Shea Chief Operating Officer & Executive Director
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