Landsec (Lon: Land) says demand for London’s office space remains strong despite the growing number of people working from home.
The real estate company wrote almost £1 billion from the value of its portfolio to £11.8 billion, but CEO Mark Allan is confident in demand.
In the six months ended September 30th, LandSec suffered a loss of £835 million before tax. This is up from £147 million last year.
The group will pay dividends of one share in January.
Landsec said earlier this month that it plans to sell almost a third of its £12.8 billion real estate portfolio over the next four to five years.
The property group behind Trinity Leeds Shopping Centre and Blue Water in Kent said they will reinvest the money in the new development.
LandSec stocks (LON:LAND) are trading +4.69% at 673,60 (1544GMT).
