No panic after Land slide hits

PROPERTY firm Land Securities reported an 8.8 per cent slide in the value of its portfolio but said it was outperforming industry benchmarks and its planned demerger was going well.

The UK’s largest commercial real estate firm, which owns the Almondvale Shopping Centre in Livingston, said today that the value of its largely office and retail properties fell £1.28 billion in the year ended March 31 to around £13.58 million.

“The market is demanding but we have performed well in relative terms this year,” said chief executive Francis Salway.