Landsec posts loss of £622m in FY22 amid falling valuations
However, the group’s net debt narrowed due to the successful disposal of mature offices worth £1.4bn, which were mostly located in London
Landsec experienced a loss before tax of £622m as a result of a 7.7% decrease – worth £848m – in its portfolio value for the financial year ended 31 March, as interest rates surged and economic worries impacted property valuations.
You'll need to subscribe to unlock this content. Already subscribed? Login?