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. 

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