Land Securities Group PLC (LSE:LAND)’s final results next Friday, 17 May come hot on the heels of the sale of its hotel portfolio, but more on the disposal programme will be needed.
That’s according to UBS analysts, who noted no surprises were expected in the report as overrented leases approach expiry and “economically unviable” projects remain.
“They have guided towards disposing of £1.2 billion of non-core assets, so an update on progress on these sales will be necessary,” UBS analysts said.
Land Securities announced the £400 million sale of its hotel portfolio on Wednesday, highlighting a wider refocus on areas where it has a competitive advantage.
“We expect to hear a lot on the positive dynamics for prime central London offices and their shopping centre portfolio,” UBS said as a result
More evidence on market rental growth will likely be given, though questions will circle around disposals, funding for its Southbank office schemes and outlook on urban mixed-use projects.
“We currently see [these] as economically unviable,” UBS noted on the latter.