Landsec to focus on mixed-use sites outside London

One of Britain's biggest commercial landlords has announced it is shifting attention away from London offices to focus on mixed-use developments and projects outside the capital. Land Securities is planning to spend £1.5bn on developments that combine residential, office and retail space in the next five years, as staff spend more of their week working from home. As part of the strategy change, Landsec is set to sell £1.7bn of its London offices portfolio. Mark Allan, chief executive, said: "We have very few residential units as a business and it is an area that we see as a growth opportunity."

The Daily Telegraph