Landsec Secures bp as Anchor Tenant for Timber Square Global HQ

Land Securities Group plc REIT ( (GB:LAND) ) has issued an update.

Landsec has agreed a 192,000 sq ft lease with bp for the entire 15-storey Ink building at its newly completed Timber Square development in Bankside, SE1, which will serve as bp’s new global headquarters and leaves the scheme 54% let. The deal, alongside strong take-up at MYO Kings Cross and healthy interest in the forthcoming Thirty High development in Victoria, underlines robust demand for prime, highly sustainable office space in central London and reinforces Landsec’s positioning as a leading provider of low-carbon, amenity-rich workplaces.

Timber Square comprises the Ink and Print buildings arranged around a new public square, delivering all-electric, net-zero oriented offices that retain 85% of the original structure in the Print building and use hybrid timber-steel construction in the Ink tower, touted as the tallest of its kind in Europe. With excellent transport links near Waterloo, London Bridge and Blackfriars, and proximity to major leisure destinations such as Borough Market, the scheme is designed to support employee wellbeing and talent attraction, highlighting how sustainability, location and experience are increasingly central to occupier decisions in London’s office market.

The most recent analyst rating on (GB:LAND) stock is a Hold with a £670.00 price target. To see the full list of analyst forecasts on Land Securities Group plc REIT stock, see the GB:LAND Stock Forecast page.

Spark’s Take on LAND Stock

According to Spark, TipRanks’ AI Analyst, LAND is a Outperform.

Land Securities Group plc demonstrates strong financial performance and positive technical indicators, supported by a favorable earnings call. The company’s strategic focus on retail and office leasing, along with attractive valuation metrics, contribute to a positive outlook. However, caution is warranted due to increased debt levels.

To see Spark’s full report on LAND stock, click here.

More about Land Securities Group plc REIT

Land Securities Group plc, known as Landsec, is one of the largest real estate companies in Europe, with a £10 billion portfolio focused on premium workplaces, leading retail destinations and a growing residential pipeline across the UK. The group specialises in shaping high-quality urban places that prioritise connectivity, sustainability and modern amenities to support businesses and enhance urban life.

Average Trading Volume: 2,782,545

Technical Sentiment Signal: Buy

Current Market Cap: £4.37B

For an in-depth examination of LAND stock, go to TipRanks’ Overview page.