Brand evolution includes new website and permanent name-change

Nova

Developer Land Securities has unveiled a brand overhaul, including the changing of its name to Landsec.

The FTSE 100 property giant said that the evolution of its brand had built on its philosophy that 鈥榚verything is experience鈥�.

Landsec chief executive, Robert Noel said: 鈥淎t Landsec, experience is at the heart of what we do, it鈥檚 not just about bricks and mortar. In a world where people have many choices about where they shop, dine, work, live or spend time, its experience that matters.

鈥淭his is a natural evolution; in fact, people often refer to us as Landsec already. The focus on experience isn鈥檛 a new approach, it鈥檚 just a clearer way of explaining what matters to us.

鈥淥ur updated brand reflects our culture, our people and our approach, putting the experience of our customers, communities, employees and partners at the heart of everything we do.鈥�

Landsec, which completed the first phase of its 拢2.2bn scheme Nova in London鈥檚 Victoria district in April, has a 拢14.4bn portfolio totalling 23.2 millionft2.

The firm in its full-year results last month reported a drop in its pre-tax profit from 拢1.2bn last year to 拢112m for the year to March 2017, which it said was primarily down to valuation changes. However, revenue profit increased by 拢20m to 拢382m, up from 拢362m.

Landsec鈥檚 development pipeline includes the second phase of Nova comprising a 16-storey office building with ground floor retail, but the company said it would only start on site 鈥渨hen the time is right鈥� for the project.

Elsewhere in London, the firm redeveloping 21 Moorfields above Moorgate underground station in the City, where the demolition phase has now completed and Landsec is also conducting a feasibility study for a 360,000 sq ft scheme at Red Lion Court.

Noel said at the time that the shift between demand and supply in the London office market had been brought forward by Brexit. He added that while there was a reduction in construction, lower occupational demand and a fall in rental values it was less than expected.

鈥淧ut simply, our markets remain in good health but they鈥檝e paused for breath,鈥� he said.

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