Land Securities, the owner of Glasgow’s Buchanan Galleries shopping mall, has reported record footfall in its UK shopping centres in the three months to December.
The London-based company, which is the UK’s largest property firm, said in a trading update that footfall was up 1.7 per cent on the same period the previous year, bucking the trend nationally where there had been a 2.3 per cent drop in retail footfall in the last quarter of 2015.
Chief executive Rob Noel warned that a UK exit from the European Union would have a devastating impact on London’s office market. “To say it would be not good news would probably be an understatement,” he said.
The FTSE 100 company said that retailer sales were up 1.2 per cent in the last quarter of 2015 compared with the same quarter of 2014. It sold £450.5 million of properties during the quarter and made £6.8m of acquisitions. The company will pay an interim dividend of 8.15p per share on April 8.
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