Land Securities agreed a GBP 516 million deal: what it means for Land Securities stock

Published on 10/08/2026 at 18:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The Metrocentre deal implies a 7.90 percent net rental yield. Land Securities stock costs EUR 7.21 on October 8, 2026 versus its EUR 7.20 prior close.

Land Securities agreed a GBP 516 million acquisition of Metrocentre on October 1, 2026.
The deal implies a 7.90 percent net rental income yield on GBP 41 million of in-place income.
Land Securities stock was at EUR 7.21 at Lang & Schwarz on October 8, 2026, plus 0.14 percent versus its EUR 7.20 prior close.
The company completed a GBP 500 million equity placing priced at 600 pence per share.

Land Securities, GB00BYW0PQ60, Illustration mit AI erstellt.

Land Securities agreed a GBP 516 million deal for Metrocentre on October 1, 2026, with the acquisition implying a 7.90 percent net rental income yield on GBP 41 million of in-place income, according to FT.com. The transaction is the latest step in Landsec's retail expansion strategy, but completion remains conditional on bondholder consent and the dissolution of a legacy entity.

What does Metrocentre mean for income?

The acquisition gives Landsec 100 percent control of Metrocentre in Gateshead, a shopping destination with 282 stores, 1.86 million square feet of lettable space and over 16 million annual visitors, according to FT.com. Overall occupancy is 95 percent, while the adjacent retail park adds 15 units and 0.2 million square feet.

The deal also changes Landsec's financing profile. The company plans to fund part of the purchase through new equity and existing debt facilities, while its stated retail strategy targets further investment in major destinations.

Landsec's capital moves in 2026

On September 28, 2026, Land Securities sold the 123 Victoria Street office property for GBP 211 million, according to Stockopedia. On October 1, 2026, it agreed the GBP 516 million Metrocentre acquisition, then completed a GBP 500 million equity placing priced at 600 pence per share, according to Ticker. The placing comprised 83,345,000 new shares, equal to 11 percent of the issued ordinary share capital before the transaction.

Which dates matter next?

The dissolution of a legacy entity from the Intu Properties group is expected on October 9, 2026, while completion of the Metrocentre acquisition is expected by the end of October, according to FT.com. The company said bondholder support representing more than 80 percent of the relevant bonds had indicated an intention to support the restructuring and acquisition.

Stock price and capital value

Land Securities stock was trading at EUR 7.21 at Lang & Schwarz on October 8, 2026 at 6:30 p.m. CEST in after-hours trading, up 0.14 percent versus the Lang & Schwarz prior close of EUR 7.20 on October 7, 2026. On the London Stock Exchange, the stock was last at GBp 601.00 on October 8, 2026 at 4:50 p.m. London time, while its 52-week range was GBp 525.00 to GBp 726.00.

Land Securities had a market capitalization of GBP 4.5 billion as of October 8, 2026. The further course of trading is shown by the continuously updated real-time quote of Land Securities stock.