Land Securities Sells Grand Buildings, Trafalgar Square

LONDON-Land Securities has raised pounds 140 million ($223 million) with the sale of its landmark Grand Buildings on Trafalgar Square, London WC2 to Noriba Bank, a member of the UBS Group.

By Graham Parker | July 21, 2003 at 01:01 AM

Mark Collins, Chief Executive of Land Securities Portfolio Management, said: "During the period of our ownership of Grand Buildings, LandSecurities has created significant value for its shareholders through both the original development and subsequent lettings. The proceeds of the sale will be reinvested back into group activities which we believe offer better earnings and growth potential."

Land Securities was advised by Jones Lang LaSalle.

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