Landsec, the owner of popular shopping destinations like Bluewater, is unveiling a new strategy that places a strong emphasis on retail, particularly in London and regional malls. Despite the numerous challenges plaguing the retail industry, Landsec firmly believes that not all retail is created equal, and its high-quality shopping centers will continue to attract customers. However, the company plans to divest its retail park assets, as well as certain hotel and leisure assets. London alone currently accounts for 64% of Landsec’s portfolio, and the company remains fully committed to the city.

The company sees great potential in recycling the capital generated from these divestments and reinvesting it into new growth opportunities. As part of its strategic vision, Landsec intends to reimagine its retail business by considering alternative uses for surplus space. The possibility of repurposing these spaces for housing, for instance, is being explored with great interest. CEO Mark Allan envisions a future where the pandemic becomes a distant memory and both city and suburban centers thrive once more.

Ultimately, Landsec aims to position itself to benefit from the long-term macro trends in the retail industry. By focusing on its core retail assets in prime locations and capitalizing on growth opportunities, the company hopes to maximize its returns and secure a strong position in the market.

Useful links:
1. Landsec Official Website
2. Landsec Property Portfolio