ST JOHN’S shopping centre owners, Land Securities, bucked the trend of falling commercial property prices as it announced a third-quarter profit of £17.7m yesterday.
It sold properties worth £507.8m in the three months to Decem- ber 31 at 5.6% above their September valuat- ion.
The company operates more than 82,000 sq m of retail space in Liverpool at St John’s, Williamson Square, Clayton Square, and Aintree Racecourse Retail Park.
Land Securities’ chief executive Francis Salway said:
“We anticipated a weakening in the pricing of property investments, and in the 2007 calendar year sold over £2bn worth of properties. In the quarter, we maintained our programme of property sales.”
