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Landsec swings back into profit as office working resumes
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One of Britain’s biggest property firms, Land Securities, has swung to a half-year profit, helped by a recovery in central London office rents as many people have returned to their workplaces, at least some of the time.
The Bluewater owner said the reopening of retail and a revival in office working had driven the first rise in the value of its property portfolio in five years. It rose by £81m, or 0.8%, to £11bn in the six months to 30 September.
LandSec’s portfolio is 70% made up of central
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