Nov 14 (Reuters) - British commercial property company Land Securities Group (LAND.L) expects between low and mid single-digit percentage growth in annual London rental values despite continued pressure on building valuations.
Valuations have been hit by high interest rates, hurting investment business within the sector and offsetting relatively better performance on the operational front.
Landsec, which in May said it would invest more in prime retail space buoyed by a positive outlook for that portfolio, expects earnings per share for the full year to be broadly stable compared with last year's 50.1 pence.
Central London accounts for about two thirds of Landsec's property portfolio.
Its half-year pretax loss deepened by 0.5% to 193 million pounds ($237.3 million), hurt by declining property valuations.
Persons:
Mark Allan, Aby Jose Koilparambil, Rashmi Aich, David Goodman
Organizations:
Land Securities Group, FTSE, Thomson
Locations:
London, Central London, Mayfield, Manchester, Bengaluru