May 18 Britain's largest listed property
developer Land Securities warned that Brexit had
created business uncertainty in the London office market,
leading to falls in demand, rental values and construction
The developer behind London's "Walkie Talkie" skyscraper
reported a 1.2 percent fall in adjusted diluted net asset value
- a measure of a developer's buildings - to 1,417 pence for the
year to March 31.
Analysts on average had expected adjusted NAV of 1,372
pence, according to a company-supplied consensus.
"We won't be sure of the long-term effect of Brexit on our
markets for some time.... We're taking this time to prepare the
business for the opportunities and challenges we see ahead,"
Chief Executive Robert Noel said in a statement.
(Reporting by Esha Vaish in Bengaluru; editing by Jason Neely)