L&S hunts £1bn opportunities

London & Stamford (L&S) is hungry for investment opportunities in central London. Raymond Mould, chairman, said on the announcement of the company’s full-year results that it saw potential for outperformance in the central London residential market, the distribution sector and in prime retail investments.

He described “exciting opportunities” for the further investment of about £1bn of firepower.

“We have continued to invest equity well and to add shareholder value through the implementation of asset management initiatives and to realise a gain on the disposal of the Racecourse Retail Park at Aintree for a return on our equity of 127 percent.”

Mould said L&R had undertaken significant organisational change during the year, electing for UK REIT status, internalising the management of the company and moving onto the Official List to trade on the main market of the London Stock Exchange.

L&S reported pre-tax profit down from £104,832 to £56,774. Net asset value per share increased from 120.1p to 122.5p but, with adjustment, rose five per cent to 126p.