Land Securities sells office for £211m and HICL acquires Hector Rail stake
- Land Securities has sold the 123 Victoria Street office property in London to Seven Capital plc for a total consideration of £211m, according to corporate disclosures.
- The company holds a total valuation of £4.6bn and continues to progress toward its long-term capital-release target.
- In the transport and infrastructure sector, HICL Infrastructure has invested c.£68m to acquire a 42% stake in Hector Rail, operating as the largest private-sector rail freight operator in...
Land Securities has sold the 123 Victoria Street office property in London to Seven Capital plc for a total consideration of £211m, according to corporate disclosures. The 245 sq ft property sale yields a five-year net rental yield of 6%. With this transaction, Land Securities has offloaded £550m worth of offices since early 2025, maintaining its stated objective to release £2bn of capital by 2030.
Office Disposals and Capital Realignment
The company holds a total valuation of £4.6bn and continues to progress toward its long-term capital-release target. Serica Energy has announced its intention to transition from the AIM market to the Main Market, with completion anticipated before the end of October 2026. Serica currently carries a valuation of £1.05bn. Meanwhile, Chrysalis Investments completed the sale of its remaining shareholding in Klarna for £34m, initiating a compulsory capital redemption of c.£25m at 127p per share while retaining the remaining £9m.
Infrastructure and Industrial Contracts
In the transport and infrastructure sector, HICL Infrastructure has invested c.£68m to acquire a 42% stake in Hector Rail, operating as the largest private-sector rail freight operator in Scandinavia. The investment aligns with HICL’s medium-term total return target of exceeding 10% per year. Engineering contractor Keller secured an additional $650m contract variation relating to the I-40 project in the United States. The agreement expands Keller’s order book to c.£2.4bn, enhancing long-term revenue visibility while leaving its 2026 expectations unchanged.
Corporate Earnings and Financial Updates
Tullow Oil reported its half-year results, showing working interest production up 7.6% to 43.7 kboepd. Revenue rose 21% to $496m, although adjusted EBITDAX decreased 3.3% to $743m. Tullow maintains its full-year outlook at the high end of its 34-42 kboepd guidance, with free cash flow guidance remaining at $170 to $250m. Winvia Entertainment posted a 42.7% increase in first-half revenue to £109.7m, alongside a 142% rise in operating profit to £12.6m. The figures follow the company’s acquisitions of The Giveaway Guys and Win Life. Entain maintained its fiscal year 2026 underlying EBITDA guidance of £910m to £960m, though the firm expects results to land at the lower end of the range. The guidance holds despite an executive measure in Brazil enforcing a 120-day suspension on online sports betting and gaming operations, which requires congressional approval to become permanent.
Legal and Regulatory Proceedings
Burford Capital reported that a jury in a patent lawsuit involving Apple awarded $5.7 billion in damages to the plaintiff, establishing a potential financial entitlement of $1.4 billion for Burford. The company noted that the damages amount is subject to change through post-trial and appellate proceedings expected to span a considerable period. In acquisition developments, CVC decided against making a firm offer for Bodycote, leaving Veritas’s existing firm offer of 940p per share unchanged. Capricorn Energy confirmed that DNO’s final offer of $5.214 per share remains unchanged, with DNO declining to counter Genel’s increased offer from the previous week.