MARKET TALK: Land Securities Sale In Mayfair Welcome -JPMorgan

17th Jun 2010 08:12

0712 GMT [Dow Jones] Land Securities's (LAND.LN) sale of its Mayfair Park House development for GBP250M is "attractive" says an analyst at JPMorgan. "We did not expect this disposal." The analyst says the deal is positive for shareholders as it will be accretive to net asset value, it will crystallize profit with minimum risk and the company will be able to reinvest the proceeds. The analyst adds that the transaction shows demand for prime property remains strong. Neutral rating on the shares, 765p target. Shares +0.2% at 629p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 17, 2010 03:12 ET (07:12 GMT)