Property upturn lifts graduates - graduate jobs

Business graduates have been handed a boost after Land Securities praised a "dramatic turnaround" in the commercial property sector by reporting a move back into profit for the past year.

One of the UK's biggest commercial property firms, Land Securities revealed annual pre-tax profits of £1.07 billion for the 12 months to the end of March after its portfolio grew by over 10%. The news follows a previous loss of £4.7 billion.

Although the firm's capital values increased, rental values experienced a 6% like-for-like drop across its property portfolio in the last 12 months.

Its portfolio includes Cabot Circus in Bristol, Gunwharf Quays in Portsmouth and a number of London offices. Its One New Change office and retail scheme in central London is now 90% let, officials confirmed.

Chief executive Francis Salway said: "The year saw a dramatic turnaround in the UK commercial property market, with falling values in the first six months giving way to a rapid recovery in the second half."