Land Securities Group, Britain's largest listed property developer, says if the UK decides to exit the European Union, it would hurt occupier demand and could reduce commitments around new constructions particularly in London.
The market was facing some uncertainty ahead of the June 23 referendum vote, Land Securities said.
The company is well positioned irrespective of the outcome of the vote, it said, as strong demand for commercial property helped it post a rise in asset value for the year.
Adjusted diluted net asset value per share, which reflects the value of a property company's buildings, rose 10.9 per cent to 1,434 pence in the year ended March 31, Land Securities said.
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