Whittaker increases stake in Land Securities

THE boss of Peel Holdings, John Whittaker has been buying up shares in one of Europe’s biggest property companies.

Through Albright Investments, which is a member of the Peel group, he has made three transactions in as many weeks and now has a 5.11 per cent stake in Land Securities.

Mr Whittaker is known as one of the shrewdest operators in the business, and industry observers believe he will be very active in the present climate, picking up bargains along the way.

One said: “The state of the current property sector plays right into his hands, and once again he is buying shrewdly at the bottom end of the market.

“Unlike many in the business, Peel Holdings is very well resourced and I would expect to see a lot more transactions from him in the near future.”

Land Securities is currently transforming itself into a real estate investment trust and is selling off parts of the business including its property management company, Trillium.

Trillium, which manages schools and hospitals on behalf of the government, is tipped to be bought by glamorous city dealmaker Amanda Staveley through her PCP Capital Partners consortium in a £1.1bn deal.