Laxey Partners is calling for Land Securities to buy back up to 20% of its share capital to improve its share price performance. Sunday Times

The demand from Laxey comes just days after LandSecs announced plans for a radical three-way break-up.

Shares in LandSecs are trading at a 34% discount to the underlying value of its assets.

Colin Kingsnorth, who runs Laxey, said: 'If the company really believes its published net asset-value figure, the discount means that purchasing its own stock is the most interesting asset it could buy at the moment.'

Kingsnorth said he was disappointed that LandSecs failed to discuss its recent share price performance or make reference to the large discount when it announced the results of a strategic review and half-year financial results last week.