Land Securities chief executive Francis Salway confirmed today that the group is ‘well progressed’ with a review of its business structure to try and improve its poor share performance since converting to a REIT.

In an announcement to the Stock Exchange, Salway said: 'It became evident to us in the run up to and following REIT conversion that we should test our current business structure against alternative options to ensure that we have the optimal structure for creating long term shareholder value.’

The announcement came in the wake of speculation that Land Securities was looking into the possibility of breaking up the company, which might include the possibility of de-merging its outsourcing arm, Land Securities Trillium.