Land Securities is to co-invest in new retail ventures looking to open in the UK as part of an innovative strategy to help fill its shopping centres.

Land Securities will create a venture capital arm to help launch new retail chains, targeting overseas retailers that are not yet present in the UK.

It also hopes to attract fledging and internet brands looking for their first “bricks and mortar” stores.

The new division will mark a strategic departure for Land Securities, which is a traditional property owner and developer. It is aimed as a solution to the problem facing the retail property market by helping to minimise vacant sites.

Financial Times