Land Securities Regulatory News (LAND)

Westgate Oxford Alliance, a joint venture between Landsec and The Crown Estate, today opens Westgate Oxford, the 800,000 sq ft retail and leisure destination at the heart of Oxford city centre.

The £440 million development, which is 93% pre-let or in solicitors' hands, is anchored by a 140,000 sq ft John Lewis and includes stores from Uniqlo, Primark, Ted Baker, Victoria's Secret Pink, MAC and Tommy Hilfiger.

Westgate Oxford is one of the most sustainable retail destinations in the country. An innovative energy loop delivers heating and cooling to shops and restaurants, using air source heat pumps in place of conventional boilers. This system avoids the use of natural gas, keeping costs down for retailers and reducing reliance on fossil fuels.

The construction of Westgate Oxford created around 1,000 jobs, and we worked closely with social enterprise, Aspire Oxford, to create employment programmes in construction and customer service, to get ex-offenders, the long-term unemployed and those who have been homeless in the past into work. The centre itself will create 3,500 full-time-equivalent retail jobs.

Scott Parsons, Managing Director, Retail at Landsec said, "In Westgate Oxford, we have embraced the challenge of creating a best in class, sustainable development that meets the changing demands of modern customers while being sympathetic to the setting of an historical city.

"Delivering an outstanding experience for visitors and retailers alike, with a dynamic combination of retail, leisure and food and beverage, has been key to attracting great brands to the centre and we are looking forward to welcoming visitors from Oxford and beyond."

Hannah Milne, Director of Regional Retail at The Crown Estate, said: "We knew that we had to deliver something special for one of the world's most famous and vibrant cities. We have worked hard with our partners at Landsec to design Westgate with the whole of Oxford in mind and created the largest retail development to launch in the UK this year, filling a much-needed retail need in the heart of the city. By combining fashion, food and film with inspiring rooftop views and bold architecture, all set within the sights and sounds of an historical British city, we believe we have created a truly game-changing shopping and leisure experience for everyone."

Four different architects worked closely with masterplanners, BDP, to create distinct blocks of the development, drawing inspiration from the surrounding areas. Glenn Howells Architects was influenced by the Bodleian Library, while Panter Hudspith Architects took its inspiration from typical Oxfordian architectural features such as the impressive colonnades. Allies and Morrison drew on the evocative oak panelling in several college dining rooms and Dixon Jones, responsible for the Bonn Square façade, looked to Campion Hall on nearby Brewer Street.

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For media enquiries or imagery, please contact:

The Westgate Oxford Alliance press team at Teneo Blue Rubicon on +44 (0) 207 260 2700 or email WestgateOxford@teneobluerubicon.com

Notes to editors

Westgate Oxford Alliance, a joint venture between Landsec and The Crown Estate, acquired the Westgate Centre from CSC in 2010.

For a full list of retailers please visit www.westgateoxford.co.uk

Landsec

At Landsec, we believe great places are for people to experience and are made with the experience of great people. As the UK's largest listed commercial property company, with 23.2 million sq ft of real estate and a portfolio valued at £14.4 billion, we own and manage some of the most successful and recognisable assets in the country.

In London, our portfolio totals more than £8.3 billion, and consists of 6.5 million sq ft of real estate. From the world-famous Piccadilly Lights to the transformation of Victoria, SW1, we deliver exceptional experiences for the businesses and people that live and work in, and visit, the capital.

In Retail, across our 16.7 million sq ft of assets, we create outstanding experiences for customers and guests alike. Combined with the strength and resilience of our portfolio, this means we regularly

outperform industry benchmarks for footfall and sales. We offer more than convenience and choice,

recognising that memorable destinations are key to attracting the shoppers and retailers of today, and tomorrow.

We also aim to lead our industry in critical long-term issues - from diversity and community employment, to carbon and climate resilience. Everything we do is grounded in experience and begins with people.

We deliver value for our shareholders, great experiences for our customers and positive change for our communities. At Landsec, everything is experience.

Find out more at landsec.com

About The Crown Estate:

The Crown Estate is a specialist real estate business, with a £13bn portfolio, focused on commercial property in central London, prime regional retail and offshore wind. Established by an Act of Parliament, as an independent commercial business, it returns 100% of its annual profits to the Treasury for the benefit of the public finances. This has totalled £2.6bn over the last ten years.

The Crown Estate manages a £2.4bn portfolio of prime retail and leisure destinations, comprised of 15 retail parks, three shopping centres and one leisure scheme. The 4.3m sq ft portfolio attracts 100 million shoppers each year. As a specialist property manager of retail and leisure, The Crown Estate leverages its expertise to deliver brilliant places that deliver value for customers and communities.