Land Securities is investing £5m in a venture capital company to back new and expanding retailers.
The company, which will exist independently of the landlord’s real estate investment trust, will aim to bring new businesses to the market, particularly targeting small retail companies, international brands and e-commerce specialists.
It is not clear yet what the company will be called, but it is understood that it will be made up of a team of five Land Securities staff.
The backing provided to retailers by the company is conditional on them taking space in Land Securities’ shopping centres.
Retailers that receive backing from Land Securities will pay the landlord a portion of their profits once they are established and successfully trading.