In a statement released today, Francis Salway, chief executive, commented:

"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 Daily Telegraph yesterday reported that the UK’s largest property developer was considering breaking up the company, following a 20% fall in shares since the beginning of this year.

The Company has said that the review is progressing well and further updates will be provided.