In its last trading statement six months ago the developer said construction would not begin on major projects at Mayfield in Manchester, Lewisham in south-east London, Finchley Road in north London and MediaCity in Salford until 2027.

That has now been pushed back further until not before “late 2027.” as the developer looks to an easing in affordable housing requirements and community infrastructure levies to make the schemes more profitable.

Landsec said: “Our focus is on securing these and other policy benefits, which could lead to an improved outlook returns in the future.

“Still, for now, capex spend on these projects will be very limited, as taking into account detailed design works, Building Safety Act approvals, and site preparation, the earliest starts on would not be before late 2027.”

The developer has secured a resolution to grant detailed consent for the first 879 homes at Mayfield in Manchester and secured resolution to grant part-outline and part-detailed consent for 2,800 homes in Lewisham.

This adds to the existing consents for 1,800 homes at Finchley Road in North London and an allocation for 2,700 homes at MediaCity in Salford.

Major retail schemes are the main focus of the firm as its London office development programme completes in the next few months and it waits for more favourable returns in the residential sector.