British Land : BLND

20 Nov 2024 2 min read

QuotedData’s morning briefing 20 November 2024 – SWEF, HICL, BLND, GRIO, GRP

In QuotedData’s morning briefing 20 November 2024: Starwood European Real Estate Finance (SWEF) reports a drop in its NAV from 105.61p at end September to 99.38p at end October. Most of this fall relates to an impairment provision made against one asset, but it is not saying what this is. HICL Infrastructure (HICL), reporting six-month […]

03 Oct 2024 3 min read

British Land raises £301m to part fund retail park acquisition

British Land raised £301m in a placing, retail offer and subscription and will use the proceeds to part fund the acquisition of a portfolio of retail parks for £441m. In aggregate 71,227,309 new ordinary shares were placed at a price of 422 pence, which represents a discount of 3.6% to the closing price on 2 […]

24 Sep 2024 1 min read

QuotedData’s morning briefing 24 September 2024 – NRR, LMP, BLND, API, BPCR

In QuotedData’s morning briefing 24 September 2024: The boards of NewRiver REIT (NRR) and Capital & Regional (CAL) have reached agreement on the terms of a deal that would see NRR acquire CAL and are recommending shareholders of both companies to vote in favour of it. The deal would see each CAL share receive 31.25p […]

22 May 2024 2 min read

British Land posts robust results, with values stabilising

British Land has posted a robust set of annual results during one of the most turbulent periods, with EPRA net tangible assets (NTA) falling 4.4% to 562p in the year to 31 March 2024. The value of its portfolio was down 2.6% to £8,684m, and down just 0.2% in the second half of the year, […]

20 May 2024 1 min read

British Land sells Meadowhall stake for £360m

British Land has exchanged contracts to sell its 50% stake in the Meadowhall Shopping Centre to its joint venture partner Norges Bank Investment Management for £360m. The sale was in line with the company’s strategy to focus on retail parks and reduce exposure to shopping centres. The sales price, which values the whole site (including […]

18 Mar 2024 1 min read

British Land sells stake in 1 Triton Square for £192.5m

British Land has sold a 50% stake in its 1 Triton Square, in London’s Regent’s Place, to Royal London Asset Management Property for £192.5m. This is the building that Meta (Facebook) surrendered its lease on last year, paying British Land £142m in order to walk away from its lease agreement. The combined impact of the […]

26 Sep 2023 1 min read

QuotedData’s morning briefing 26 September 2023

In QuotedData’s morning briefing 26 September 2023: ICG Longbow (LBOW) says it has appointed a receiver over the property securing its Affinity loan. This gives it more control over the sale of this property. Rent is still being collected, covering the interest owed to the fund. Elsewhere in the portfolio, the sale of a hotel […]

25 May 2023 2 min read

QuotedData’s Property Investment Conference 2023

Welcome to the videos from the Property Investment Conference 2023. The conference was for property analysts and REIT investors from all the major asset management groups, banks, stockbrokers, wealth managers and IFA Groups. Private investors were also welcomed this year via live streaming who were able to follow the panel discussions and expert speakers. We […]

28 Jul 2022 2 min read

QuotedData’s morning briefing 28 July 2022

In QuotedData’s morning briefing 28 July 2022: Ecofin US Renewables (RNEW) says that its end June NAV was 97.32 cents, down slightly from the figure of 97.64 cents at end March. The main infuences on the NAV over the quarter were an inflation/interest related increase in discount rates used to value the portfolio (-$3.5m) offset […]

18 May 2022 2 min read

British Land continues to recover from pandemic lows

British Land delivered a NAV total return for the year to March 2022 of 15.6% as the value of its portfolio continues to recover from the pandemic lows. The company’s EPRA Net Tangible Assets (NTA) was up 12.2% to 727p, while it paid dividends during the year totalling 21.92p. Its portfolio valuation rebounded 6.8% on […]

25 Apr 2022 2 min read

British Land sells chunk of Paddington Central for £694m

British Land has agreed a deal to sell a 75% stake in its Paddington Central assets to GIC for £694m. The transaction establishes a new joint venture with ownership split 75:25 for GIC and British Land respectively. The price paid is 1% below September 2021 book value and represents a net initial yield of 4.5%. […]

08 Mar 2022 1 min read

British Land partners with AustralianSuper to bring forward Canada Water masterplan

British Land has sold 50% of its stake in the Canada Water Masterplan to AustralianSuper for £290m. Following completion of the sale, British Land and AustralianSuper, which is one of Australia’s largest pension funds, will form a 50:50 joint venture to accelerate the delivery of the 53-acre development, which is one of the largest London […]

02 Feb 2022 2 min read

British Land continues urban logistics growth with £157m purchase

British Land has exchanged contracts to acquire three warehouses in Wembley for £157m, as it continues to build its urban logistics exposure. The three warehouses comprise over 245,000 sq ft on a 12.5 acre site and are fully let to Amazon, Euro Car Parts and the North London Waste Authority generating an annual income of […]

26 Aug 2021 1 min read

British Land shares update on new strategy

British Land shares update on new strategy – British Land (BLND) has today published an update on its strategic progress, after first announcing its new business model and strategy in May 2021. Since highlighting its plans to “more actively focus capital on competitive strengths in development, active management and repositioning assets [by] investing behind campuses […]

26 May 2021 4 min read

Sharp falls in retail property hit British Land

Sharp falls in retail property hit British Land – Over the year ended 31 March 2021, British Land’s NAV fell by 16.3% to 648p. The full year dividend totalled 15.04p, based on 80% of its earnings per share, pre-COVID the dividend for the year ended 31 March 2019 was 31.0p. Headlines are: Financial performance reflects the […]

25 May 2021 3 min read

QuotedData’s morning briefing 25 May 2021

In QuotedData’s morning briefing 25 May 2021 – Lowland (LWI), the UK equity income fund, reported its interim results to 31 March 2021, with a total NAV return of 33.0% coming in well ahead of its benchmark (the FTSE all-share index). LWI’s focus on the industrial and financial sectors, as well as its value bias, drove performance. […]

30 Apr 2021 2 min read

QD view – Rent Wild West needs a solution

After last week’s news that several property landlords, including AEW UK REIT, had successfully sued some of its tenants for rent arrears that had amassed during the COVID pandemic, two of property’s big boys – Land Securities and British Land – have set up plans for a more amicable solution to the rent conundrum. The […]

16 Apr 2021 1 min read

QuotedData’s weekly news show 16 April 2021

QuotedData’s weekly news show 16 April 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Schroder British Opportunities’ new investment Brevan Howard funds update Richard Williams also covered British Land’s strategic review of […]

2 min read

QD view – British Land’s bold move too late?

Portfolio shake-ups seem to be all the rage among listed property companies at the moment. Those with large exposure to retail certainly need to be doing something to stem the flow to valuation falls. The words horse and bolted come to mind. No-one could have foreseen a global pandemic, but the effects of online retailing […]

14 Apr 2021 2 min read

British Land moves into logistics development

British Land has acquired a warehouse in Enfield for £87m and has announced plans for 1m sq ft of urban logistics development at two of its shopping centre sites. It is the first foray into the burgeoning logistics sector for the REIT, which has traditionally had a portfolio focused on offices and retail. It has exchanged […]

08 Apr 2021 1 min read

British Land pre-let 134,000 sq ft at Broadgate office

British Land has pre-let 134,000 sq ft of office space at its 1 Broadgate development in the City of London. It has signed a deal with real estate consultancy firm JLL on a 15-year term. The deal represents almost 30% of the office space in the new 546,000 sq ft mixed-use scheme. Demolition of the […]

1 min read

QuotedData’s morning briefing 8 April 2021

In QuotedData’s morning briefing 8 April 2021: Schroder UK Public Private has slashed the value of its Rutherford Health investment to £34m from £81m. The statement says “The valuation of Rutherford Health has been reduced to reflect slower than expected commercial progress and increased risk to the business outlook for equity holders.” This offsets good news […]

19 Mar 2021 3 min read

QD view – property one year on from lockdown

Tuesday next week will mark a year to the day that Boris Johnson announced the UK would go into full lockdown in a bid to curb the COVID-19 pandemic. It seems unbelievable that a year later we are still in a lockdown. The successive lockdowns have hugely impacted the property sector – mainly negatively (as […]

11 Jan 2021 1 min read

British Land receives 71% of rents for first quarter

British Land has provided an update on operational performance in which rent collection was at 71% for the first quarter of 2021. The group said of the £86m billed (which doesn’t include Scottish assets that are billed in February and quarterly payments for February and March), 24% was outstanding – the majority of which was […]

23 Dec 2020 2 min read

British Land agrees £401m West End offices sales to Allianz Real Estate

British Land (BLND) announced it has exchanged upon the sale of a 75% interest in a portfolio of three buildings in London’s west end to Allianz Real Estate (acting on behalf of several Allianz Group companies) for £401m. The transaction represents a blended net initial yield of 4.32%, a premium to September book value and is […]

18 Dec 2020 2 min read

British Land completes drawdown of 500-year headlease with Southwark Council

British Land (BLND) has announced that, following confirmation in May that planning has been secured at Canada Water, it has now completed the drawdown of the 500-year headlease with Southwark Council. In addition to this, it has signed its first pre-let with new higher education enterprise, TEDI-London, which has chosen to locate its new campus […]

04 Dec 2020 2 min read

QD view – What next for Debenhams, Arcadia landlords?

The retail Armageddon took another sobering twist this week, with the liquidation of department store Debenhams and former high street fashion kingpin Arcadia Group going into administration. The headline numbers are shocking, the main one being that around 25,000 jobs are at risk. From a property point of view, the double collapse could see up […]

20 Nov 2020 2 min read

QD view – The valuation game

Commercial property valuation has been a bone of contention for years. It is generally accepted that valuers are slow to react to changes in the sector. Just look at the recent history of retail valuations. Despite clear evidence that rents were falling due to the impact on retailer demand for space caused by a boom […]

18 Nov 2020 1 min read

British Land makes £177m sale and reports gloomy half-year results

British Land has announced the sale of a West End development for £177m, at a 7.6% premium to book value, as well as half-year results. The group disposed of Clarges Mayfair, which consists of 50,000 sq ft of offices, 15,000 sq ft of retail and 34 residential apartments. It acquired the site in 2012 and […]

16 Oct 2020 2 min read

QD view – Rent collection nuggets

Fourth quarter rent collection figures have been coming in thick and fast over the past week or so and overall they show a general improvement on collection rates during the COVID-19 pandemic. There are a few nuggets to come from the announcements so far. The first thing to say is that collection rates have improved […]

09 Oct 2020 1 min read

British Land and Land Securities reveal quarterly rent collection figures

The two listed real estate giants – British Land and Land Securities – both published rent collection figures today that sum up the division in the property market. Both companies own London offices as well as large retail portfolios. On the offices front, both received a large majority of rent billed for the final quarter […]

10 Sep 2020 1 min read

New CEO for British Land

New CEO for British Land – Chris Grigg has informed the board of British Land of his intention to step down as CEO and from the British Land board. Chris will step down as CEO following delivery of the company’s 2021 interim results on 18 November 2020 and leave the board and the company on 31 […]

28 Aug 2020 2 min read

Working from home or back to work?

The debate around the future of the office continues to rage. It was reported today that the government is likely to set about on a campaign to get people back to the office. If the economy is going to bounce back quickly, cities like London, Manchester and Birmingham buzzing with office workers will certainly help. […]

21 Aug 2020 2 min read

An unlikely saviour of shopping centres

The conundrum of what to do with the vast amount of vacant space in shopping centres has been staring landlords in the face for years. The solution has been mulled over countless times by the biggest landlords, but a deal to convert space left over by ailing department stores into logistics space has yet to […]

01 Jul 2020 1 min read

Initial retail rent collection figures for June revealed

Two big retail landlords, Hammerson and British Land, have revealed rent collection levels of just 16% and 36% for the quarter June to September 2020. Rent collection for the quarter, which is paid in advance, fell due on 25 June and the two group’s today revealed just how bad the figures are for the retail […]

27 May 2020 1 min read

British Land’s portfolio valuation plummets 10.1%

British Land has reported a 10.1% drop in the value of its property property as the covid-19 pandemic takes its toll on the group’s retail portfolio. For the year ending 31 March 2020, British Land’s portfolio valuation plummeted by £1.2bn, from £12.3bn to £11.1bn. The FTSE 100 REIT said that the drop was driven by […]

01 May 2020 2 min read

The end of the office? No sirree

How the real estate sector adapts to a ‘new normal’ following covid-19 could have huge implications for listed property companies. QuotedData has reported on the likely effects on the retail and logistics sectors as well as the impact on valuations. One of the biggest unknowns, however, is the outlook for the office sector. This week […]

20 Apr 2020 1 min read

Retail landlords call for rental support scheme

Retail property landlords have called on the government to implement a rental support scheme as the covid-19 induced lockdown continues to hit income. Groups including British Land and Land Securities have teamed up with some of the biggest UK retailers to write to chancellor Rishi Sunak with their concerns, the FT reported today. They want […]

26 Mar 2020 1 min read

British Land suspends dividend and offers retailers rent holidays

British Land has suspended its dividend payments and said it was offering smaller shopping centre tenants a three-month rental holiday due to covid-19. The group said larger retailers and leisure tenants would be able to spread payments over the six quarters from September 2020. The company, which owns and develops office and retail property, said […]

11 Feb 2020 1 min read

Supermarket Income REIT in talks to acquire 26-strong Sainsbury’s portfolio

Supermarket Income REIT is in discussions to acquire a minority stake in a portfolio of 26 Sainsbury’s supermarkets. The group is in talks with a large institutional investor to form a joint venture partnership to buy British Land’s 26% stake in the portfolio, which is reportedly worth around £105m. The properties, which are all let to […]

13 Nov 2019 1 min read

Retail problems weigh heavy on British Land as NAV falls 5.4% in half-year results

Property giant British Land suffered a 5.4% fall in net asset value (NAV) while losses plunged further as the woes of the retail sector impacted on the group’s half-year results. The group’s NAV for the six months to the end of September fell to 856p, while its pre-tax losses jumped from £48m last year to […]

15 May 2019 2 min read

British Land NAV drops on retail woes

British Land NAV drops on retail woes – British Land has published results covering the year to the end of March 2019. Highlights are: EPRA NAV down 6.4% at 905p, with buybacks contributing 10p Portfolio value down 4.8%; Retail down 11.1%, Offices up 1.1% and developments up 10.8% Underlying EPS down 6.7% to 34.9p due primarily […]

09 Feb 2018 2 min read

British Land buys Woolwich Estate

British Land buys Woolwich Estate – British Land has acquired the Woolwich Estate, a retail-focused, multi-use estate covering 4.9 acres in south east London for a headline price GBP103 million representing a net initial yield of 4.1%. Part of the attraction for British Land is that it builds their portfolio of places benefitting from the Elizabeth Line, […]

26 Sep 2017 1 min read

Investment Trust Insider on Custodian REIT

James Carthew: Custodian captures investors’ attention A cloud still hangs over the likes of Land Securities (LAND) and British Land (BLND), whilst Intu Properties (INTU), the shopping centre specialist, is hitting new multi-year lows. However, there is a clear distinction between these older, self-managed real estate investment trusts (Reits) and the newer, externally managed Reits. […]

13 Jun 2017 1 min read

Investment Trust Insider on UK property

Brexit isn’t all bad news for UK property The past couple of weeks have seen a clutch of results announcements by the larger real estate investment (REIT) and property trusts. The periods they are reporting on incorporate the run up to the referendum vote and its aftermath, and adverse changes to the stamp duty regime. […]

17 May 2017 2 min read

British Land NAV down 0.4% over the year

British Land has announced results for the year ended 31 March 2017. It says that its EPRA NAV fell very slightly, by 0.4% to 915p. Underlying profit rose by 7.4% to GBP390 million (2015/16: GBP363 million) and, on the back of this, diluted underlying earnings per share were up 10.9% to 37.8p. They are paying […]

06 Mar 2017 1 min read

British Land and Oxford Properties exchange contracts for the sale of The Cheese Grater

Further to their announcement that they were in discussions regarding the potential sale of the Leadenhall Building (affectionately known as The Cheese Grater), British Land and Oxford Properties have announced that they have exchanged contracts for the sale of The Leadenhall Building, to C C Land, for a headline price of £1.15 billion. Completion is […]

28 Feb 2017 1 min read

British Land mulling sale of The Leadenhall Building

British Land confirms that it and its joint venture partner, Oxford Properties, are in advanced discussions regarding the possible sale of their interests in The Leadenhall Building. British Land and Oxford Properties currently own The Leadenhall Building in a 50/50 joint venture. It is not certain that these discussions will lead to a sale of […]

31 Jan 2017 1 min read

British Land announces that 7 Clarges Street, Mayfair, is over 80% let

British Land has announced that, four months after launch, its office space at 7 Clarges Street, a 51,000 square foot prime commercial development in Mayfair, is now 83% let, having secured terms with Capula Investment Management, Quantum Pacific and Fortress Investment Group. Capula Investment Management will occupy 23,700 square foot across three floors whilst US-based […]

08 Jul 2016 1 min read

British Land sells Debenhams Oxford Street

British Land announces that it has exchanged contracts for the sale of 334-348 Oxford Street, London to a private investor for GBP400 million. The asset is a seven storey building located near Bond Street Underground Station in London’s core West End shopping district. The building is let in its entirety to Debenhams until 2039. In […]

31 May 2016 2 min read

Alasdair McKinnon has good start at Scottish Investment Trust

Scottish Investment Trust has announced results for the six months ended 30 April 2016. Over that period the net asset value per share total return was 4.0% (with borrowings at market value). The share price total return was 4.4%. The company does not have a formal benchmark but, by way of reference, over the review period the […]

16 May 2016 2 min read

British Land reports underlying profit growth of 16%

British Land have announced their annual results for the year ended 31 March 2016. During the year, the company says that underlying profit increased by 16.0% to £363m, whilst the company’s EPRA NAV increased by 10.9% to 919p per share (or 932p pre the budget stamp duty increase). The company generated an IFRS profit before […]

06 May 2016 2 min read

JPMorgan Elect results show small falls in NAVs

JPMorgan Elect has published its interim results. For the half year ended 29th February 2016, the total return on the company’s net assets was -1.3% for the Managed Growth portfolio and -1.1% for the Managed Income portfolio. The total return on the Managed Cash portfolio was +0.3%. The Managed Growth portfolio has delivered a total […]

17 Nov 2015 1 min read

British Land outperformance of IPD driven by Offices and Developments

British Land’s first half results, covering the six months ended 30 September 2015, show the company’s EPRA NAV climbing by 7.5% and its diluted underlying earnings per share rising by 4.6% to 16p . The first half dividend was increased by 2.5% to 14.18p. The valuation of the portfolio increased by 4.7%. That broke down into […]

02 Nov 2015 1 min read

British Land lets 1st Floor of Marble Arch House to Cirrus Logic

British Land has announced that it has let the first floor of Marble Arch House (pictured) to Cirrus Logic, a provider of analogue and digital signal processing equipment. This follows deals announced earlier this year to let the fourth and second floors to BXR Partners LLP (private investment) and GTECH (global gaming technology). Existing tenants include […]

29 Jul 2015 1 min read

British Land sells 39 Victoria Street

British Land has announced that it has exchanged contracts for the sale of 39 Victoria Street, SW1 to Singaporean property company Ho Bee Land for a gross purchase price of £144m (net price of c. £139m after deduction of rent free top up). Ho Bee Land is quoted on the mainboard of the Singapore Exchange […]

01 Jun 2015 1 min read

Scottish Investment Trust reports good start to 2015

Scottish Investment Trust has published interim results for the six months ended 30 April 2015. Over the period the fund produced a return on net assets of 9.8% which compares to returns on the FTSE All-World Index and FTSE All-Share Index of 9.6% and 9.2% respectively. The manager’s report goes into the portfolio in some […]

14 May 2015 1 min read

British Land results reflect strong development profits

British Land’s results for the year ended 31 March 2015 have been published. The EPRA NAV rose by 20.5% to 829p. They have declared a quarterly dividend of 6.92p; bringing the full year to 27.68p (2014: 27.0p) and the first quarter dividend for the new financial year will be 7.09p, an increase of 2.5%. The NAV increase […]

14 Apr 2015 1 min read

British Land buys 1 Sheldon Square

British Land is paying £210m to buy 1 Sheldon Square, extending its investments in the offices springing up around Paddington Station. They say the deal brings their total investment at Paddington Central to 800,000 sq ft with a further 146,000 sq ft currently under construction at 4 Kingdom Street and 210,000 sq ft of consented […]

18 Mar 2015 1 min read

British Land’s Meadowhall Shopping Centre to get £50m refurbishment

British land has announced a £50m refurbishment of its Meadhowhall Shopping Centre (pictured), to mark its 25th anniversary. The refurbishment, which focuses on the centre’s interior, starts in Autumn 2015 and will be completed by the end of 2017, and will create distinct ‘districts’ within the centre. The works will largely be completed out of hours to enable all […]

02 Mar 2015 1 min read

British Land buys Surrey Quays Leisure Park

British Land has announced that it is paying £135m for Surrey Quays Leisure Park – the seller is Aviva Investors. When combined with Surrey Quays Shopping Centre and Harmsworth Quays, the former Daily Mail General Trust printing works, British Land has now assembled a 50 acre site close to Canada Water and Surrey Quays stations that it […]

13 Feb 2015 1 min read

British Land starts work on 4 Kingdom Street

British Land announced this morning that it has started work on its development at 4 Kingdom Street in Paddington. The recently re-designed nine storey building will have typical floorplates of 15,000 sq ft, with each floor having a large corner terrace and a glass pod designed as a creative meeting space. The core of the […]

08 Jan 2015 1 min read

British Land sells £250m of property

British Land has announced the sales of a retail and office portfolio in an off-market deal to Legal & General Property for £219.6m, ahead of September book value. The portfolio comprises: – Kingswood Retail Park, Hull (sold for £58.0m, at a 5.7% net initial yield) – House of Fraser, Birmingham (sold for £71.4m, at a […]

08 Dec 2014 2 min read

Scottish Investment Trust let down by US underweight and Oil exposure

Over the year to the end of October 2014 Scottish Investment Trust generated a return of 1% on net assets – in-line with the return on the FTSE All-Share Index over that period but well behind the 8.8% return posted by the FTSE All World Index (a large proportion of SCIN’s assets are invested overseas). […]

18 Nov 2014 1 min read

Above market growth in asset value for British Land

BLND : Above market growth in asset value for British Land British Land’s interim report for the six months ended 30 September 2014 shows 11.8% growth in its net asset value to 769p with property values up 7.2% and total returns on property of 9.8% for the period. Underlying profits were 6.2% ahead at £155m, with […]

26 Aug 2014 1 min read

British Land add Next and Marks & Spencer Simply Food as tenants at Wheatley Retail Park

BLND : British Land add Next and Marks & Spencer Simply Food as tenants at Wheatley Retail Park (pictured) British Land has announced that it has agreed terms with Next, and Marks & Spencer Simply Food, for two new units at the Wheatley Retail Park in Doncaster. Next, already a tenant at Wheatley, is taking a larger unit (23,518 […]

20 Aug 2014 1 min read

British Land sells 52 Poland Street, Soho, for £26m

BLND : British Land sells 52 Poland Street, Soho, for £26m British Land has announced the sale of 52 Poland Street, Soho, London for £26m. 52 Poland Street is a 20,500 square foot multi-let building over basement, ground and seven upper office floors. The total passing rent of £693k per annum equates to £33.84 per square foot, […]

14 Jul 2014 1 min read

British Land : BLND – Second letting at Marble Arch House

British Land has agreed to let the 4,500 square foot sixth floor of its Marble Arch House property (located on Seymour Street in the Portman Village) to Access Industries on a ten-year lease. Access will join Fulcrum Asset Management, who signed a ten year lease for the building’s 9,000 square foot fifth floor earlier this summer. […]

03 Jun 2014 1 min read

British Land : BLND – disposal

British Land and the Crown Estate are selling Leamington Spa shopping park (held through a 50:50 joint venture) for £72m. The price is equivalent to an initial yield of 4.4%. The buyer is Ignis UK property Fund. Under British Land’s management the park has been refurbished and the tenant mix upgraded.

14 May 2014 1 min read

British Land : BLND – annual results

British Land has released its results for the year ended 31 March 2014 The EPRA NAV rose by 15.4% to 688p. The company’s property portfolio outperformed its relevant IPD index – delivering a return of 14.2% vs. 13.6% for the index. Occupancy rose in both their retail and office portfolios (retail 97.6% to 98.6% and office 96.2% […]

29 Apr 2014 1 min read

British Land : BLND – disposals

British Land has sold two retail parks – The 250,000 sq ft St James Retail Park in Dumbarton (sold to Legal & General for £45.75m) and the 136,000 sq ft Cwmbran Retail Park (sold to UBS for £32.3m). The net initial yields on these transactions were 5.9% and 6.4% respectively. British Land said they are […]

05 Feb 2014 1 min read

British Land : BLND – ups stake in Hercules unit trust

British Land is buying £41m worth and tendering for an additional £35m worth of additional units in the Hercules unit trust at a price equivalent to a 3.8% discount to NAV. Hercules unit trust owns £1.5bn of retail property spread across 17 retail parks including the Glasgow Fort Shopping Park (pictured). British Land is the […]

28 Jan 2014 1 min read

British Land : BLND – Q3 statement

Like for like occupancy up 30bps to 97.1% 525,000 sq ft of lettings or renewals in Q3 with rent 5.3% ahead of ERV – split 386,000 sq ft retail and 139,000 sq ft offices. £405m of disposals including Eastgate in Basildon and a further £200m in the pipeline. £196m of acquisitions including £83m of Sainsbury’s […]

22 Jan 2014 1 min read

British Land : BLND – sale of Eastgate centre

BLND has announced that it has sold the Eastgate centre in Basildon, a 700,000 sq ft shopping centre, for £88.6m.

30 Dec 2013 1 min read

British Land : BLND – signs jv agreement for Broadgate

BLND has formed a jv with GIC, Singapore’s sovereign wealth fund. Each party owns 50% of Broadgate and they have plans to refresh and expand the estate to benefit, inter alia, from the development of Crossrail.

Overview

Fundamentals

Price

Research History

QuotedData’s Real Estate Monthly Roundup – June 2024

QuotedData’s Real Estate Monthly Roundup – April 2024

QuotedData’s Real Estate Monthly Roundup – January 2024

QuotedData’s Real Estate Monthly Roundup – December 2023

QuotedData’s Real Estate Quarterly Review – Third Quarter 2023

QuotedData’s Real Estate Monthly Roundup – August 2023

QuotedData’s Real Estate Quarterly Review – Second Quarter 2023

QuotedData’s Real Estate Monthly Roundup – July 2023

QuotedData’s Real Estate Monthly Roundup – June 2023

QuotedData’s Real Estate Quarterly Review – First Quarter 2023

QuotedData’s Real Estate Monthly Roundup – April 2023

QuotedData’s Real Estate Monthly Roundup – February 2023

QuotedData’s Real Estate Annual Review – 2022

QuotedData’s Economic and Political Monthly Roundup December 2022

QuotedData’s Real Estate Roundup – December 2022

QuotedData’s Real Estate Quarterly Review – Third Quarter 2022

QuotedData’s Real Estate Roundup – August 2022

QuotedData’s Real Estate Quarterly Review – Second Quarter 2022

QuotedData’s Real Estate Roundup – July 2022

QuotedData’s Real Estate Roundup – June 2022

QuotedData’s Real Estate Roundup – May 2022

QuotedData’s Real Estate Quarterly Review – First Quarter 2022

QuotedData’s Real Estate Roundup – April 2022

QuotedData’s Real Estate Roundup – March 2022

QuotedData’s Real Estate Annual Review – 2021

QuotedData’s Real Estate Roundup – December 2021

QuotedData’s Real Estate Quarterly Review – Third Quarter 2021

QuotedData’s Real Estate Roundup – August 2021

QuotedData’s Real Estate Quarterly Review – second quarter 2021

QuotedData’s Real Estate Roundup – June 2021

QuotedData’s Real Estate Roundup – May 2021

QuotedData’s Real Estate Quarterly Review – first quarter 2021

QuotedData’s Real Estate Roundup – March 2021

QuotedData’s Real Estate Roundup – February 2021

QuotedData’s Real Estate Annual Review – 2020

QuotedData’s Real Estate Roundup – January 2021

QuotedData’s Real Estate Roundup – December 2020

QuotedData’s Real Estate Quarterly Review – Q3 2020

QuotedData’s Real Estate Roundup – October 2020

QuotedData’s Real Estate Quarterly Review – Q2 2020

QuotedData’s Real Estate Roundup – May 2020

QuotedData’s Real Estate Quarterly Roundup – First Quarter 2020

QuotedData’s Real Estate Roundup – April 2020

QuotedData’s Real Estate Roundup – February 2020

QuotedData’s Real Estate Annual Review – 2019

QuotedData’s Real Estate Roundup – December 2019

Retail property market – ready for a renaissance?