British Land hails ‘notable improvement’ as restrictions ease July 13, 2021 British Land said that it had collected 99 per cent of the rent due for its offices in June as the FTSE 100 firm welcomed a “notable improvement in activity” across its markets. The property developer also said that in the seven weeks since the first lifting of restrictions, it had seen footfall and sales [...]
British Land set to buy retail parks in diversification push April 14, 2021 British Land today said it was exploring further opportunities to buy retails parks and investing more in urban logistics following a surge in online shopping. The London-listed real estate firm cited customer confidence in visiting open-air retails parks where social distancing can easily be managed. A shift in location would see British Land move away [...]
JLL commits to 134,000 sq ft HQ at British Land’s 1 Broadgate April 8, 2021 British Land has today announced that real estate giant JLL has chosen 1 Broadgate as its new HQ, describing the move as a ‘vote of confidence in London’. The real estate firm has agreed a lease for 134,000 sq ft for 15 years, representing nearly 30 per cent of the office space. JLL’s decision to [...]
British Land appoints new chief financial officer from Tesco January 19, 2021 London-based retail landlord British Land has made Bhavesh Mistry its new chief financial officer. Mistry is expected to join British Land no later than 1 August 2021. Until he joins David Walker will continue in his role as interim CFO. The incoming CFO is currently deputy chief financial officer at Tesco, a position has had [...]
British Land ‘bruised but not broken’ despite collecting less than half of rent from UK retailers January 11, 2021 British Land will emerge from the pandemic intact despite collecting less than half the rent it is owed for December, according to a City analyst.
Pandemic wipes £1bn off British Land’s portfolio as retailers take a hit November 18, 2020 The pandemic has wiped almost £1bn off commercial landlord British Land’s (BLND) portfolio after retailers were forced to close and offices lay empty. The FTSE 100 firm said the value of its portfolio of offices and shops had fallen from £11.2bn in March to £10.3bn by the end of September. The structural challenges in retail [...]
British Land chief to step down in November September 10, 2020 Property developer British Land has today announced that chief executive Chris Grigg will step down after 11 years at the helm. Simon Carter, who is currently the firm’s finance chief, will take over the top job, it added. Carter returned to British Land in 2018 after spells as the finance chief at European warehouse business [...]
British Land widens losses in challenging retail market November 13, 2019 British Land reported widening losses in the first half of the year, driven by a fall in value in its retail portfolio amid a string of store closures and rent reductions. The figures Underlying profit fell 10.1 per cent to £169m and the company’s loss after tax increased from £48m to £404m. Read more: British [...]
Tower Hamlets rejects British Land’s major Shoreditch Estate development in Norton Folgate July 22, 2015 Tower Hamlets has rejected planning permission for a major new development put forward by British Land. The council threw out proposals for the Norton Folgate scheme, otherwise known as the Shoreditch Estate, during last night's strategic development committee. Had it been successful, the development would have comprised 320,000 sq ft of office, residential [...]
British Land confirms dividend after strong performances across the Cheesegrater, Broadgate and Facebook’s new Euston Road premises July 20, 2015 The Cheesegrater, Broadgate and Facebook's new Euston Road premises have contributed to a solid first quarter performance at British Land. The figures The landlord reported strong occupational demand, with lettings well ahead of estimated rental value. In total during the three months the group agreed 129,000 sq ft of retail lettings or renewals, and [...]