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 [...]
Cheesegrater bolts to cost Severfield £6m after Leadenhall building loses five June 17, 2015 Steelmaker Severfield said yesterday that the cost of replacing bolts in the Cheesegrater building, after five broke, is likely to hit £6m. There are around 3,000 bolts in the City skyscraper, formally known as the Leadenhall building, and most will be replaced, chief executive Ian Lawson told City A.M. “These bolts were a specialist [...]
British Land issues £350m convertible bond to fund One Sheldon Square Paddington and Surrey Quays acquisitions June 2, 2015 British Land, one of the UK's biggest developers, has launched a £350m convertible bond. The senior, unsecured convertible bonds, due in 2020, will be used to fund its acquisition of two central London properties and future spending. The developer splashed £210m on increasing its ownership of One Sheldon Square in Paddington in April, and bought [...]
More lettings at the Cheesegrater as new TSB owner Banco Sabadell takes two floors May 29, 2015 British Land and Oxford Properties, the developers behind the Cheesegrater (aka Leadenhall Building), confirmed three new lettings across seven floors of the building – including new TSB owner Banco Sabadell. Among the new signings are insurance giant Brit, which has signed a 15 year lease to occupy 66,300 sq ft across five storeys – 16 [...]
British Land profits lifted by lucrative London property market May 14, 2015 The figures: British Land said that underlying profit before tax rose 5.4 per cent to £313m for this financial year, up from £297m a year earlier. Diluted underlying earnings per share rose 4.1 per cent to 30.6p, an increase from 29.4p in 2014. The developer's total portfolio valuation rose by 12.1 per cent to £13.63bn. This was [...]
British Land splashes £210m on Paddington Central site ahead of Crossrail arrival April 14, 2015 British Land has snapped up a site in Paddington where Crossrail is set to push up property and rental prices in a £210m deal. The property giant, which already owns part of the massive Paddington Central scheme, has bought One Sheldon Square, a 200,000 sq ft, nine-storey office building, currently home to Visa Europe, from a [...]
British Land buys up Surrey Quays plots in Canada Water for £135m March 2, 2015 Developer British Land said yesterday it has bought the last of the sites for its £2bn regeneration project in Canada Water – paying £135m for Surrey Quays Leisure Park from Aviva Investors. The FTSE 100 developer has quietly amassed over 50 acres of land in Canada Water over the last five years and is spending [...]
Dividends on the rise at British Land as occupancy rates grow January 27, 2015 British Land has said it will raise its dividend by 2.5 per cent to 6.9p per share on the back of strong trading figures for the quarter ending 31 December 2014. Total occupancy for its retail and office divisions at the end of the quarter was 97.8 per cent an increase of 0.7 percentage points [...]
British Land reassures the City as Cheesegrater loses third bolt January 14, 2015 A THIRD bolt has fallen off the Cheesegrater, or Leadenhall Building as it is officially known, British Land confirmed yesterday. Two large steel bolts fractured and fell off the City’s tallest skyscraper in November, while the third incident occurred recently, with the fractured bolt captured by precautionary tethering put in place after the initial breakages. [...]
Cheesegrater skyscraper steel bolts broken and area is cordoned off to the public, says British Land November 5, 2014 British Land has revealed that two steel bolts each a metre in length have come unstuck at London's Cheesegrater skyscraper, and the building has been cordoned off to pedestrians. One part of one of the bolts fell to the ground at the side of the building but thankfully the area where it hit was already [...]