What British Land said
We've had a good start to the year, making real progress against the priorities set out at our results in May in what are strong occupational and investment markets. In retail, our operational metrics remain strong and we continue to recycle capital by selling selected mature assets and investing into our existing portfolio. In offices, we're pleased with the deals we've done at The Leadenhall Building and in the supply constrained City market we're positive about our prospects on the remaining space.
We handed over 5 Broadgate to UBS in June, progressed our development pipeline and continued to invest in our campuses through public realm enhancements and refurbishments. We've taken advantage of favourable market conditions to raise £350 million of convertible bonds at a zero coupon, continuing our strong track record in accessing funding on competitive terms from a range of sources."
Investors were perhaps hoping for a stronger increase in the dividend: British Land's share price was trading down 0.3 per cent as markets opened.