British Land snaps up Square Mile car park for £20m in last-mile delivery push August 26, 2021 British Land has reported £350m of capital activity including the acquisition of Finsbury Square Car Park. The property company said its acquisition of Finsbury Square Car Park for £20m was an opportunity to create a last mile logistics hub in the City. The commercial landlord exchanged on the acquisition of the Priestley Centre in Guildford [...]
Broadgate developer British Land posts annual loss as pandemic wipes £2bn off portfolio May 26, 2021 British Land posted its third consecutive annual loss as empty shops and offices squeezed the valuation of its portfolio. The commercial landlord said the value of its portfolio fell 10.8 per cent from £11.1bn to £9.1bn in the year ended 31 March. It reported a pre-tax loss of £1.08bn compared with a loss of £1.11bn [...]
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 shares rise as it restarts dividend payments October 9, 2020 Shares in property development company British Land climbed 3.9 per cent after it announced it would resume paying its dividend, saying footfall at its retail parks was ahead of the wider market. The shopping centre and office-owner intends to pay dividends twice a year, in February and August. It previously paid them quarterly but suspended [...]
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 [...]
Property developer British Land agrees £401m sale of West End offices December 23, 2020 British Land has agreed the £401m sale of a 75 per cent stake in three buildings in the West End to Allianz Real Estate. The portfolio includes three buildings; 10 Portman Square, Marble Arch House and York House, all of which are in Marylebone. As a result of the sale British Land will form a [...]
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 [...]
US hedgie Citadel makes big bet on London with space in another new skyscraper April 18, 2024 Three-quarters of a million square feet of workspace will be available for returning City workers with the deal, as a pre-let agreement has secured at least a third of the space already.