British Land 3rd QTR Trading Statement
Posted: January 19th, 2017, 9:17 am
"Chris Grigg, Chief Executive said: "British Land has had a positive quarter reflecting the strong positioning of our portfolio and our engagement with occupiers and consumers. We have completed over 400,000 sq ft of lettings across the business and are progressing discussions with a broad range of occupiers. Retail footfall and sales growth continue to outperform industry benchmarks and we have made further disposals of non-core assets and residential units ahead of valuation. The business is well placed; we remain mindful of potential headwinds going forward."
Quality portfolio attracting strong occupier demand
• 314,000 sq ft of Retail lettings and renewals, 8.7% ahead of ERV; a further 189,000 sq ft under offer.
• Retailer sales for the quarter were up 0.6% year on year outperforming the benchmark by 200 bps; footfall for the quarter was -0.6% year on year outperforming the benchmark by 220 bps.
• 51,000 sq ft of Office lettings and renewals, in-line with ERV. 7 Clarges Street offices now over 80% let or under offer at an average rent of £113 psf, in line with pre-referendum ERVs.
• Leasing discussions with a wide range of occupiers are progressing across our London campuses; ten major discussions are under way totalling 1.4 million sq ft.
• Enabling works commenced on the 520,000 sq ft redevelopment of 100 Liverpool Street."
Full item here;
http://www.investegate.co.uk/british-la ... 00105474U/
disc - I hold.
Quality portfolio attracting strong occupier demand
• 314,000 sq ft of Retail lettings and renewals, 8.7% ahead of ERV; a further 189,000 sq ft under offer.
• Retailer sales for the quarter were up 0.6% year on year outperforming the benchmark by 200 bps; footfall for the quarter was -0.6% year on year outperforming the benchmark by 220 bps.
• 51,000 sq ft of Office lettings and renewals, in-line with ERV. 7 Clarges Street offices now over 80% let or under offer at an average rent of £113 psf, in line with pre-referendum ERVs.
• Leasing discussions with a wide range of occupiers are progressing across our London campuses; ten major discussions are under way totalling 1.4 million sq ft.
• Enabling works commenced on the 520,000 sq ft redevelopment of 100 Liverpool Street."
Full item here;
http://www.investegate.co.uk/british-la ... 00105474U/
disc - I hold.