British Land Retail Event

RNS Number : 3607O

British Land Co PLC

19 September 2013

 



19 September 2013

British Land Retail Event

British Land announces that is today holding a Retail Event for analysts and investors at Whiteley Shopping. The event will include presentations by the Retail team and a tour of our newly opened shopping destination at Whiteley.

The presentations, by senior members of our Retail team, will focus on the recent changes to the retail market and how we are responding to ensure, as the UK's largest listed retail landlord, we remain at the forefront of the retail market. We will showcase our most recent retail development, Whiteley Shopping, which opened in May and which draws on our best practice, thinking and experience from across our portfolio both in shopping centres and retail parks.

The presentations and speeches will be available to download from the Company's website: www.britishland.com at 2pm today. Audio recordings of the event will be available from Friday 20 September.

Enquiries:

Investor Relations

Sally Jones, British Land                                                            020 7467 2942

Media

Pip Wood, British Land                                                               020 7467 2838

Guy Lamming/ Gordon Simpson, Finsbury                                   020 7251 3801

Notes to Editors

About British Land

British Land is one of Europe's largest Real Estate Investment Trusts (REITs) with total assets, owned or managed, of £16.9 billion (British Land share £11.0 billion), as valued at 31 March 2013 but adjusted for recent acquisitions and disposals, notably a major interest in Paddington Central.

Through our property and finance expertise we attract experienced partners to create properties and environments which are home to over 1,000 different organisations and receive over 300 million visits each year. Our property portfolio is focused on prime retail locations and London offices which attract high quality occupiers committed to long leases. Following our purchase of Paddington Central, our occupancy rate is 96.2% and average lease length to first break is 10.6 years.

Retail assets account for 58% of our portfolio, around 80% of which are located at prime out of town sites. Comprising around 28 million sq ft of retail space across 79 retail parks, 89 superstores, 17 shopping centres and 13 department stores, the retail portfolio is modern, flexible and adaptable to a wide range of formats. Our active asset management delivers space which is attractive and meets the needs of both retailers and consumers.

London offices, located in the City and West End, comprise 38% of the portfolio (which will rise to an estimated 40% on completion of current developments). Our 7 million sq ft of high quality office space includes Broadgate, the premier City office campus (50% share) and Regent's Place and Paddington Central in the West End. Since 2010, we have committed £1.2 billion to deliver 2.3 million sq ft of high quality space in London by 2014, including a 700,000 sq ft building at 5 Broadgate, the 610,000 sq ft Leadenhall Building in London's insurance district and a 500,000 sq ft mixed office and residential scheme at Regent's Place in the West End.

Our size and substance demands a responsible approach to business and we focus on five areas which matter most to us and our key stakeholders: managing buildings efficiently; developing sustainable buildings; enhancing biodiversity; exceeding customers' expectations and focusing on local communities. We believe leadership on issues such as sustainability helps drive our performance and is core to our corporate vision of building the best REIT in Europe.

Further details can be found on the British Land website at www.britishland.com.

 

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