Acquisition/Letting - Hamilton House at Broadgate

British Land Co PLC
8 March 2000


NEW LETTING AT BROADGATE
British Land adds Hamilton House to its Broadgate holdings

British Land has completed a new letting of 20,000 sq ft at 155 Bishopsgate,
on the Broadgate Estate.  The lease runs to 2019 without a break.  The initial
rent is £51.50 per sq ft.  The terms agreed provide further confirmation of
the new higher rental values now being established at Broadgate.  

British Land has bought Hamilton House from Railtrack plc for £25.5 million. 
The property was developed with the earlier phases of Broadgate and provides
approximately 80,000 sq ft net of office and ancillary space currently let to
a number of occupiers.

Hamilton House is strategically located at one of the important gateways into
Broadgate.  The purchase of the property will enable British Land to enhance
its investment at Broadgate through the extensive refurbishment or
redevelopment of the property to full Broadgate standard, which is planned to
start next year.

With the completion of the acquisition of Hamilton House, British Land now
owns 14 of the 15 properties at Broadgate representing 95% of the total of 4
million sq ft net of office, retail and ancillary accommodation on the 30 acre
Broadgate estate.  A further phase of Broadgate is currently under development
in joint venture with Railtrack to provide over 700,000 sq ft net of office,
retail and ancillary space.


Contacts

John Ritblat, Chairman                    The British Land Company PLC
John Weston Smith, Finance Director       0171-486-4466