British Land Purchase

British Land Co PLC
15 January 2001


BRITISH LAND PURCHASES THEALE BUSINESS CAMPUS FROM
CENTRAL CORPORATION IN MULTI MILLION POUND DEAL


The British Land Company PLC has purchased 3.23 hectares (8 acres) of prime B1
land at Clearwater Business Park, Theale from Central Corporation Limited, a
joint venture company between Lamron Estates and Pinstone Securities for a
price of £15.25 million.

The site has planning consent for a 13,610 sq.m (146,500 sq.ft) office park. 
British Land has entered into a joint venture with Countryside Properties Plc
to develop the site and will commence construction late this year.  Central
Corporation has retained approximately 2.43 hectares (6 acres) of land on the
north side of the lake.

Malcolm McPhail, Managing Director of Lamron Estates comments:-

'Although we did not actively market this development opportunity, we received
a large number of unsolicited bids, which reflects the growing confidence in
the Thames Valley commercial market.' 

Bob Bowden, Property Investment Director of British Land comments:-

'We believe that Theale has a strong future as a commercial business park
location - especially as all available development land at junctions 10 and 11
on the M4 is now spoken for with recent lettings to Worldcom, Cisco and
Vitaris.  Clearwater is only one of a handful of remaining sites in the Thames
Valley capable of accommodating a business park of this size and with its
prominent location fronting onto the A4 and its close proximity to junction 12
of the M4 this will undoubtedly enhance its attractability to potential 'TMT'
occupiers.'

Central Corporation were advised by Lambert Smith Hampton and Weatherall Green
& Smith.  Colliers CRE acted for British Land and Countryside were represented
by Holley Blake.



Contacts

Lamron Estates:                    Malcolm McPhail, Managing Director
                                   Tel:  [phone]
Countryside Properties:            Rick De Blaby, Managing Director
                                   Tel:  [phone]
The British Land Company PLC:      John Weston Smith, Finance Director
                                   Tel: [phone]