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British Land Company PLC (BLND.L)

BLND.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

British Land sees some investors taking more cautious approach after EU vote
Monday, 18 Jul 2016 02:00am EDT 

British Land Company Plc : First quarter trading update . Had a good quarter of activity in lead up to referendum - CEO . Too early to properly assess impact of referendum result on markets in which we operate - CEO . Do expect some occupiers and investors to take a more cautious approach - CEO . Q1 dividend confirmed at 7.30 pence, 3.0 pct ahead of prior year . Strong portfolio: 99 pct occupancy and weighted average lease term of 9 years to first break .Based on current commitments, group has no requirement to refinance for four years.  Full Article

British Land sells Debenhams store on Oxford Street
Thursday, 7 Jul 2016 11:45am EDT 

British Land Company Plc : Has exchanged contracts for sale of 334-348 Oxford Street, London to a private investor for £400 million . Building is let in its entirety to Debenhams until 2039 . Has exchanged on £99 million of further retail disposals since 31 March 2016, including £79 million of superstores, 3.1% ahead of March valuations . Transactions bring total retail disposals since year end to £499 million . Since EU referendum, co has exchanged 11 long term retail leases totalling 50,000 sq ft and £2.1 million of rent on terms agreed prior to referendum .In aggregate these lettings are 4.7% ahead of March 2016 ervs; a further 210,000 sq ft of retail lettings are under offer.  Full Article

British Land says says FY EPRA NAV up 10.9 pct to 919 pence
Monday, 16 May 2016 02:00am EDT 

British Land Company Plc : Total accounting return of 14.2 pct (2014/15: 24.5 pct) . Underlying profit 16.0 pct to 363 mln stg; IFRS PBT of 1,331 mln stg (2014/15 1,789 mln stg) reflecting valuation uplift of 950 mln stg (2014/15 1,582 mln stg) . FY EPRA NAV +10.9 pct to 919 pence (932p pre budget stamp duty increase); IFRS net assets at 9.6 bln stg (2014/15 8.6 bln stg) . Final quarterly dividend of 7.09 pence (+2.5 pct); bringing full year to 28.36 pence (+2.5 pct) . Total portfolio valuation +6.7 pct . ERV growth of 5.3 pct outperforming IPD by 130 bps; 9.6 pct in offices and 2.4 pct in retail; multi-let retail ERV growth of 3.4 pct . Net investment of 280 mln stg into our London campuses .Committed speculative development of 530 mln stg; 2.0 million sq ft near term pipeline.  Full Article


Hong Kong's LKK to buy London's "Walkie Talkie" skyscraper

Herbal health products maker LKK Health Products Group Ltd, based in Hong Kong, said on Thursday it would buy the "Walkie Talkie" skyscraper in London from Land Securities Group plc and Canary Wharf Group plc for 1.28 billion pounds ($1.68 billion), the highest price for an office building so far in the UK. | Video