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British Land Company PLC (BLND.L)

BLND.L on London Stock Exchange

619.00GBp
12:10pm EDT
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-1.50 (-0.24%)
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620.50
Open
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Volume
5,051,503
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4,998,155
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773.35
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499.96

Latest Key Developments (Source: Significant Developments)

British Land and Oxford Properties complete sale of Leadenhall Building
Thursday, 25 May 2017 09:20am EDT 

May 25 (Reuters) - British Land Company Plc ::British land and Oxford Properties complete sale of leadenhall building to C C Land.Terms of transaction are as set out in press release issued on May 1, 2017 announcing exchange of contracts.  Full Article

British Land to seek tenants before starting most new developments -CEO
Wednesday, 17 May 2017 03:46am EDT 

May 17 (Reuters) - British Land Chief Executive Chris Grigg::Says incentives, rent free periods being offered in London office market have increased a little bit.Says general concern in London office market over where rents and vacancy levels will be in post-Brexit environment.Says all bank tenants, one way or the other, are doing contingency planning.Says expects firm's exposure to banks in London office market to fall to 6 percent in the next year or so.Says in talks with firms over totally about 1 million sq ft worth of lettings for London offices.Says expects co's speculative development to increase "a bit" this year, but will seek part or full prelet for most projects.  Full Article

British Land says FY underlying profit up 7.4 pct to 390 mln stg
Wednesday, 17 May 2017 02:00am EDT 

May 17 (Reuters) - British Land Company Plc ::FY underlying profit +7.4 pct to 390 mln stg (2015/16: 363 mln stg).FY EPRA NAV -0.4 pct to 915 pence; IFRS net assets at 9.5 bln stg(2015/16 9.6 bln stg).Final quarterly dividend of 7.3 pence (+3.0 pct); bringing full year to 29.2 pence (+3.0 pct).2017/18 full year dividend of 30.08 pence per share proposed, +3.0 pct; Q1 7.52 pence.FY portfolio valuation -1.4 pct.FY 1.7 million sq ft of lettings and renewals across portfolio, 8.0 pct ahead of ERV, adding 22 mln stg of rent.FY occupancy 98 pct, with average lease length of 8.3 years.Speculative development commitment below 4 pct; 1.7 bln pipeline across a range of uses.Based on current commitments, group has no requirement to refinance until early 2021.CEO says investment markets improved in second half as UK economy proved resilient.CEO says nearly one year after referendum, co sees clear signs that impact of technology transformation is accelerating.In offices post BREXIT, have seen occupiers continuing to commit, but often after longer and more thoughtful decision making processes.Co says for its office-led developments commitment is likely to be influenced by progress of pre-let discussions.Co says BREXIT process has begun but uncertainty will continue for some considerable time..Conversations with London occupiers, especially financial institutions, tells co that a large majority continue to value London.  Full Article

British Land gets go ahead for 400 mln stg Kingston development
Thursday, 30 Mar 2017 02:37am EDT 

British Land Company Plc : British Land and USS secure planning consent for proposed 400 mln stg Kingston development .Secured planning approval from Royal Borough of Kingston for 400 million stg regeneration of Eden Walk, Kingston.  Full Article

British Land says a senior independent director to step down at AGM
Thursday, 23 Mar 2017 09:16am EDT 

British Land Company Plc : Announcement regarding directorate changes .Lord Turnbull will not be seeking re-election at AGM and will step down as a director and senior independent director.  Full Article

C C Land Holdings acquires Leadenhall Building
Wednesday, 1 Mar 2017 07:01am EST 

C C Land Holdings Limited: Acquisition Of Leadenhall Building . Unit of company as buyer and company as buyer's guarantor, entered into agreement with sellers and oxford guarantor . Deal at an aggregate consideration of approximately GBP1.14 billion . Expected that leadenhall building will generate a stable and strong recurrent income for group . Buyer is Green Charm Investments, sellers are Union Property Holdings (London) Ltd and Oxford Properties European Gp Inc. .The ultimate holding company of Union Property Holdings (London) Ltd is The British Land Company PLC.  Full Article

British Land Co to sell Leadenhall Building to C C Land for £1.15 bln
Wednesday, 1 Mar 2017 06:08am EST 

British Land Company Plc : British Land and Oxford Properties exchange contracts for sale of Leadenhall building to C C Land . Deal for a headline price of £1.15 billion . Consideration will be received in cash and apportioned in equal shares to British Land and Oxford Properties . Disposal is slightly dilutive to British Land's earnings per share and slightly accretive to its net asset value per share . Proceeds received by co for its interest will initially be used to pay down revolving credit facilities, pending redeployment .British Land, Oxford Properties were advised by Cushman & Wakefield, Eastdil Secured, Mayer Brown and Herbert Smith Freehills.  Full Article

China's CC Land in talks to buy London's Cheesegrater for one billion pounds- FT, citing a source
Tuesday, 28 Feb 2017 05:28am EST 

: China's CC Land in talks to buy London's Cheesegrater for 1 billion pounds- FT, citing a source Source: http://on.ft.com/2lRiMdA Further company coverage: [1224.HK] ((Bangalore.newsroom@thomsonreuters.com ;)).  Full Article

British Land says in talks to sell interest in Leadenhall Building
Tuesday, 28 Feb 2017 02:55am EST 

British Land Company Plc : Discussions on sale of the Leadenhall Building .Confirms that it and its JV Partner in advanced discussions regarding possible sale of their interests in Leadenhall Building.  Full Article

British Land says 7 Clarges Street office over 80 pct let
Tuesday, 31 Jan 2017 02:00am EST 

British Land Company Plc : Lettings at 7 Clarges Street on over 80 pct of office space . Office space at 7 Clarges Street is 83 percent let, having secured terms with Capula Investment Management, Quantum Pacific, Fortress Investment Group .CBRE advised British Land on 7 Clarges Street.  Full Article

More From Around the Web

BRIEF-Banks secure financing for 1.15 bln stg 'Cheesegrater' building deal

* Bank Of China, HSBC and ING secure finance for C C Land's 1.15 billion stg acquisition of the Leadenhall Building from British Land and Oxford Properties Further company coverage: (Bengaluru Newsroom)