Key Developments: British Land Company PLC (BLND.L)
21 Nov 2014
Latest Key Developments (Source: Significant Developments)
Dow Jones reported that British Land Company PLC said that it has sold Ropemaker Place, London EC2 to Frasia Properties S.a r.l. and Frasia Properties Subsidiary S.a r.l., for a gross sale price of GBP472 million. British Land will receive net proceeds of GBP461 million in cash from the sale after costs, 1.4% above the September 2012 book value. The proceeds of the sale will be redeployed into existing London development program. Full Article
Dow Jones reported that British Land Company PLC said it plans to raise GBP500 million via a placing of up to 89.67 million new ordinary shares, with both existing and new institutional investors through a bookbuild process. Proceeds of the placing will be used to fund investment opportunities, with a focus on the Company's core sectors in London and the South East, primarily office, retail and mixed-use schemes. Morgan Stanley Securities Ltd. and Morgan Stanley & Co. International PLC and UBS Ltd. are acting as Joint Bookrunners and Corporate Brokers and Goldman Sachs International is acting as Joint Bookrunner in connection with the Placing. Full Article
British Land Company PLC announced that it has acquired a portfolio of properties in London from Wereldhave for GBP 183.8 million. The portfolio comprises Ealing Broadway Shopping Centre which has been purchased for GBP 142.5 million by way of share acquisition, representing a net initial yield of 6.9%. The portfolio also includes five retail and office properties in Baker Street, Chiswick High Road, Putney High Street Fulham Road and Great Portland Street which were purchased for GBP 41.3 million, a net initial yield of 5.0% rising to 6.1% when fully let. Full Article
British Land Company PLC announced that the second Interim Dividend for 2012/13 of 6.6p, as announced on November 20, 2012, will be a Property Income Distribution (PID), and is payable on February 15, 2013, to shareholders on the record date on january 11, 2013. Full Article
EDINBURGH, Nov 18 - Britain's blue-chip index edged higher on Tuesday, adding to weeks of gains after bullish updates from British Land and insurer Prudential .