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British Land Company PLC (BLND.L)

BLND.L on London Stock Exchange

642.20GBp
4:13am EDT
Change (% chg)

3.00 (+0.47%)
Prev Close
639.20
Open
639.40
Day's High
643.00
Day's Low
639.00
Volume
119,516
Avg. Vol
2,981,292
52-wk High
703.00
52-wk Low
589.00

Latest Key Developments (Source: Significant Developments)

British Land Company Signs 735 Mln Pounds Unsecured Revolving Credit Facility
Thursday, 10 May 2018 11:42am EDT 

May 10 (Reuters) - British Land Company PLC ::SIGNING OF A £735 MILLION UNSECURED REVOLVING CREDIT FACILITY (RCF) AT INITIAL MARGIN OF 90 BPS WITH SYNDICATE OF 12 BANKS.FACILITY HAS MATURITY OF FIVE YEARS WHICH MAY BE EXTENDED BY A FURTHER TWO YEARS ON BRITISH LAND'S REQUEST.THIS FACILITY IS AN AMENDMENT AND EXTENSION OF £785 MILLION RCF SIGNED IN APRIL 2014 AT AN INITIAL MARGIN OF 115 BPS.  Full Article

British Land buys Woolwich Estate for 103 mln stg​
Friday, 9 Feb 2018 02:00am EST 

Feb 9 (Reuters) - British Land Company Plc ::‍ACQUIRES WOOLWICH ESTATE IN SOUTH EAST LONDON FOR £103 MILLION​.‍HAS ACQUIRED WOOLWICH ESTATE, COVERING 4.9 ACRES IN SOUTH EAST LONDON FOR A HEADLINE PRICE £103 MILLION REPRESENTING A NET INITIAL YIELD OF 4.1%.​.  Full Article

British Land Announces ‍Third Interim Dividend For Qtr Ended Dec 31 of 7.52 Pence Per Share
Tuesday, 30 Jan 2018 02:00am EST 

Jan 30 (Reuters) - British Land Company Plc ::THIRD INTERIM DIVIDEND FOR QUARTER ENDED DEC 31 WILL BE 7.52 PENCE PER SHARE, A 3.0% INCREASE ON COMPARABLE PERIOD LAST YEAR​.  Full Article

British Land first-half NAV up 2.6 pct to 939p
Thursday, 16 Nov 2017 02:10am EST 

Nov 16 (Reuters) - British Land Company Plc -:‍HY NAV UP 2.6% TO 939P, WITH VALUATIONS UP 1.4%​.‍HALF YEAR DIVIDEND INCREASE OF 3% TO 15.04P​.‍HY PROFIT MAINTAINED AT £198M DESPITE £1.5BN OF SALES SINCE MARCH 2016​.  Full Article

British Land says ‍CFO Lucinda Bell to leave company in 2018
Wednesday, 4 Oct 2017 07:45am EDT 

Oct 4 (Reuters) - British Land Company Plc :‍LUCINDA BELL, CHIEF FINANCIAL OFFICER, TO STAND DOWN FROM BOARD AND LEAVE COMPANY ON 4 APRIL 2018​.  Full Article

British Land Co announces 300 mln pounds unsecured sterling bond issue
Friday, 8 Sep 2017 02:00am EDT 

Sept 8 (Reuters) - BRITISH LAND COMPANY PLC :ANNOUNCES £300 MILLION UNSECURED STERLING BOND.SAYS ITS DEBUT STERLING BOND ISSUE FOR £300 MILLION AT A COUPON OF 2.375% FOR 12 YEAR.BARCLAYS BANK, LLOYDS AND NATWEST ACTED AS JOINT ACTIVE LEAD MANAGERS.HSBC, BANK OF TOKYO MITSUBISHI AND SANTANDER WERE JOINT PASSIVE LEAD MANAGERS.  Full Article

British Land Company ‍announces 300 mln pounds share buy-back programme​
Tuesday, 18 Jul 2017 02:00am EDT 

July 18 (Reuters) - British Land Company Plc ::‍Announcement of 300 mln share buy-back programme​.Since year end, company has continued to sell into a strong investment​.In total, 370,000 sq ft of lettings and renewals were made during q1 at 7.8 pct ahead of ERV​.At Q1 end, further 870,000 sq ft of space is under offer or in advanced negotiations across british land's three london campuses​.Says ‍first interim dividend payment for quarter ended 30 June 2017 will be 7.52 pence per share​.Opportunities to purchase at attractive returns are more Limited, investment in co's shares offers better value.  Full Article

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

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Hong Kong's Victor Li pays $1.3 billion for London office tower

HONG KONG Hong Kong tycoon Victor Li has bought a London office tower for 1 billion pounds ($1.3 billion) as he expands his overseas portfolio after taking over the business empire of his billionaire father Li Ka-shing.