Edition:
United States

British Land Company PLC (BLND.L)

BLND.L on London Stock Exchange

618.50GBp
20 Nov 2017
Change (% chg)

-5.50 (-0.88%)
Prev Close
624.00
Open
623.50
Day's High
625.00
Day's Low
618.50
Volume
3,471,404
Avg. Vol
4,042,388
52-wk High
675.50
52-wk Low
574.60

Latest Key Developments (Source: Significant Developments)

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

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

UPDATE 1-British Land sees healthy demand for UK office space

Nov 16 Property developer British Land reported a 2.6 percent rise in net asset value in its first half, adding to signs of still healthy demand for UK office space even though companies in London remain cautious ahead of Brexit.