News: Rotherham lettings boost British Land profits
Property company British Land has announced profits before tax of £64m in the three months to the end of December, up from £58m in the same period last year.
The results were boosted by new lettings at Parkgate Shopping in Rotherham which helped their estimated rental values to rise by 0.4% in the quarter.
Their latest financial results highlighted the new leases signed for a 30,000 sq ft Currys/PC World store and a 20,000 sq ft Asda Living store at the Rotherham retail park.
Consumer electronics retailer, Best Buy is currently fitting out their 45,000 sq ft store on the park in preparation for opening in the Summer.
Chris Grigg, chief executive of British Land said: "This is a strong financial performance from British Land which reflects the good progress we have made right across the business during what has been a busy quarter. We continued to outperform the IPD benchmark and delivered good growth in income, valuation and NAV.
"Looking forward, while the UK recovery is likely to be muted, British Land is well
placed to benefit from occupier and investor demand for high quality space in retail and central London offices coupled with an increase in acquisition opportunities at more realistic prices."
British Land is one of the UK's largest Real Estate Investment Trusts with a portfolio valued at £9.3 billion, including the Meadowhall Shopping Centre in Sheffield.
British Land website
The results were boosted by new lettings at Parkgate Shopping in Rotherham which helped their estimated rental values to rise by 0.4% in the quarter.
Their latest financial results highlighted the new leases signed for a 30,000 sq ft Currys/PC World store and a 20,000 sq ft Asda Living store at the Rotherham retail park.
Consumer electronics retailer, Best Buy is currently fitting out their 45,000 sq ft store on the park in preparation for opening in the Summer.
Chris Grigg, chief executive of British Land said: "This is a strong financial performance from British Land which reflects the good progress we have made right across the business during what has been a busy quarter. We continued to outperform the IPD benchmark and delivered good growth in income, valuation and NAV.
"Looking forward, while the UK recovery is likely to be muted, British Land is well
placed to benefit from occupier and investor demand for high quality space in retail and central London offices coupled with an increase in acquisition opportunities at more realistic prices."
British Land is one of the UK's largest Real Estate Investment Trusts with a portfolio valued at £9.3 billion, including the Meadowhall Shopping Centre in Sheffield.
British Land website
0 comments:
Post a Comment