Tag Archives: British Land

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British Land: Eataly to open its first UK location at Broadgate’s 135 Bishopsgate in 2020

British Land: Eataly to open its first UK location at Broadgate’s 135 Bishopsgate in 2020

 

LONDON, 2018-Mar-06 — /EPR Retail News/ — British Land and Eataly, the Italian marketplace, announce that Eataly is to open its first UK location at Broadgate’s 135 Bishopsgate in 2020. Eataly has signed an agreement for lease for 42,000 sq ft on the ground and first floors of the building.

Eataly’s original idea is very simple: to gather all the high-quality Italian foods under one roof, where you can eat, shop and learn. With a selection of the best Italian products, restaurants, bars, quick services, exciting on-site production laboratories, and a cooking school, Eataly will add to the already popular restaurant and bar offering at Broadgate, bringing many opportunities to learn about Italian food and culture though courses, guided tastings, demonstrations and special events.

The letting marks yet another positive step in Broadgate’s evolution into a mixed-use neighbourhood for London, and sets the tone for the world class retail destination that British Land is delivering at the campus.

135 Bishopsgate’s refurbishment is part of British Land’s wider focus on enhancing the environment for Broadgate’s workers and visitors and attracting businesses from a range of sectors to the campus. The upgraded building will deliver high quality office space for occupiers, who will benefit from a roof terrace with views over London, as well as an in-house catering offer and a café, both provided by Eataly. British Land is making significant improvements to the public realm on Bishopsgate, one of London’s busiest streets.

Eataly’s marketplace will be accessible from both Bishopsgate and Broadgate’s Exchange Square which is due to be transformed into a new park for the campus. These additional entrances will significantly improve the campus’ permeability and its connections with the lively surrounding areas of Spitalfields and Shoreditch.

Claire Barber, Head of Central London Retail and Meadowhall, British Land said: “Eataly’s decision to take space at Broadgate is a fantastic endorsement of British Land’s strategy to create a vibrant, world class neighbourhood at the campus.

“Along with arrival of the Elizabeth Line at 100 Liverpool Street this year, and the high quality retail space due to open at 100 Liverpool Street in 2019, Eataly will really put Broadgate on the map as an exciting destination for Londoners to enjoy seven days a week.”

Luca Baffigo, CEO, Eataly said: “Visiting Borough Market before opening our first Eataly in Italy was a source of great inspiration for our concept. This is why opening a place in London where people can buy, eat and learn is a very important and exciting milestone for us. Being able to bring our model into a place that is so significant for us fills us with satisfaction and stimulates us to create in London a wonderful multifunctional experience.”

This letting is the most recent in a series of commitments from a range of occupiers at Broadgate, including cyber security and data management company Mimecast, which is taking 79,000 sq ft at 1FA (currently undergoing a major refurbishment), and Japanese bank SMBCE which is taking 161,000 sq ft at 100 Liverpool Street.

For further details on Broadgate, visit www.broadgate.co.uk.

About British Land

Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £18.1 billion (British Land share: £13.5 billion) as at 30 September 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 49% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being awarded a five star rating in the 2017 Global Real Estate Sustainability Benchmark for the second year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

About Eataly

Eataly, which in the last year generates sales of roughly EUR 400 million, has 40 shops in 12 countries, offering to more than 30 million of visitors the best cottage-industry products at sustainable prices, limiting the distribution chain to the utmost and creating direct contact between the producer and the final distributor, skipping the intermediate stages in the chain. The main goal is to increase the percentage of those who eat with awareness, choosing high-quality Italian products and paying special attention to the source and processing of raw materials.

The philosophy adopted by Eataly is twofold: on the one hand, it offers products, both for sale and used as ingredients in catering; on the other hand, it offers education, including cooking classes, tastings, encounters with great chefs, important wine or beer producers or craftsmen, free education for children and senior citizens. The latter aspect summarises the true originality of Eataly and represents the starting-point in leading consumers to perceive quality, which can encourage the sense of taste and enjoyment that makes a human being more satisfied and happier. More on www.eataly.com

Enquiries:
Investor Relations:
David Walker
British Land
020 7467 3418

Media:
Claire Turvey
FTI Consulting
020 3727 1000

Source: British Land

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British Land appoints Simon Carter Chief Financial Officer

LONDON, 2018-Jan-22 — /EPR Retail News/ — The British Land Company Plc announces that Simon Carter has been appointed as Chief Financial Officer. Simon is currently Chief Financial Officer at Logicor and prior to that was Finance Director at Quintain Estates & Development Plc. In both roles he contributed to the businesses during periods of considerable change and complexity. Prior to this Simon spent just over ten years at British Land in a variety of financial and strategic roles and was a member of the executive committee from 2012.

Simon succeeds Lucinda Bell who, as previously announced, intended to step down from the Board and leave the company on 4 April 2018. Having now successfully completed the search for a replacement CFO, we have agreed that Lucinda will now step down from her role as a main Board Director as well as her day-to-day responsibilities as CFO with immediate effect. A team has already been established to manage the transition to a new CFO. This is made up of the three Executive Directors and senior members of Group Finance including the Financial Controller and Head of Investor Relations. This transition team will assume responsibility for the year end process and ongoing Group finance functions, until Simon takes up his role. His start date will be announced in due course.

Chris Grigg, Chief Executive, said: “We are delighted to welcome Simon back to British Land. In his roles at Quintain and Logicor he has gained a very broad perspective and significant leadership experience and expertise.  During his previous time with the company, he was an incredibly capable and experienced member of our senior team, contributing to the company’s development through a number of roles including treasury, corporate finance, and strategy.”

There are no other disclosures to make pursuant to LR 9.6.13.

Enquiries:
Investor Relations
David Walker, British Land 020 7467 3418
Media
Pip Wood, British Land 020 7467 2838

SOURCE: British Land

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British Land celebrates the completion of the £60 million refurbishment of Meadowhall

British Land celebrates the completion of the £60 million refurbishment of Meadowhall

 

London, 2017-Dec-07 — /EPR Retail News/ — British Land, joint owner of Meadowhall, one of the UK’s premier shopping destinations, is today (06 DEC 2017) celebrating the completion of the £60 million refurbishment of the centre. This marks the end of a two-year programme, during which £40 million was invested in store upgrades by more than 70 brands including existing and new additions to Meadowhall’s line-up.

This combined investment of £100 million has already made a positive impact on performance, with footfall on Black Friday up 8%, making it the busiest on record. The prime Zone A rental tone has risen to over £400, reflecting very strong demand for space with 30 new retailers signing in the last 18 months.

Charles Maudsley, Head of Retail, Leisure and Residential for British Land, said: “The transformation we have achieved at Meadowhall is a great example of how we have listened to our customers and responded to their needs to create space that works for shoppers and enables retailers to thrive in an omni-channel world. It also demonstrates the value we place in working in partnership with the community to deliver significant, long-lasting benefits to the Sheffield City Region.”

Claire Barber, Head of Meadowhall for British Land, added: “Meadowhall is a very different place as a result of our investment. It is lighter and brighter; the space is more modern and the offer is significantly enhanced so it is the first choice for shoppers across the region. Together with our longer term plans for the centre, Meadowhall has a great future as one of the leading retail and leisure destinations in the UK.”

Highlights of the refurbishment include:

  • The creation of four districts each with a distinctive character and offer
  • Columns and bulkheads have been reduced or removed creating lighter, brighter malls, with new glazing, improved lighting and new customer seating added
  • Double height flagship formats introduced by brands, including All Saints and Hollister
  • New brands added including the first-ever physical store for online retailer Joe Browns, as well as Michael Kors, Flannels, Urban Decay, Skinny Dip, Tag Heuer, iSmash, Diesel, Joules, Jack Wills, Neal’s Yard, Nespresso, T2, schuh Kids, Pret a Manger, GBK, Barburrito, and Tapas Revolution
  • Upsizings or increased brand presence by Primark, River Island, Sports Direct, Build-A-Bear, JD Sports, Virgin Holidays and The Entertainer
  • Redesigns by existing occupiers including House of Fraser, M&S, Yo! Sushi, Timberland, Ted Baker, and Molton Brown.

Through the transformation, British Land has delivered a range of benefits for the Sheffield City Region:

  • Over 1,200 jobs were created to deliver the refurbishment, with 35% of the workforce living in Sheffield and 41% overall from the Sheffield City Region
  • Almost 50% of the £60 million spend has been awarded to SMEs
  • 70% of the project spend was made within 25 miles of Meadowhall, with 55% being spent in the Sheffield City Region
  • Local companies employed on the transformation include Dearneside, SCS Group, EE Ingleton Engineering, Clearline, EMR and the Ron Hull Group.

The refurbishment of Meadowhall will be followed by the development of a Leisure Hall, which was granted planning consent in a unanimous vote by Sheffield City Council’s planning committee in September. The £300 million extension will add 330,000 sq ft of new catering and leisure to Meadowhall, as well as enhanced public realm and other amenities.

About British Land

Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £18.1 billion (British Land share: £13.5 billion) as at 30 September 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 49% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being awarded a five star rating in the 2017 Global Real Estate Sustainability Benchmark for the second year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.co

Enquiries:
Jackie Janssen
British Land
020 7467 3449

Pip Wood
British Land
020 7467 2838

Amanda McNally
Aver
020 3514 2137

Nick Thornton
Aver
020 3514 2148

Source: British Land

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British Land announces redevelopment plans for 1 Triton Square, Regent’s Place

British Land announces redevelopment plans for 1 Triton Square, Regent’s Place

 

London, 2017-Nov-17 — /EPR Retail News/ — British Land announces that it will redevelop 1 Triton Square, Regent’s Place and has finalised terms on a pre-let of the office space covering 310,000 sq ft with Dentsu Aegis Network, the global brand, media and digital communications specialists, for a 20 year term. Dentsu Aegis currently occupies 118,000 sq ft at 10 Triton Street and their decision to remain at Regent’s Place together with this significant, high quality development is another strategic step in achieving British Land’s campus vision for Regent’s Place.

The 366,000 sq ft redevelopment increases the lettable area by 127,000 sq ft and includes 20,000 sq ft of retail and leisure at ground floor and 10,000 sq ft of affordable work space. Designed by architects Arup Associates, the eight storey building will offer modern, flexible work space around a large central atrium providing linkage between floors and creating a vibrant social hub. The redevelopment will also deliver four large roof terraces and incorporate sustainable and smart technologies to support mobility and collaboration across the group.

Planning Consent has been granted by the London Borough of Camden and work is expected to start on site in March 2018. British Land’s £196 million commitment to the redevelopment is in line with the company’s focus on campuses, ensuring they respond to changing needs, enhance the experience for the people who use them and appeal to a broader range of occupiers. Development exposure is also being sensibly managed with 57% of the company’s committed pipeline now pre-let or under offer.

Tim Roberts, Head of Offices at British Land, said: “I am delighted that we have agreed one of the largest pre-lets in the West End in over 20 years with Dentsu Aegis demonstrating the strength of demand for high quality, well-located space. This enables us to commit to our redevelopment at 1 Triton Square, which marks the next phase in the evolution of Regent’s Place. This is a great example of our campus approach in action. We are focused on creating vibrant and engaging environments across our portfolio by increasing the mix of uses, and curating the public realm as well as delivering great buildings. Dentsu Aegis’s decision to commit to 1 Triton Square and Regent’s Place reflects the success of that approach.”

Nick Priday, Chief Financial Officer, Dentsu Aegis Network, said: “Our new global headquarters at Regent’s Place will position us at the heart of some of the biggest global digital businesses in London. Dentsu Aegis is growing both globally and in the UK and we currently operate out of a number of locations across London. This strategic move will enable us to operate more efficiently as a global business, and create long-term certainty over our property portfolio. One Triton Square will be an environment where our business will thrive, bringing our people and brands together to make collaboration even easier and reduce complexity for the benefit of our clients and our people.”

Regent’s Place is a 13-acre campus in London’s West End, close to Great Portland Street and Warren Street underground stations as well as Euston mainline railway station. The campus has been substantially redeveloped in recent years, with 10-30 Brock Street the most recent addition. Occupiers include Facebook, Santander, Dimensional Fund Advisors and Debenhams corporate headquarters.

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £18.1 billion (British Land share: £13.5 billion) as at 30 September 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 49% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being awarded a five star rating in the 2017 Global Real Estate Sustainability Benchmark for the second year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com

About Dentsu Aegis Network
Part of Dentsu Inc., Dentsu Aegis Network is made up of ten global network brands – Carat, Dentsu, dentsu X, iProspect, Isobar, mcgarrybowen, Merkle, MKTG, Posterscope and Vizeum and supported by its specialist/multi-market brands. Dentsu Aegis Network is Innovating the Way Brands Are Built for its clients through its best-in-class expertise and capabilities in media, digital and creative communications services. Offering a distinctive and innovative range of products and services, Dentsu Aegis Network is headquartered in London and operates in 145 countries worldwide with more than 40,000 dedicated specialists. www.dentsuaegisnetwork.com

Contact:

Corporate
Pip Wood
Corporate Communications Director
020 7467 2838

Charlotte Whitley
Corporate Communications Manager
020 7467 2933

Gordon Simpson (Finsbury)
020 7251 3801

Source: British Land

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British Land welcomes Gourmet Burger Kitchen and Let’s Sushi at Meadowhall

LONDON, 2017-Oct-30 — /EPR Retail News/ — British Land, joint owner of Meadowhall, one of the UK’s premier shopping destinations, has announced that Gourmet Burger Kitchen and Let’s Sushi will join the line-up at the Oasis Dining Quarter to provide an even broader choice of food at the centre.

Opening in November, Gourmet Burger Kitchen’s new 2,500 sq ft restaurant, located on the upper level alongside leading brands like Giraffe, TGI Fridays and Carluccio’s, will cater for 100 covers.

Local operator, Let’s Sushi, will take a 500 sq ft unit on the lower level opposite Barburrito and in the heart of the family food hall, which includes 1,200 communal seats. The restaurant will be the brand’s second site in the city and is set to open before Christmas offering fresh sushi and bento boxes alongside soups and other hot dishes.

Alice Keown, F&B Asset Manager for British Land, said: “Meadowhall’s £60 million refurbishment has been a key factor in securing new brands. Gourmet Burger Kitchen and Let’s Sushi signing is particularly exciting as it will add even more variety and choice to the Oasis Dining Quarter from the food hall on the lower level, to the 16 family focussed restaurants on the upper level.

“Around 64% of our shoppers choose to have something to eat or drink when they visit, so we are constantly looking for new brands to refresh our offer and create an even more modern and vibrant dining experience.”

Keith Bird, Chief Operating Officer for GBK, said: “We have been looking to secure a site in Meadowhall for some time and with so much momentum behind the refurbishment project, now seemed like the perfect moment to take space there. Located in a prime unit at the biggest retail destination in Yorkshire, the new restaurant will help to bring Gourmet Burger Kitchen to a much bigger local audience and is a very exciting next step for us.”

The centre’s £60m refurbishment will complete before Christmas. 40 brands including All Saints, Hollister, House of Fraser and Hugo Boss have invested £34 million in redesigning and refitting their stores to reflect the centre’s new contemporary feel. A further 30 store upgrades are currently underway. Last month, Meadowhall also secured a resolution to grant planning consent for a £300 million Leisure Hall extension.

30 new brands have signed at Meadowhall over the last 18 months, with Flannels, Tag Heuer, Nespresso, Neal’s Yard and Godiva all adding to the centre’s premium offer. Mail order and e-commerce retailer Joe Browns is set to launch its first ever physical store in early November.

Smith Young and Davis Coffer Lyons represented British Land. John Brady represented GBK and Let’s Sushi represented themselves.

Enquiries:
Jackie Janssen, British Land 020 7467 3449
Pip Wood, British Land 020 7467 2838
Amanda McNally, Aver 020 3514 2137
Nick Thornton, Aver 020 3514 2148

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long-term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46-acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016, British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

SOURCE: British Land

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British Land: New lettings further strengthen the retail, leisure and F&B offer at Fort Kinnaird, Edinburgh

British Land: New lettings further strengthen the retail, leisure and F&B offer at Fort Kinnaird, Edinburgh

LONDON, UK, 2017-Oct-12 — /EPR Retail News/ — The Gibraltar Limited Partnership has announced thirteen new lettings and an additional four re-gears totalling more than 135,000 sq ft including mezzanine space at Fort Kinnaird, Edinburgh. British Land is property advisor to the Gibraltar Limited Partnership.

The new lettings further strengthen the retail, leisure and F&B offer at the centre and include:

  • JD Sports is doubling in size with a new 10,000 sq ft store on a 10 year lease
  • Schuh and Schuh Kids will complement the centre’s existing fashion offer with a new 5,000 sq ft store on a 10 year lease
  • Waterstones has opened a new 3,800 sq ft café concept store on a 10 year lease
  • Office has signed for a new 2,500 sq ft store on a 10 year lease
  • Starbucks is to open a new format café in a bespoke 2,500 sq ft unit on a 10 year lease
  • Card Factory is moving within the scheme and has signed for a new 2,300 sq ft store on a five year lease
  • O2 will be relocating to a new 2,000 sq ft store on a five year lease
  • Tui has signed for a new 1,700 sq ft store on a 10 year lease
  • Currys PC World is upsizing to a new regional flagship store over 39,500 sq ft (ground and mezzanine) on a 10 year lease
  • Pure Gym is to open a new 20,000 sq ft gym over two levels on a 10 year lease
  • Oak Furniture Land has opened its second Edinburgh store with 18,000 sq ft (ground and mezzanine) on a 10 year lease
  • Wilko continues its UK expansion with a new 10,700 sq ft store on a 10 year lease
  • Tapi Carpets has taken 5,300 sq ft on a 10 year lease.

In addition to the new lettings, a number of retailers have demonstrated their commitment to Fort Kinnaird by extending their leases, including Perfume Shop (10 years), Vision Express (10 years), Clarks (five years), and Carphone Warehouse (three years).

James Varley, Asset Manager for British Land, said: “The scale of these lettings, with a number of leading brands choosing to locate their flagship stores with us, is a great endorsement of the work we have done at Fort Kinnaird to enhance the environment for our customers. Our understanding of the way people shop, grounded in data analytics, is enabling us to respond to their needs with a targeted retail and leisure mix, as well as space to relax and be entertained.”

Fort Kinnaird has seen footfall increase and trading hours extended since the opening of a 57,000 sq ft leisure quarter and a bespoke 39,000 sq ft Primark. The leisure quarter, featuring a seven screen Odeon cinema and a range of restaurants, has also extended the centre’s catchment and average dwell time.

Fort Kinnaird is ranked first in its category by Trevor Wood Associates (Going Shopping 2017) and second in its category in Scotland according to CACI.

Fort Kinnaird has a catchment of 840,000 people and features 66 leading shopping and leisure brands including Primark, Odeon, Next, River Island, Boots and Currys.

British Land is Property Adviser to HUT and Crestbridge Hercules Management IC is the Manager.

The Gibraltar Limited Partnership was advised by Eric Young & Co and Paradigm Property Consultants.

Enquiries:
Investor Relations
Cressida Curtis, British Land 020 7467 2938
Media
Pip Wood, British Land 020 7467 2838
Jackie Janssen, British Land 020 7467 3449
Emma Hammond, FTI Consulting 020 3727 1227
Gordon Simpson, Finsbury Group 020 7251 3801

Notes to Editors

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being awarded a five star rating in the 2017 Global Real Estate Sustainability Benchmark for the second year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

About The Gibraltar Limited Partnership 
The Gibraltar Limited Partnership is a 50/50 joint venture between Hercules Unit Trust (HUT) and The Crown Estate (www.thecrownestate.co.uk). The partnership also owns Gallagher retail centre in Cheltenham.

About Hercules Unit Trust
Hercules Unit Trust (HUT) is a Jersey-based closed-ended property unit trust with a fixed life which has been extended to 2020, and is subject to further extension with unit holder consent. HUT’s primary investment focus is major retail properties in the United Kingdom and, in particular, those properties that offer a critical mass of retailing and, where possible, have the benefit of Open A1 planning consent. As at 31 March 2017, we own 76% of the fund.

HUT is the UK’s largest specialist retail warehouse property unit trust. As at 31 March 2017, the Trust owned and managed 12 regional and local centres, including Glasgow Fort and 50% of Fort Kinnaird in Edinburgh, providing in total around 3.5 million sq ft of space. Key tenants include Primark, Next, Boots, M&S, Arcadia, H&M, New Look, JD Sports and TK Maxx.

British Land is Property Adviser to HUT and Crestbridge Hercules Management IC is the Manager.

About Crestbridge Hercules Management IC
Crestbridge Hercules Management IC is a cell company subsidiary of Crestbridge Management ICC, part of the Crestbridge group of companies. Crestbridge is an independent provider of administration, management and corporate governance services. Crestbridge Hercules Management IC is regulated by the Jersey Financial Services Commission.

SOURCE: British Land

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British Land rolls out its training programme Bright Lights Starting Out

British Land rolls out its training programme Bright Lights Starting Out

LONDON, UK, 2017-Oct-12 — /EPR Retail News/ — British Land, in partnership with The Source Skills Academy, is rolling out its training programme – Bright Lights Starting Out – across 13 of its Local and Regional retail centres to help youngi people find work in the retail, leisure, food and drink industry.

The free programme, which was launched at six centres in 2016, saw a success rate of 75% of graduates securing a job in retail and hospitality.

The aim of the programme is to provide unemployed young people with valuable skills to help them to start to build a career in modern retail or hospitality, combining classroom teaching with work placements. The five week course runs to coincide with Christmas recruitment. Each asset will see 15 young people aged 16-24 years old undertake the course which combines work place experience with the delivery of nationally accredited qualifications. The successful individuals will graduate with a Level 1 in Retail Knowledge, Level 2 WorldHost Principles of Customer Service and Level 1 Health & Safety.

Participants will benefit from coaching sessions with industry experts, support with interview and CV writing skills in addition to a personal mentor to get set goals for the next six months following completion of the programme.

At the end of the scheme, trainees will receive their formal qualifications at an official celebration event.

Charles Maudsley, Head of Retail, Leisure & Residential for British Land, said: “The retail industry is the UK’s largest private sector employer with some 2.9 million people working in the sector; a third of these are under 25 years old. Bright Lights and the Starting Out training programme is part of our commitment to connect with the local communities in which we operate, offering best in class service to help both our occupiers and local people to grow, thrive and gain new skills. The Starting Out programme is providing skills and training to young people, hugely important to help them in their future careers and to achieve recognised qualifications.”

Bright Lights supports people of all ages, abilities and backgrounds and includes apprenticeships, training and work experience, internships, employment programmes and graduate schemes. Through supporting local skills, employment and procurement, British Land is helping local people and businesses grow whilst at the same time creating a skilled workforce needed for the future and nurturing thriving economies around its assets.

The programme is being delivered at Meadowhall, Sheffield; St Stephen’s, Hull; Teesside, Stockton; Beaumont, Leicester; Serpentine Green, Peterborough; New Mersey, Speke; Giltbrook, Nottingham; Glasgow Fort, Glasgow; Surrey Quays, Rotherhithe; Ealing Broadway, W5; Fort Kinnaird, Edinburgh; Drake Circus, Plymouth and Broughton, Chester.

Enquiries:
Investor Relations
Cressida Curtis, British Land 020 7467 2938
Media
Pip Wood, British Land 020 7467 2838
Jackie Janssen, British Land 020 7467 3449
Emma Hammond, FTI Consulting 020 3727 1227
Gordon Simpson, Finsbury Group 020 7251 3801

Notes to Editors

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing.  Our industry-leading sustainability performance led to British Land being awarded a five star rating in the 2017 Global Real Estate Sustainability Benchmark for the second year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

iThe programme is aimed at those between 16-24 years, with the exception of Drake Circus, Plymouth which has a different local requirement.

SOURCE: British Land

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British Land announces departure of Chief Financial Officer Lucinda Bell

London, 2017-Oct-05 — /EPR Retail News/ — British Land announces that Lucinda Bell, Chief Financial Officer, has informed the Board of her intention to stand down from the Board and leave the Company on 4 April 2018. Lucinda was appointed to the Board in March 2011, becoming Chief Financial Officer in May 2011. The Company will now commence a search for a successor and will make an announcement in due course.

Chris Grigg, Chief Executive, said: “We wish Lucinda well for the future and thank her for her significant contribution to the Company over her time at British Land. As CFO she has been instrumental in strengthening the balance sheet and reorganising our finances so we have a strong platform for the future. I am pleased that she will continue to play an active role as we prepare an orderly handover to her successor.”

Lucinda Bell said: “After a long career with British Land including the last six years as CFO, I have decided to step down and leave next year. It has been a privilege and a pleasure to contribute to the success of British Land as it has transitioned into a modern, strategically focussed REIT. I’ve thoroughly enjoyed working for such an exceptional company and with so many talented people”.

Enquiries:
Investor Relations:
Cressida Curtis
British Land
020 7467 2938

Media:
Pip Wood
British Land
020 7467 2838

Guy Lamming
Finsbury
020 7251 3801

Gordon Simpson
Finsbury

Source: British Land

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British Land: Meadowhall received resolution to grant planning consent for £300 million extension

British Land: Meadowhall received resolution to grant planning consent for £300 million extension

 

London, 2017-Sep-19 — /EPR Retail News/ — Meadowhall, one of the UK’s most successful regional shopping destinations, has received a resolution to grant planning consent for a £300 million extension that will transform the centre’s leisure offering for its 24 million annual visitors. Councillors unanimously voted in favour of the 330,000 sq ft development.

The extension will integrate with the front of the existing centre featuring dining and entertaining options, a new cinema, café court, gym, open-air terrace and space for leisure, event and community use.

The Leisure Hall will follow a £60 million refurbishment that is transforming the look and feel of the existing centre. This work will be completed during the autumn, ahead of the peak Christmas trading period, and has directly benefited the local economy with 70% of the work commissioned from companies within 25 miles of the centre.

In anticipation of increasing customer interest in Meadowhall as a result of this comprehensive refurbishment, 40 retailers have invested more than £34 million in redesigning and refitting their existing stores to fit the new contemporary feel. These include All Saints, Hollister, House of Fraser and Hugo Boss with a further 30 currently underway. In the 12 months to June 2017, all 61 occupiers with leases due to expire renewed their tenancies and eight of these retailers increased the size of their space within the centre in advance of the refurbishment’s completion.

30 new brands have also signed at Meadowhall over the last 18 months, with Flannels, Tag Heuer, Nespresso, Neal’s Yard and Godiva all adding to the centre’s premium offer.

Charles Maudsley, Head of Retail, Leisure and Residential for British Land, said:
“We are delighted with the Planning Committee’s decision and will now work with our partners and other stakeholders over the coming months on the detail of the Leisure Hall to ensure Meadowhall delivers the maximum benefits for customers, retailers and the wider Sheffield City Region.

“The refurbishment completing later this year, our continued leasing success, significant store investment by retailers and the Leisure Hall proposals are all significant steps in the centre’s continued evolution.”

Notes to Editors

About British Land:
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016, British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.

Enquiries:
Investor Relations:
Cressida Curtis
British Land
020 7467 2938

Media:
Pip Wood
British Land
020 7467 2838

Jackie Janssen
British Land
020 7467 3449

Nick Thornton
Aver
020 3514 2148

Amanda McNally
Aver 0
20 3514 2137

Further details can be found on the British Land website at www.britishland.com

Source: British Land

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British Land announces 98% occupancy of Broadgate’s 2FA with new lettings to Starling Bank and Innovate Finance

British Land announces 98% occupancy of Broadgate’s 2FA with new lettings to Starling Bank and Innovate Finance

LONDON, 2017-Sep-12 — /EPR Retail News/ — British Land and GIC announce that Starling Bank, the first mobile-only challenger bank to launch a current account, and Innovate Finance, the UK membership association for the global FinTech community, have agreed to take space at Broadgate’s 2FA (2 Finsbury Avenue).

Starling Bank will take 14,500 sq ft on the third floor of the building and Innovate Finance will take 1,600 sq ft on the seventh floor, bringing the building to 98% occupancy.

These new occupiers represent another milestone for 2FA, which is transforming into a hub for technology and creative companies. Other recent lettings at 2FA include Kingfisher, whose digital team has taken space with British Land’s flexible workspace brand, Storey. Theatre Delicatessen, a charitable organisation which focuses on supporting emerging theatre makers, opened at 2FA in July and delivers a new cultural angle to Broadgate.

These lettings demonstrate that Broadgate is successfully appealing to growth sectors, particularly FinTech, for which London is a well-established hub of talent, energy and ideas. Broadgate’s dynamic campus offering, with an evolving mix of retail and leisure, and an extensive programme of events and experiences is attracting a broader mix of occupier, and its appeal will be further enhanced by the arrival of the Elizabeth Line at Liverpool Street Station in 2018.

British Land and GIC’s vision for Broadgate includes a substantial redevelopment of 2 & 3 FA, which received planning consent last year. The lettings announced today preserve optionality on this building, enabling the progression of plans when the time is right.

David Lockyer, Head of Broadgate, British Land, said: “Starling Bank has blazed a trail as one of the UK’s most dynamic challenger banks whilst Innovate Finance has championed the UK FinTech community globally, helping to cement London’s place as the world’s FinTech capital. Their decision to take space at Broadgate illustrates just how successfully the campus is establishing a reputation as a centre of FinTech excellence, and is a great example of the how the campus is appealing to growth sectors. Our long term plans will see Broadgate evolve into a vibrant and mixed-use neighbourhood for London; expanding the occupier mix is an important step in that journey.”

Anne Boden, CEO & Founder of Starling Bank, added: “Broadgate is a special place for me – I remember first working here in the 80s and 90s. Sitting on the cusp of the City and Shoreditch, it has always been vibrant and a real attraction for talent. Now, initiatives like British Land’s 2FA are luring smart, innovative companies together and developing a fantastic community. They are building on that history, on the crossover between finance, technology, and creative sectors with exciting results. London is, and can remain the fintech capital of the world, but to do so it needs more spaces like this where diverse ideas and talent feel welcome and can flourish.”

Charlotte Cresswell, CEO, Innovate Finance, commented: “Broadgate’s location, on the doorsteps of both Shoreditch and the City, will enable Innovate Finance to support its growing membership base in the area, which includes many startups, technology companies and major banks. It will also bring us closer to our community partners and benefactors, particularly the City of London, who are keen to work together to help build expand London’s dynamic FinTech cluster. We are looking forward to making the most of our space and creating a network in the area. This includes strengthening the links and interface between the neighbouring tech and creative communities that are playing vital roles in shaping the success of UK’s FinTech sector- from the team at Google in King’s Cross to the app developers and coders in Shoreditch and Silicon Roundabout.”

For further details on the projects and events at Broadgate, visit www.broadgate.co.uk.

Enquiries:
Investor Relations
Cressida Curtis, British Land 020 7467 2938
Media
Claire Turvey, Emily Murphy, FTI Consulting 020 3727 1000

About Broadgate
Broadgate is a 32-acre central London neighbourhood adjacent to the transport hub of Liverpool Street station. It is located alongside the creative communities of Shoreditch, Spitalfields and Old Street, and borders the City to the south.

Joint owners British Land and GIC are investing in Broadgate’s evolution into a world class, mixed use destination, bringing people together to work, shop, drink and dine, reflecting people’s changing lifestyle ambitions and attitudes.

Broadgate is the largest pedestrianised urban neighbourhood in central London. Its appeal as an established location for financial and business service companies endures, however it is seeing increasing demand from tech, media and other growth sectors, all looking for a well-located and vibrant place to both work and enjoy spending time.

Broadgate’s shopping, leisure and restaurant offer will increase dramatically over the next few years with the arrival of new and exciting brands throughout the campus. Broadgate’s public realm is enhanced by forward-thinking artwork and design and its open spaces play host to a popular year-round events programme.

An estimated 65 million people visit Broadgate every year; this is expected to increase with the opening of the Elizabeth Line at Liverpool Street in 2018.

To find out more, visit www.broadgate.co.uk.

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London. Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

About Starling Bank
We’re a fintech business with a banking licence, fully regulated by the FCA and PRA. We were granted a banking licence in July 2016. Starling Bank is a member of Faster Payments and an issuer of MasterCard.

We’re not copying the traditional banking model – we’ve learned from it, taking the not-so-good bits and turning them into our best bits. We believe giving our customers access to a mobile market of products and services that best fit their financial needs, helps them on their way to a happier, healthier financial life.

For more information, please visit www.starlingbank.com or contact Harriet Allner, Head of Communications, at media@starlingbank.com.

About Innovate Finance
Innovate Finance is an independent membership association that represents the UK’s global FinTech community. Founded in 2014 with the support of the City of London and Canary Wharf Group, Innovate Finance is a not-for-profit with over 250+ members that aims to accelerate the country’s leading position in the global financial services sector by directly supporting the next era of technology-led financial services innovators, whether they be a young startup or an established industry player.

The goal is to create a single point of access across the sectors to help foster enabling policies, regulation, talent development, business growth opportunities and investment in the UK — and, most importantly, to create a global finance sector that offers services that are more sustainable, more inclusive and better for everyone.

SOURCE: British Land

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British Land: New research reveals symbiotic relationship between a brand’s physical store and its ecommerce platform

British Land: New research reveals symbiotic relationship between a brand’s physical store and its ecommerce platform

 

New research revealing a symbiotic relationship between a brand’s physical stores and its ecommerce platform has been published today by British Land.

London, 2017-Aug-07 — /EPR Retail News/ — The research, using data from Connexity Hitwise, shows that when a new store opens, traffic to the retailer’s website from the surrounding postal area increases by 52% on average within six weeks of opening. Importantly, digital traffic from the local area then remains around this level (figure 1), demonstrating that a physical store has a significant, positive and sustained impact on digital interaction with the brand.

Brands with fewer than 30 stores enjoyed the greatest positive impact from store openings, with uplifts in local traffic to their websites of 84% on average (figure 2), showing that a physical store can make a critical contribution to the online success of expanding brands.

These findings take British Land’s True Value of Stores research one step further and starts to quantify the ‘halo effect’. More work is already underway, in partnership with Revo, to measure the distinct contribution of each channel and ensure leasing models and valuation methods reflect the benefit of the store to retail businesses as a whole.

Ben Dimson, Head of Retail Business Development for British Land, said: “One year on from the True Value of Stores report, the findings are more relevant than ever. Blending channels is increasingly common, pure-plays are still moving to physical and click & collect, an increasingly important link between physical and online, is continuing to take ground. Click & collect usage is on average 46% greater than the national average at our Local centres proving they are particularly well positioned for omnichannel shopping.”

Charles Maudsley, Head of Retail, Leisure & Residential for British Land, said: “The research shows that physical stores are an engine of online growth. Consumers choose brands that align to their lifestyle and values: a physical store enables a retailer to demonstrate its brand in action and drive interest online. At the same time, stores enable retailers to respond to evolving shopping habits, market their brand effectively, and deliver products more efficiently. At British Land, we provide the perfect platform for retailers to do this through our continued investment in Regional and Local centres across the UK.”

Notes to Editors

About the True Value of Stores Research

The True Value of Stores research quantified for the first time the value of click & collect sales and online sales browsed in store. The key findings were that 89% of all UK retail sales touch a store and non-food physical sales are boosted by 9% when adding click & collect sales and online sales browsed in store. The research also identified a ‘halo effect’ which improves brand awareness, customer service and trust, therefore contributing to online sales that do not directly touch the store. Further details can be found at www.britishland.com/truevalueofstores.

About British Land

Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

Enquiries:
Investor Relations:
Cressida Curtis
British Land
020 7467 2938

Media:
Pip Wood
British Land
020 7467 2838

Jackie Janssen
British Land
020 7467 3449

Emma Hammond
FTI Consulting
020 3727 1227

Gordon Simpson
Finsbury Group
020 7251 3801

Source: British Land

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British Land supports National Literacy Trust’s Young Readers Programme for the sixth year

British Land supports National Literacy Trust’s Young Readers Programme for the sixth year

 

London, 2017-Jul-27 — /EPR Retail News/ — British Land has partnered with the National Literacy Trust for the sixth year to support its Young Readers Programme – an initiative which has helped more than 19,000 children under the age of 11 to read for fun in their spare time. The Young Readers Programme is celebrating its 20th birthday this year.

Every child that participates in the programme is guided on how to choose books that are of interest and at the right level to encourage an interest in reading outside the classroom. Children are then given the chance to use their new skills to select three new books to take home for free.

The programme has become an annual fixture in the British Land calendar and this year took place across a record 25 local and regional assets including Drake Circus, Plymouth; Meadowhall, Sheffield; Fort Kinnaird, Edinburgh and Old Market, Hereford.

A new addition to the programme is the ‘Young Reading Hero’ competition which identifies and rewards children under the age of 11 who use reading to positively benefit others. The competition is taking place for the second time this year across 15 Local and Regional centres.

A literacy-themed prize will be awarded to the winner at each of the 15 assets including £100 of National Book Tokens for their school, £50 of National Book Tokens for themselves, plus a copy of ‘My Brother is a Superhero’ by David Solomons – winner of last year’s Waterstones Children’s Book Prize.

Charles Maudsley, Head of Retail, Leisure and Residential for British Land, said: “The Young Readers Programme is a fantastic initiative to aid children’s development as well as boosting literacy levels across the country and we are delighted to support the programme for a sixth year. The programme has been running for 20 years now which is testament to the success and creativity of the scheme which continues to engage young children and drive a passion for reading. Literacy underpins the long-term wellbeing and prosperity of every community and I’m very proud to help support the communities we operate in.”

Jonathan Douglas, Director of the National Literacy Trust, said: “We know that reading for pleasure is one of the most effective ways to help children reach their full potential. Encouraging children to read for enjoyment is an important step towards boosting literacy levels. Our research shows that children who enjoy reading every day outside school are five times more likely to read above the expected level for their age than those who don’t. With the support of British Land, its retail centres and retailers across the UK, our Young Readers Programme has helped more than 19,000 children choose books to enjoy and keep. For many, these were the first books they had ever owned.”

Notes to Editors

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

Media Enquiries:
Jackie Janssen
Retail PR Manager
British Land
020 7467 3449

Emma Hammond
Senior Director
FTI Consulting
020 3727 1227

Source: British Land

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British Land to allocate up to £300 million of capital to a share buy-back during the current financial year

London, 2017-Jul-19 — /EPR Retail News/ — Against a backdrop of continuing strong demand in its investment markets, British Land announces that it intends to allocate up to £300 million of capital to a share buy-back during the current financial year.

The Board regularly reviews capital allocation to optimise long-term returns for shareholders. Since the year end, the Company has continued to sell into a strong investment market. However, currently, opportunities to purchase at attractive returns are more limited, and investment in the Company’s shares at the prevailing discount offers better value than further asset acquisitions.

Since the start of the financial year, the Company has achieved good disposal and leasing progress and continued to develop the pipeline of development opportunities that it has already created. At the AGM today, the following overview of recent activity will be provided:

  • Since the Full Year Results announcement in May, the sale of The Leadenhall Building for £575 million (BL share) has been completed, £135 million assets have been sold and a further £88 million are under offer
  • In total, 370,000 sq ft of lettings and renewals were made during the first quarter at 7.8% ahead of ERV
  • A further 870,000 sq ft of space is under offer or in advanced negotiations across British Land’s three London campuses
  • This space under offer includes all 310,000 sq ft of office space at 1 Triton Square, Regent’s Place, the plans for which have now been approved by the Mayor. The Company expects to commit to this £200 million development in the next few weeks
  • At 1 Finsbury Avenue, part of the Broadgate Campus, work will start on the £35 million (BL share) refurbishment next month, adding retail, a new cinema and roof terrace to the building. Exclusive discussions regarding 78,000 sq ft of this improved space, representing 27% of the total available, are underway with technology company, Mimecast
  • As part of the first-phase roll out of Storey, the flexible workspace brand, the lease of 25,000 sq ft of space at 2 Finsbury Avenue has been agreed with Kingfisher Digital

Chris Grigg, Chief Executive, will state: “This rolling buy-back programme reflects our commitment to seeking the best long-term returns for shareholders.

“We continue to see strong demand in the investment market, which makes opportunities to acquire new standing assets, at attractive returns, more limited than usual. With our shares trading at a substantial discount to NAV and providing a 5% dividend yield, allocating capital into a share buy-back represents a clear value opportunity.”

“With substantial proceeds being realised from our disposals programme, we do not expect any material change in our loan to value ratio as a result of the share buy-back. We retain significant resources to develop the pipeline of development opportunities we have created and the flexibility to respond to any changes in market conditions.”

Dividend:

As announced at the Full Year Results, the first interim dividend payment for the quarter ended 30 June 2017 will be 7.52 pence per share, a 3.0% increase on the comparable period last year. The first interim dividend will be paid on 10 November 2017 to shareholders on the register at close of business on 6 October 2017 and will be a Property Income Distribution. The Company will not be offering a SCRIP alternative with this dividend.

Other information:

A further announcement containing more detailed information regarding the share buy-back will be released in due course, before the start of any dealing under the share buy-back program.

Notes to Editors

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

Enquiries:
Investor Relations
Cressida Curtis
British Land
020 7467 2938

Media
Pip Wood
British Land
020 7467 2838

Guy Lamming
Finsbury
020 7251 3801

Gordon Simpson
Finsbury
020 7251 3801

Source: British Land

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British Land: Joe Browns to open its first physical store at Meadowhall in autumn

British Land: Joe Browns to open its first physical store at Meadowhall in autumn

 

London, 2017-Jul-05 — /EPR Retail News/ — British Land, joint owner of Meadowhall, Yorkshire’s premier shopping destination, has announced that mail order and e-commerce retailer, Joe Browns, will open its first physical store at the centre in the autumn.

The 4,000 sq ft store in the centre’s High Street will be designed by Dalziel and Pow. The store’s opening will coincide with the launch of the brand’s new Autumn Winter 2017 collection of clothing and accessories for men and women.

British Land’s True Value of Stores research reveals that stores improve brand awareness, customer service and trust and that physical also contributes to online sales that do not directly touch the store. It also predicts that retailers that can offer a seamless omnichannel experience for shoppers are likely to outperform.

Richard Crowther, Asset Manager for British Land, said: “Such a unique brand choosing Meadowhall for its global debut demonstrates Meadowhall’s firm position as a leading UK retail and leisure destination. We think it’s a strong endorsement of our work to create environments that reflect the way people shop and demonstrates the importance of an omnichannel offering for today’s retailers.”

Simon Brown, Managing Director and Founder of Joe Browns, added: “We are thrilled at the opportunity to launch our first ever store within Meadowhall, offering our existing loyal customers a new way to shop with us and allowing us to meet a brand new audience. This is a really exciting step for the company that will transform us into a true multi-channel retailer and we can’t wait to start that journey at Meadowhall.”

David Dalziel, Creative Director at Dalziel & Pow, said: “Designing a store for a popular online brand is a huge responsibility, we need to reflect their core strengths in a way that is truly individual and appealing to the new audience it is about to meet. Joe Browns is full of personality, so it’s clear we have lots of inspiring content to build on.”

A string of premium brands have recently committed to Meadowhall including Flannels, Neal’s Yard, Tag Heuer and Nespresso. House of Fraser, All Saints, Hollister and Hugo Boss are also redesigning their stores.

These lettings and redesigns complement the centre’s £60m refurbishment which is currently underway, as well as the £16 million retailer investment made by 42 brands that have redesigned stores since the start of the refurbishment last year. A further 31 store reformat projects are currently taking place, due to complete in line with the culmination of the refurbishment programme towards the end of the year.

Smith Young and CBRE represented British Land. CWM represented Joe Browns.

Notes to Editors

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices.  We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer.  We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them.  This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio.  Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio.  Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing.  Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

Enquiries:  

Jackie Janssen
British Land
020 7467 3449

Pip Wood
British Land
020 7467 2838

Amanda McNally
Aver
020 3514 2137

Nick Thornton
Aver
020 3514 2148

Source: British Land

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British Land: Finastra to occupy three floors at 4 Kingdom Street, Paddington Central

British Land: Finastra to occupy three floors at 4 Kingdom Street, Paddington Central

London, 2017-Jul-02 — /EPR Retail News/ — British Land announces today (June 29, 2017) that it has let three floors at 4 Kingdom Street, Paddington Central, to software company Finastra, and the office space is now 89% let or under offer.

Finastra, formed in 2017 by the combination of Misys and D+H, develops software for financial institutions, including 48 of the world’s 50 largest banks. The company has signed a ten year lease to occupy the first, second and third floors at 4 Kingdom Street, totalling 42,400 sq ft.

The announcement follows the formal launch of 4 Kingdom Street on 28 June. The building, which provides 147,000 sq ft across nine floors, is the first building to be developed by British Land at Paddington Central. The building reached practical completion in April 2017.

On acquiring the campus 2013, British Land appointed architects Allies and Morrison to review and update an existing planning consent for 4 Kingdom Street. The revised design includes the relocation of the core to increase the openness and flexibility of the floorplates, the introduction of large outside terraces on Levels 2 to 9, and the creation of a ‘glass pod’ on each floor which provides flexible meeting space outside the main floorplate and offers views across west London.

The building also features an active roof terrace including a café, outdoor seating area and London’s highest basketball court.

Tim Roberts, Head of Offices and Residential at British Land, said: “It is a tremendous achievement to be 89 per cent let or under offer as we formally present the space to market.

“The commitment from Finastra and strength of interest in the other floors is an endorsement of our decision to re-configure the building to deliver greater flexibility, more collaborative spaces and a truly unique roof space, along with the substantial improvements we’ve made to the campus environment.

“We believe the delivery of 4 Kingdom Street is well-timed given the lack of supply in the West End market, and the arrival of Crossrail at Paddington in 2018, and hope to announce further occupier commitments in the near future.”

Paddington Central comprises 11 acres and is home to leading international businesses including Microsoft, Vodafone, Shire, VISA and Prudential.

British Land acquired part of the Paddington Central office campus for £470 million in 2013 and completed the purchase of One Sheldon Square for £210 million in 2015. Since then, the company has invested nearly £100 million in transforming of the public realm and the construction of 4 Kingdom Street.

In May al-fresco dining experience Pergola opened a new 850-capacity venue at Paddington Central, and British Land is continuing to develop a new retail and leisure offer at the campus.

Cushman & Wakefield and CBRE are the joint agents on 4 Kingdom Street. CBRE advised Finastra.

Notes to Editors

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

SOURCE: British Land

Media Contact:

Andrew Scorgie
FTI Consulting
020 3727 1458

 

 

 

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British Land launches new workspace brand for businesses seeking additional space on flexible terms

British Land launches new workspace brand for businesses seeking additional space on flexible terms

 

London, 2017-Jun-21 — /EPR Retail News/ — British Land has launched Storey, a new brand providing flexible workspace for ambitious and growing businesses as well as larger organisations seeking additional space on flexible terms.

Created to fill a clear gap in the London office market which customers say is not being satisfied, Storey provides offices for companies employing between 20 and 70 people who have outgrown co-working space and whose needs have evolved. Storey also suits existing or larger office customers seeking project or shorter term space on top of their core requirements.

Storey will operate within British Land’s existing London assets, predominantly at its Broadgate, Paddington Central and Regent’s Place campuses. These have a critical mass of office customers and offer the ideal environment for ambitious organisations looking to grow. Storey customers will be able to access facilities traditionally reserved for larger organisations and automatically benefit from the broader campus environment where a focus on wellbeing also supports growth and productivity.

Storey will add to the evolving mix of these campuses, where additional retail and leisure uses have been introduced to adapt to modern workplace trends. All three campuses are on key London transport hubs, with Crossrail due to arrive at Paddington Central and Broadgate soon.

Storey’s simple and flexible workspace can be branded with an individual company’s identity. Supported by British Land’s property management arm, Broadgate Estates, it will ensure a seamless and reliable service. Space can be fully tailored to customers’ needs, with leases adaptable to their individual circumstances.

Chris Grigg, Chief Executive, British Land, said: “British Land concentrates on three core principles: understanding our customers so we can respond to their needs; creating great environments both within our buildings and their broader environments; and using our scale, expertise and long-term outlook to deliver value across our portfolio.

“Not only does the combination of these differentiate us, it also led us to develop Storey for a different customer base. By understanding the needs of ambitious SMEs and project teams, providing the right space for them and removing the hassle of running an office, it allows them to focus on their own businesses.

”We have the benefit of owning the buildings in which Storey will operate giving us much greater control of the service and experience customers receive, such as the quality of the technology and continuity of the Wi-Fi, one of the top frustrations identified in our research.”

Leases will be simple, jargon-free and all-inclusive, covering rent, business rates and service charges, secure, fully backed-up WiFi, reception service, cleaning and maintenance and office furniture. Storey will offer shared facilities including showers, bike racks, shared kitchen areas and meeting and collaboration space.

80,000 square feet of flexible workspace is already being fitted out. An additional 80,000 square feet of space has been earmarked for a further wave of Storey openings over the rest of the year.

The initial Storey locations will be at 18-20 Appold Studios and 2 Finsbury Avenue, both at Broadgate; and at International House, Ealing Broadway.

Notes to Editors

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

Enquiries:
Media
Charlotte Whitley
British Land
0207 486 4466

Giles Barrie
FTI Consulting
0203 727 1042

Source: British Land

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British Land announces trio of eateries at SouthGate, Bath

British Land announces trio of eateries at SouthGate, Bath

 

London, 2017-Jun-12 — /EPR Retail News/ — Aviva Investors and British Land have secured a trio of eateries at SouthGate, Bath. Spanish chef Omar Allibhoy’s Tapas Revolution and Smash Burger will open debut restaurants in the city with Pret A Manger completing the hat trick of deals. In addition, MAC has opened its first stand-alone store in the region, with a 940 sq ft store.

Tapas Revolution will open at the newly developed Little SouthGate restaurant quarter, joining Thaikhun, Comptoir Libanais and Absurd Bird. The restaurant quarter is now fully let.

All four brands locating within Little SouthGate are new to the city and together form a new dining destination with covered outdoor seating to further strengthen the existing SouthGate restaurant offer which includes Gourmet Burger Kitchen, Prezzo and Graze amongst others.

Matthew Reed, Head of Retail Assets (Midlands and South West) for British Land, said: “We are pleased to have secured such a stellar line up at Little SouthGate. The exciting F&B additions to both the leisure quarter and wider centre demonstrate our continued focus on creating outstanding places that are in tune with modern consumer lifestyles.”

Simon Green, Director for Aviva Investors, added: “We are pleased to welcome Smash Burger and Tapas Revolution to SouthGate, bringing these new culinary offerings to the city. It is great that these brands have chosen Bath as the place to establish their first restaurants in the region.”

SouthGate is a prime open air regional scheme next to Bath Spa railway station. The centre is home to some of the biggest retailers in the UK including Debenhams, Topshop/Topman, H&M, Hollister, Apple, River Island, Urban Outfitters, All Saints, Superdry and Pandora.

Aviva Investors and British Land were advised by Cushman & Wakefield and Bruce Gillingham Pollard.

Notes to Editors

About Aviva Investors
Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 15 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £290 billion as at 31 March 2016.

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices.  We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer.  We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them.  This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio.  Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio.  Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing.  Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

Enquiries:
Aviva Investors:
Steve Ainger
Media Relations
020 7809 8452

British Land:
Investor Relations:
Jonathan Rae
British Land
020 7467 2938

Media:
Pip Wood
British Land
020 7467 2838

Jackie Janssen
British Land
020 7467 3449

Emma Hammond
FTI Consulting
020 3727 1227

Gordon Simpson
Finsbury Group
020 7251 3801

Source: British Land

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British Land announces winner of its 14th annual Awards for Excellence

British Land announces winner of its 14th annual Awards for Excellence

 

London, 2017-May-31 — /EPR Retail News/ — We are proud to announce the winners of the 2017 British Land Awards for Excellence, recognising individuals and teams in our supply chain who go above and beyond to deliver our sustainability strategy and create Places People Prefer.

We received almost 170 nominations for our 14th annual Awards for Excellence from colleagues, suppliers and occupiers across our portfolio, reflecting how many people in our supply chain go the extra mile to make a positive difference. The 11 awards will be presented to the winners at a ceremony in London on 27 June 2017.

Lucinda Bell, Chief Financial Officer at British Land: “People are at the heart of our vision to create Places People Prefer – the people who promote wellbeing at our places, who connect with our local communities, design our buildings for a changing world and grow local skills and opportunities. Through our Awards for Excellence, we are delighted to celebrate the placemakers in our supply chain. A big thank you to all our suppliers and especially this year’s award winners.”

Wellbeing in offices

  • Agnieszka Pietal of Principle Cleaning at Paddington Central.
  • Aurore Vandenneste of Ultimate Security Services at 7 Clarges.

Wellbeing in retail

  • Della Penny, Bob Winston, Andy Clark, Paul Dadds and George Scoles of ABM at Drake Circus.
  • Guy Henderson, Centre Manager at SouthGate.
  • Incentive FM landscaping team at St Stephen’s.

Community

  • Dawn Osborne, Operations Manager at Meadowhall.
  • John Donald of Laing O’Rourke at Clarges Mayfair.

Futureproofing

  • Augustin Defour of Bouygues at The Hempel Collection.
  • Peter Parkinson, Operations Manager at SouthGate.

Skills and opportunity

  • Sean McCullagh and Peter Tierney of TGM Contractors at Clarges Mayfair.
  • Stuart McCulloch of McLaren and Neil Rigby of Hawkspear at New Mersey and Broughton.

Our annual Awards for Excellence winners were selected from a shortlist of our quarterly award winners by a panel of judges from across the business. Read about this year’s quarterly winners below.

Spring Award Winners Shine
03 May 2017
By James Varley, Retail Asset Manager at British Land

Thanks to the People Who Make our Places
01 Mar 2017
By Victoria Brunt, Property Management Executive at British Land

Sustainable Placemaking Superstars
19 Dec 2016
By Matthew Webster, Head of Wellbeing and Futureproofing at British Land

Thanks to our Local Champions
11 Oct 2016
By Joanne Hammond, Community Investment Executive at British Land

Additional shortlist

Well done to our other quarterly award winners who made the shortlist:

  • Alan Barker, Centre Manager at Broughton.
  • Andrea Cavanagh of The Source Skills Academy.
  • Andrew Stafford, Engineering Manager at 10 Brock Street.
  • Annarose Hearsum, Lisa MacGregor and Nicola Sinden at Whiteley.
  • Chris Skelton and the property services team at Meadowhall.
  • Colin Kemp of Westgrove at Giltbrook.
  • Dulce Franco of Portico at York House.
  • Gail Sutton, Centre Manager at Giltbrook.
  • Hammad Gilani of Mitie Security at Ealing Broadway.
  • Jack Petrie of Sainsbury’s at Eden Walk.
  • James Mead of Alive ITC across our retail portfolio.
  • Jason Cumbicus of Principle Cleaning at Marble Arch House and York House.
  • Joe Merrigan and Ronan Campbell of the security team at Lisnagelvin.
  • Lee Stone and the JP Conry Cleaning Services team at Brock Street.
  • Mark Collins of Broadgate Estates.
  • Martyn Evans of M3 Consulting at 100 Liverpool Street.
  • Melanie de Andrades at Glasgow Fort.
  • Melissa Alexandrou at 2 Kingdom Street.
  • Mick Redmond at 350 Euston Road.
  • Mike Paris and Rob Colman of ABM at Whiteley.
  • Muhammad (Mo) Faheem of Incentive Lynx Security at Ebury Gate.
  • Neil Reid of ABM at Fort Kinnaird.
  • Noemi Szolcsanyi of Portico at Regent’s Place.
  • Olajide (Ade) Adegboyega of Incentive Lynx Security at The Leadenhall Building.
  • Operations team at SouthGate..
  • Peter Skerry of Westgrove at New Mersey.
  • Philip Kanyamahane of Incentive Lynx Security at Paddington Central.
  • Rosie Glenn of Rosie Glenn Fine Art.
  • Ross Tredget, Andy Groarke and Lewis Kinneir of Carmody Groarke at Paddington Central.
  • Steve Goddard, Deputy Centre Manager at Beaumont.

Notes to Editors

About British Land

Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com

Press Contact:
Pip Wood
British Land
020 7467 2838

Source: British Land

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C C Land completes acquisition of The Leadenhall Building from British Land and Oxford Properties

C C Land completes acquisition of The Leadenhall Building from British Land and Oxford Properties

 

London, 2017-May-27 — /EPR Retail News/ — British Land and Oxford Properties (the global real estate arm of OMERS, the pension plan for Ontario’s municipal employees) today (25 MAY 2017) announce that they have completed the sale of The Leadenhall Building to C C Land.

The terms of the transaction are as set out in the press release issued on 1 March 2017 announcing the exchange of contracts. The sale was conditional on C C Land obtaining shareholder approval for the transaction. This was obtained at a Special General Meeting of C C Land’s shareholders on 18 May 2017.

British Land and Oxford Properties owned The Leadenhall Building in a 50/50 joint venture formed in 2010. The headline price achieved of £1.15 billion represents a premium to the valuation preceeding exchange of contracts. The sale marks the end of a very successful partnership between British Land and Oxford Properties to develop and lease this world class building.

British Land and Oxford Properties were advised by Cushman & Wakefield, Eastdil Secured, Mayer Brown and Herbert Smith Freehills.

About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com.

About Oxford Properties Group
Oxford Properties Group is one of the world’s premier real estate investment, development and management companies. Established in 1960, Oxford manages over C$40 billion of real estate assets on behalf of its co-owners and investment partners, with a global portfolio spanning over 60 million square feet. We have offices across Canada and in London, Luxembourg, Boston, Washington DC and New York, with regional investment, development and management professionals who have deep real estate expertise and local market insight. Oxford now has approximately C$7bn of assets under management in Europe, with a focus on core office and high street retail assets in Central London and Paris. Oxford is the global real estate arm of OMERS, the pension plan for Ontario’s municipal employees.

For more information about Oxford visit: www.oxfordproperties.com.

Enquiries:
British Land  
Investor Relations:
Jonathan Rae
British Land
020 7467 2938

Media:  
Pip Wood
British Land
020 7467 2838

Guy Lamming
Finsbury Group
020 7251 3801

Gordon Simpson
Finsbury Group
020 7251 3801

Oxford Properties
Media:
Sally Saadeh
Oxford Properties
020 7822 2844

Neil Maitland
Maitland
020 7379 5151

Source: British Land

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British Land releases sixth version of its Sustainability Brief for Developments

London, 2017-May-24 — /EPR Retail News/ — The latest version of our Sustainability Brief for Developments supports our vision to create Places People Prefer – places that promote wellbeing and improve productivity; places considered part of their local communities; places designed for the future, flexible and adaptable as the world changes; places where local people develop skills and businesses grow.

We look to our project teams to be ambitious in achieving the greatest positive social and environmental outcomes through their work on our developments. Our Sustainability Brief provides a process and guidance for setting and delivering best practice sustainability goals on each development project.

The sixth version of our Sustainability Brief was informed by consultation with our development partners and experts, along with a review of current best practice and upcoming regulation. It aligns with our 2020 sustainability strategy and other policies, including our Supply Chain Charter and Local Charter.

Nigel Webb, Head of Developments at British Land: “For more than ten years, our Sustainability Brief for Developments has been driving improvements in construction site management, efficient designs for energy and water use, and enhanced biodiversity. We are pleased to launch our updated Brief, which supports our vision to create Places People Prefer.”

Notes to Editors

About British Land

Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com

Press Contact:
Pip Wood
British Land
020 7467 2838

Source: British Land

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British Land supports the London Design Festival as the Headline Partner for the second consecutive year

British Land supports the London Design Festival as the Headline Partner for the second consecutive year

 

London, 2017-May-19 — /EPR Retail News/ — British Land is supporting the London Design Festival as the Headline Partner for the second consecutive year and has commissioned geometric textile designer Camille Walala, to create a landmark project at Broadgate as part of the 2017 Festival.

Known for her bold use of colour and pattern, Walala will incorporate bold vinyl prints and a soft-textured ‘building-block castle’ to transform Exchange Square at Broadgate into a vibrant and tactile architectural landscape for the duration of the festival. The commission at Broadgate will be one of the major landmark projects for the festival, which is now in its fifteenth year.

Both partnerships demonstrate the company’s ongoing commitment to the use of design in creating both outstanding buildings and their broader environments.

Head of Operations Joff Sharpe, said: “British Land uses design to enliven both individual buildings and their broader environments to create Places People Prefer. Camille Walala’s landmark project for Broadgate is a fine example of this approach. Our partnership with the London Design Festival celebrates the world’s leading designers and we are delighted to support the festival for a second consecutive year’.

London Design Festival Director, Ben Evans said: “We are delighted that British Land is supporting the Festival as Headline Partner for the second consecutive year. We welcome their continued support and involvement, as champions of innovative design, upholders of sustainable values and as leaders in the wider world of architecture and design.”

British Land will work with the London Design Festival to host the prestigious awards evening, the British Land Celebration of Design, for a third consecutive year. This forms a key part of the Festival, honouring and celebrating those who have made a significant contribution to the world of design.

Notes to Editors

About British Land

Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com

About the London Design Festival

The London Design Festival is a key constituent of London’s Autumn creative season, alongside London Fashion Week, Frieze Art Fair and the London Film Festival. Established in 2003 its role is to celebrate and promote London as the world’s design capital and gateway to the international design community and it has now established a reputation as one of the largest and most exciting design events in the world. This year the Festival will run from 16-24 September and over 400 events and installations will be on offer across the capital, from an exciting programme at the V&A to a major installation in Trafalgar Square plus over 300 partners who will participate in the nine day Festival.

Press Contact:
Pip Wood
British Land
020 7467 2838

Caroline Sampson
LUCHFORD APM
020 7731 1000

Source: British Land

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British Land announces five new lettings in Yorkshire’s premier shopping destination Meadowhall

London, 2017-May-15 — /EPR Retail News/ — British Land, joint owner of Meadowhall, Yorkshire’s premier shopping destination, has announced five new lettings to Flannels, Neal’s Yard, Godiva, Tag Heuer and Nespresso, plus four store redesigns by House of Fraser, All Saints, Hollister and Hugo Boss.

These lettings and redesigns complement the centre’s £60m refurbishment which is currently underway, as well as the £16 million retailer investment made by 42 brands that have redesigned stores since the start of the refurbishment last year. A further 31 store reformat projects are currently taking place, due to complete in line with the culmination of the refurbishment programme towards the end of the year.

New openings

  • Located on Meadowhall’s prominent Park Lane mall, leading luxury retailer, Flannels, will open a 10,000 sq ft store in May. The store will offer a range of luxury men’s and women’s designer fashion items from brands such as Vivienne Westwood, Hugo Boss, Stone Island, Belstaff and Paul Smith.
  • Opposite Flannels, organic natural health and beauty retailer Neal’s Yard will open a 700 sq ft store in the summer with a therapy room for wellbeing treatments.
  • Luxury Belgian chocolatier, Godiva, joins the line up with a 1,700 sq ft experience-led concept store in August, located on Meadowhall’s High Street next to North Face and Bose. The space will include a café and a boutique showcasing the brand’s chocolate artistry and products.
  • Located next to Goldsmiths and opposite Reiss, luxury Swiss watch manufacturer, Tag Heuer, will open a 1,820 sq ft store, its largest in the UK.
  • Following the successful launch of its first regional kiosk in Meadowhall, Nespresso, the market leader in premium portioned coffee, will open a permanent 1,200 sq ft store in Park Lane next to L’Occitane and Jigsaw.

Refurbishments

  • Department store, House of Fraser, will undergo refurbishments completing in September this year and introduce new brands to the store including Kate Spade and Ralph Lauren handbags.
  • British fashion retailer, All Saints, will install a new double height shop front in its 6,800 sq ft store.
  • American lifestyle brand, Hollister, has regeared its lease and will refurbish its 7,500 sq ft store and install a new double height shop front.
  • Hugo Boss has refurbished its 5,200 sq ft store located next to Diesel and House of Fraser to showcase its new menswear brand.

Richard Crowther, Asset Manager for British Land, said: “Our strategy is to ensure Meadowhall’s offer reflects consumers’ changing modern lifestyles. Attracting these premium brands to the line-up achieves this objective and is a great endorsement of the enhanced environment we and our occupiers are creating at the centre.”

Jenna Triscott, Marketing Manager for Flannels, added: “Meadowhall’s affluent and loyal customer base with a desire for designer brands, made it the perfect choice when selecting the location for our debut store in the region. We look forward to opening our new store within Meadowhall’s prestigious Park Lane and joining this thriving retail community.”

In addition to the latest signings and upsizes from premium and aspirational brands, fashion favourite, River Island, will be upsizing and refurbishing its store creating a new 21,000 sq ft unit. The news also complements a strong period of leasing at Meadowhall with the announcement of eight new retail signings and upsizes for Primark, Sports Direct, Wilko, Timberland and schuh kids, along with the UK flagship for Second Cup, totalling 90,000 sq ft of space over the last 6 months.

CBRE, Smith Young and Davis Coffer Lyons acted for Meadowhall. Rawstron Johnson and Ewan Mackay Property Consultants represented Flannels and Neal’s Yard respectively. CBRE and Harper Dennis Hobbs represented Nespresso and River Island respectively. Hartnell Taylor Cook and JLL represented Hollister and Godiva.

About British Land

We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality UK commercial property, focused on Retail and London Offices and Residential. We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.

Our strategy is to create Places People Prefer. It is based on long term trends and creates a portfolio suited to current and future needs which are aligned to modern lifestyles. We employ our placemaking skills, and increasingly our mixed-use expertise to expand the appeal to a broader range of occupiers and drive long term performance.

Retail accounts for 49% of our portfolio. We create outstanding places for modern consumer lifestyles, places to shop, eat and be entertained. Comprising over 20 million sq ft of Retail and Leisure space across regional and local multi-let destinations, superstores, department stores and leisure assets, the Retail portfolio is modern, flexible and adaptable to a wide range of formats.

Office and Residential accounts for 49% of our portfolio. It comprises 7.6 million sq ft of well-connected office-led campuses and high quality standalone buildings. Office campuses include Regent’s Place and Paddington Central in the West End and Broadgate (50% share) in the City. Other assets include York House, 10 Portman Square and Marble Arch House and our residential assets are at Clarges Mayfair, The Hempel Collection and Aldgate Place.

Two per cent of our portfolio is at Canada Water – a 46 acre redevelopment opportunity in our medium term pipeline to create a new mixed-use urban centre for London.

Sustainability is embedded throughout our business. Our places become part of their local communities and promote health, improve productivity and increase enjoyment. We protect asset value through energy generation and efficiency, materials innovation and flood risk reduction and we develop skills and opportunities to help local people and businesses grow.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over the last five years.

Further details can be found on the British Land website at www.britishland.com.

Enquiries:
Investor Relations:
Jonathan Rae
British Land
020 7467 2938

Media Relations:
Jackie Janssen
British Land
020 7467 3449

Pip Wood
British Land
020 7467 2838

Amanda McNally
Aver
020 3514 2137

Nick Thornton
Aver
020 3514 2148

Source: British Land

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British Land launches new pop-up food concept at Broadgate, EC2

British Land launches new pop-up food concept at Broadgate, EC2

 

London, 2017-May-12 — /EPR Retail News/ — British Land announces today (11 MAY 2017) the launch of a new pop-up food concept at Broadgate, EC2

Shipping containers in Finsbury Avenue Square have become home to an exciting line-up of five independent street-food operators.

These include WOLF, which offers authentic Italian food akin to a neighbourhood-style restaurant; and Claw Food, serving crab burgers sourced from traceable, sustainable and fresh crabs from Start Bay in Devon, and Yolk, which offers breakfast and lunch including its famous poached egg pots and speciality Black Box Coffee. Two remaining operators are also under offer.

The new pop-up food line-up will be in place until late 2018 whilst British Land progresses the refurbishment of a new office and retail scheme at 1 Finsbury Avenue.

Alice Keown, F&B Asset Manager for British Land, said: “We are really excited that we have the opportunity to work with these young, energetic, creative operators at a relatively early stage in their development, and expect them to flourish at Broadgate. Yolk, WOLF and Claw Food is an eclectic line-up that will complement the already fantastic offer at Broadgate Circle, and help further establish the campus as an emerging weekend and evening destination.”

Broadgate is at the centre of one of the most exciting and vibrant parts of London. It connects the creative communities of Spitalfields and Shoreditch with the City, and is adjacent to Liverpool Street Station. Set across 30 acres, Broadgate includes four landscaped squares offering dining, shopping and health clubs. An estimated 65 million people visit Broadgate each year, which is set to increase with the opening of Crossrail in December 2018.

British Land was represented by Davis Coffer Lyons. The operators represented themselves.

Notes to Editors

About British Land

We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality UK commercial property, focused on Retail and London Offices and Residential. We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.

Our strategy is to create Places People Prefer. It is based on long term trends and creates a portfolio suited to current and future needs which are aligned to modern lifestyles. We employ our placemaking skills, and increasingly our mixed-use expertise to expand the appeal to a broader range of occupiers and drive long term performance.

Retail accounts for 49% of our portfolio. We create outstanding places for modern consumer lifestyles, places to shop, eat and be entertained. Comprising over 20 million sq ft of Retail and Leisure space across regional and local multi-let destinations, superstores, department stores and leisure assets, the Retail portfolio is modern, flexible and adaptable to a wide range of formats.

Office and Residential accounts for 49% of our portfolio. It comprises 7.6 million sq ft of well-connected office-led campuses and ‘campus-lite’ clusters of high quality buildings. Office campuses include Regent’s Place and Paddington Central in the West End and Broadgate (50% share) in the City. Other assets include York House, 10 Portman Square and Marble Arch House and our residential assets are at Clarges Mayfair, The Hempel Collection and Aldgate Place.

Two per cent of our portfolio is at Canada Water – a 46 acre redevelopment opportunity in our medium term pipeline to create a new mixed-use urban centre for London.

Sustainability is embedded throughout our business. Our places become part of their local communities and promote health, improve productivity and increase enjoyment. We protect asset value through energy generation and efficiency, materials innovation and flood risk reduction and we develop skills and opportunities to help local people and businesses grow.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over the last five years.

Further details can be found on the British Land website at www.britishland.com.

Media Enquiries:

Pip Wood
British Land
020 7467 2838

Charlotte Whitley
British Land
020 7467 2933

Emma Hammond
FTI Consulting
020 3727 1227

Source: British Land

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Glasgow Fort gets new retail, food and beverage lettings following completion of new £12 million Leisure Quarter

Glasgow Fort gets new retail, food and beverage lettings following completion of new £12 million Leisure Quarter

 

London, 2017-Apr-06 — /EPR Retail News/ — British Land and Hercules Unit Trust (HUT) announce a flurry of new retail, food and beverage lettings at Glasgow Fort. These lettings follow the completion of the new £12 million Leisure Quarter which features four restaurants and a 600-space multi-storey car park. The car park provides 30% additional parking capacity to accommodate increasing customer numbers.

  • Superdry has signed for its largest store in Glasgow and its first out-of-town store in the UK taking 12,000 sq ft on a 10 year lease
  • Gourmet Burger Kitchen (3,000 sq ft, 15 year lease) and Thai street food operator Thaikhun (3,750 sq ft, 15 year lease) have taken space at the new Leisure Quarter
  • Paperchase has taken its first Scottish out-of-town store with 2,000 sq ft on a 10 year lease
  • Smiggle is set to open its first out-of-town store in the UK taking 1,000 sq ft on a 10 year lease
  • YO! Sushi will transform the centre’s entrance with a 2,300 sq ft restaurant on a 20 year lease
  • Costa has upsized and will open one of its largest UK units taking 3,500 sq ft on a 10 year lease
  • Footasylum has signed for 5,000 sq ft on a 10 year lease
  • Pret a Manger will operate a bespoke 2,500 sq ft glazed pod featuring a green living wall on a 20 year lease
  • Tessuti will complement the centre’s extensive fashion offering by sharing a 10,000 sq ft store with Scotts on a 15 year lease
  • Waterstones has signed for 3,300 sq ft on a 10 year lease
  • Café Rouge has taken 3,900 sq ft on a 15 year lease for its first Scottish out-of-town restaurant
  • Nando’s which has traded very successfully since first opening at Glasgow Fort has extended into an adjacent unit almost doubling its space to 4,700 sq ft on a 15 year lease
  • JD Sports has also doubled its space at the centre and will open a 10,000 sq ft store on a 15 year lease
  • Mamas & Papas has moved within the centre to a new 5,000 sq ft unit on a 15 year lease.

James Duck, Asset Manager for British Land, said: “Glasgow Fort is a great example of how we’re creating outstanding places that reflect people’s changing lifestyles, and there’s more to come.

“Glasgow Fort’s continued outperformance gave us the confidence to develop the Leisure Quarter increasing the breadth and depth of our food and beverage offering and providing an additional 600 car parking spaces to accommodate growing customer numbers.”

The Leisure Quarter features a unique CorTen rusted steel design and introduces a new palette of materials to the centre including a living green canopy and walls, sustainably sourced timber and natural ventilation to enhance wellbeing. The development provides almost 3,000 sq ft of outdoor dining space, green public spaces, an improved public realm and children’s pocket parks providing places to gather, socialise and play in between the restaurants.

Delivery of the Leisure Quarter follows the opening of a £35.5 million retail extension anchored by a full-line 80,000 sq ft M&S in 2015 and a £9 million leisure extension in 2013. The extensions have changed the demographic of people shopping at the centre and delivered footfall increases.

Glasgow Fort is ranked as the top UK centre in its category by Javelin (Venuescore 2016) and is the top centre in its category in Scotland according to CACI.

Glasgow Fort has a catchment of over 2 million people and now features 90 leading shopping and leisure brands including Zara, Pandora, Topshop, River Island, Fat Face, KIKO Milano, schuh and Wagamama. Glasgow Fort has extended opening hours until 10pm, the longest of any Scottish centre, with 50% of trade taking place after 5pm.

British Land and HUT are represented by Paradigm and Cushman & Wakefield.

Notes to Editors

About British Land

We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality UK commercial property, focused on Retail and London Offices and Residential. We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.

Our strategy is to create Places People Prefer. It is based on long term trends and creates a portfolio suited to current and future needs which are aligned to modern lifestyles. We employ our placemaking skills, and increasingly our mixed-use expertise to expand the appeal to a broader range of occupiers and drive long term performance.

Retail accounts for 49% of our portfolio. We create outstanding places for modern consumer lifestyles, places to shop, eat and be entertained. Comprising over 20 million sq ft of Retail and Leisure space across regional and local multi-let destinations, superstores, department stores and leisure assets, the Retail portfolio is modern, flexible and adaptable to a wide range of formats.

Office and Residential accounts for 49% of our portfolio. It comprises 7.6 million sq ft of well-connected office-led campuses and ‘campus-lite’ clusters of high quality buildings. Office campuses include Regent’s Place and Paddington Central in the West End and Broadgate (50% share) in the City. Other assets include York House, 10 Portman Square and Marble Arch House and our residential assets are at Clarges Mayfair, The Hempel Collection and Aldgate Place.

Two per cent of our portfolio is at Canada Water – a 46 acre redevelopment opportunity in our medium term pipeline to create a new mixed-use urban centre for London.

Sustainability is embedded throughout our business. Our places become part of their local communities and promote health, improve productivity and increase enjoyment. We protect asset value through energy generation and efficiency, materials innovation and flood risk reduction and we develop skills and opportunities to help local people and businesses grow.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over the last five years.

Further details can be found on the British Land website at www.britishland.com.

About Hercules Unit Trust

Hercules Unit Trust (HUT) is a Jersey-based closed-ended property unit trust with a fixed life which has been extended to 2020, and is subject to further extension with unit holder consent. HUT’s primary investment focus is major retail properties in the United Kingdom and, in particular, those properties that offer a critical mass of retailing and, where possible, have the benefit of Open A1 planning consent.

HUT is the UK’s largest specialist retail warehouse property unit trust. As at 31 March 2016, the Trust owned and managed 12 regional and local centres, including Glasgow Fort in Glasgow and 50% of Fort Kinnaird in Edinburgh, providing in total around 3.5 million sq ft of space. Key tenants of the centres include Primark, Next, Boots, M&S, Arcadia, H&M, New Look, JD Sports and TK Maxx. British Land is Property Adviser to HUT and Crestbridge Hercules Management IC is the Manager.

Crestbridge Hercules Management IC

Crestbridge Hercules Management IC is a cell company subsidiary of Crestbridge Management ICC, part of the Crestbridge group of companies. Crestbridge is an independent provider of administration, management and corporate governance services. Crestbridge Hercules Management IC is regulated by the Jersey Financial Services Commission.

Enquiries:
Investor Relation:
Jonathan Rae
British Land
020 7467 2938

Media Relation:
Pip Wood
British Land
020 7467 2838

Jackie Janssen
British Land
020 7467 3449

Emma Hammond
FTI Consulting
020 3727 1227

Gordon Simpson
Finsbury Group
020 7251 3801

Source: British Land

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British Land and USS get planning approval for the £400 million regeneration of Eden Walk, Kingston

British Land and USS get planning approval for the £400 million regeneration of Eden Walk, Kingston

 

London, 2017-Mar-31 — /EPR Retail News/ — British Land and Universities Superannuation Scheme Ltd (USS) have secured planning approval from the Royal Borough of Kingston for the £400 million regeneration of Eden Walk, Kingston.

The proposed scheme, designed by BDP Architects, will regenerate part of the historic market town providing:

  • 28 new retail units with potential to attract a broad range of new brands to the area
  • 12 restaurants and cafes, alongside a sky restaurant with panoramic views across Kingston’s historic centre
  • 380 new homes, with 10% being starter homes
  • c.35,000 sq ft of high quality, modern and flexible office space
  • Three large public spaces, with space for events
  • A boutique cinema, located next to the sky restaurant
  • New pedestrian routes to other parts of the town centre.

The proposed development will create an estimated 600 additional jobs for local people and attract a substantial increase in retail and leisure spend to Kingston. The formal planning approval follows an extensive programme of community engagement over two years, resulting in significant local support for the development.

Richard Wise, Head of Retail Development for British Land, said:
“Kingston is a special place which enjoys a unique blend of heritage, retail and leisure from its great riverside location. Looking forward, Kingston’s standing in Greater London will continue to rise, because the Council has a positive growth agenda and is willing to get things done.

“The proposed redevelopment of Eden Walk is designed to complement the existing retail offer and create a high quality central space for Kingston which will over time, become the heart of the town. It will be a place that reflects modern lifestyles, where people can live, shop, work and relax with friends and family.”

Graham Burnett, Head of Property at USS Investment Management, added: “We are pleased that the development has received formal planning consent and look forward to an even brighter future for Eden Walk.”

Leader of Kingston Council, Councillor Kevin Davis, said: “We’re immensely excited to see the redevelopment of Eden Walk move a step closer. To grow and prosper, the borough needs high quality and carefully considered schemes like this one and the fact that Kingston is able to attract such significant investment, is a huge vote of confidence in the future direction of the borough.

“Eden Walk is a key component in our plans to revitalise and future-proof our town centre, and follows on from the restoration of our Ancient Market Place and riverside improvements. Once completed Eden Walk will offer an attractive blend of retail, leisure and living space that is in-keeping with the character of our royal borough, and furthers our ambitions to make Kingston the dominant retail destination in south west London.”

Eden Walk is surrounded by Kingston University with more than 23,000 students, the College and theatre. The current centre appeals to a wide range of shoppers and has a total catchment of more than three million, a comparison goods spend potential of £963 million and catering spend potential of £260 million.

Notes to Editors

About Universities Superannuation Scheme
Universities Superannuation Scheme was established in 1975 as the principal defined benefit pension scheme for universities and other higher education institutions in the UK. It has around 375,000 scheme members across more than 360 institutions and is one of the largest pension schemes in the UK, with total fund assets of approximately £57.6 billion (as at 31 December 2016).

The scheme’s trustee is Universities Superannuation Scheme Limited, a corporate trustee which provides scheme management and trusteeship from its offices based in Liverpool and London. The trustee company delegates implementation of its investment strategy to a wholly-owned investment management subsidiary company – USS Investment Management Limited – which provides in-house investment management and advisory services.

For more information on Universities Superannuation Scheme please go to www.uss.co.uk.

About British Land

We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality UK commercial property, focused on Retail and London Offices and Residential. We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.

Our strategy is to create Places People Prefer. It is based on long term trends and creates a portfolio suited to current and future needs which are aligned to modern lifestyles. We employ our placemaking skills, and increasingly our mixed-use expertise to expand the appeal to a broader range of occupiers and drive long term performance.

Retail accounts for 49% of our portfolio. We create outstanding places for modern consumer lifestyles, places to shop, eat and be entertained. Comprising over 20 million sq ft of Retail and Leisure space across regional and local multi-let destinations, superstores, department stores and leisure assets, the Retail portfolio is modern, flexible and adaptable to a wide range of formats.

Office and Residential accounts for 49% of our portfolio. It comprises 7.6 million sq ft of well-connected office-led campuses and ‘campus-lite’ clusters of high quality buildings. Office campuses include Regent’s Place and Paddington Central in the West End and Broadgate (50% share) in the City. Other assets include York House, 10 Portman Square and Marble Arch House and our residential assets are at Clarges Mayfair, The Hempel Collection and Aldgate Place.

Two per cent of our portfolio is at Canada Water – a 46 acre redevelopment opportunity in our medium term pipeline to create a new mixed-use urban centre for London.

Sustainability is embedded throughout our business. Our places become part of their local communities and promote health, improve productivity and increase enjoyment. We protect asset value through energy generation and efficiency, materials innovation and flood risk reduction and we develop skills and opportunities to help local people and businesses grow.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over the last five years.

Further details can be found on the British Land website at www.britishland.com.

Enquiries:
Investor Relations:
Jonathan Rae
British Land
020 7467 2938

Media Relations:
Pip Wood
British Land
020 7467 2838

Jackie Janssen
British Land
020 7467 3449

Emma Hammond
FTI Consulting
020 3727 1227

Gordon Simpson
Finsbury Group
020 7251 3801

Source: British Land

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British Land announces six new signings and upsizes as refurbishment moves into its next phase at Meadowhall

British Land announces six new signings and upsizes as refurbishment moves into its next phase at Meadowhall

LONDON, 2017-Mar-29 — /EPR Retail News/ — British Land, joint owner of Meadowhall, Yorkshire’s premier shopping destination, has announced six new signings and upsizes totalling over 85,000 sq ft as the £60 million refurbishment moves into its next phase.

  • Primark is to extend its existing unit by 21,000 sq ft, creating a 95,500 sq ft flagship store. The increase in size is being facilitated by a move into the former BHS unit.
  • Sports Direct has leased the remainder of the former BHS unit increasing its presence to 44,000 sq ft. Works are already underway to create the larger stores for both brands, with the new regional flagships due to launch this autumn.
  • Family value homewares and household goods retailer, Wilko, will move into the 14,500 sq ft former Sports Direct store in early 2018.
  • Following the success of the schuh store, a new 2,850 sq ft schuh kids specialist store will be opening next door on Meadowhall’s High Street. Launching in April, the store will take the brand’s total presence to almost 9,000 sq ft.
  • Outdoor clothing retailer Timberland, is launching a new look 1,950 sq ft store on Meadowhall’s High Street in April.
  • Second Cup is to open one of its first UK flagship coffee shops on Meadowhall’s Arcade. The 1,560 sq ft café will open later this month as the brand’s ‘black label’ site for the UK, featuring the company’s latest interior design concept.

These signings coincide with the next stage of Meadowhall’s refurbishment. After completion of The Arcade, work is shifting to Meadowhall’s Gallery, High Street and Park Lane, where each mall will be given a different look and feel, using high quality materials, increasing natural light, and improving sightlines. The £60m refurbishment completes at the end of the year and is the most significant investment in the centre since it opened.

Commenting on the news, Richard Crowther, Asset Manager for British Land, said: “With the refurbishment gathering pace, more and more brands are seeking to locate their leading stores at Meadowhall. For many, this means expanding their existing presence, allowing them to stock their full product range and benefit from the placemaking activities British Land brings to all its retail centres.

“These signings are ahead of previous rents, complement the refurbishment and reaffirm Meadowhall’s reputation as the leading shopping destination in the region. This is a very exciting time for the centre.”

Tom Meager, Group Director of Property at Primark, added: “The chance to create a larger store at Meadowhall was one we could not miss. We will open our new store at Meadowhall just as British Land completes the bulk of its refurbishment, so the timing could not be better.”

The latest signings and upsizes follow recent openings by Nespresso, Hawes & Curtis, T2, The Entertainer, Barburrito, Coffika, and Pret A Manger, along with new larger stores for JD Sports and Virgin Holidays.

CBRE, Smith Young and Davis Coffer Lyons acted for Meadowhall. Central Retail, Rawstron Johnson and BNP Paribas represented Primark, Sports Direct and Wilko respectively. Harper Dennis Hobbs and CBRE acted for schuh kids and Timberland. Space Retail acted for Second Cup.

 

Enquiries:
Investor Relations
Jonathan Rae, British Land 020 7467 2938
Media
Jackie Janssen, British Land 020 7467 3449
Pip Wood, British Land 020 7467 2838
Amanda McNally, Aver 020 3514 2137
Nick Thornton, Aver 020 3514 2148

About British Land
We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality UK commercial property, focused on Retail and London Offices and Residential. We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.

Our strategy is to create Places People Prefer. It is based on long term trends and creates a portfolio suited to current and future needs which are aligned to modern lifestyles. We employ our placemaking skills, and increasingly our mixed-use expertise to expand the appeal to a broader range of occupiers and drive long term performance.

Retail accounts for 49% of our portfolio. We create outstanding places for modern consumer lifestyles, places to shop, eat and be entertained. Comprising over 20 million sq ft of Retail and Leisure space across regional and local multi-let destinations, superstores, department stores and leisure assets, the Retail portfolio is modern, flexible and adaptable to a wide range of formats.

Office and Residential accounts for 49% of our portfolio. It comprises 7.6 million sq ft of well-connected office-led campuses and ‘campus-lite’ clusters of high quality buildings. Office campuses include Regent’s Place and Paddington Central in the West End and Broadgate (50% share) in the City. Other assets include York House, 10 Portman Square and Marble Arch House and our residential assets are at Clarges Mayfair, The Hempel Collection and Aldgate Place.

Two per cent of our portfolio is at Canada Water – a 46 acre redevelopment opportunity in our medium term pipeline to create a new mixed-use urban centre for London.

Sustainability is embedded throughout our business. Our places become part of their local communities and promote health, improve productivity and increase enjoyment. We protect asset value through energy generation and efficiency, materials innovation and flood risk reduction and we develop skills and opportunities to help local people and businesses grow.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over the last five years.

Further details can be found on the British Land website at www.britishland.com.

SOURCE: British Land

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British Land starts £23 million enhancement programme at New Mersey, Speke

British Land starts £23 million enhancement programme at New Mersey, Speke

 

London, 2017-Feb-15 — /EPR Retail News/ — British Land and Hercules Unit Trust (HUT) have started construction of a £23 million leisure extension at New Mersey, Speke. British Land is doubling the amount of food and drink across its retail portfolio over the next five years to integrate a bolder, broader, deeper mix and continue to create outstanding places to shop, eat and be entertained.

The 66,000 sq ft development will be anchored by an 11 screen state-of-the-art Cineworld cinema (37,000 sq ft) complete with Superscreen technology. The extension will also deliver an additional 29,000 sq ft of restaurant space across six units. Pre-lets have been secured with TGI Fridays (7,000 sq ft), Nando’s (4,700 sq ft) and Wagamama (3,500 sq ft) and discussions are progressing on the remaining three restaurants. The restaurant element will open in late spring 2018 with the cinema opening in summer 2018.

James Varley, Asset Manager for British Land, said: “The New Mersey leisure extension will significantly improve the centre’s leisure and dining options, enhancing our customers’ experience and creating Places People Prefer. Across our retail portfolio, we are investing to create outstanding places that are in line with peoples’ changing lifestyles.”

Kevin Frost, Property Director for Cineworld, said: “Cineworld is thrilled to be opening a brand new 11 screen cinema at New Mersey with our state-of-the-art Superscreen projection and sound technology. The new extension will undoubtedly enhance the appeal of New Mersey as a regional leisure, dining and retail destination.”

The development is expected to generate 250-300 full and part-time jobs in addition to 100 jobs during the construction phase.

British Land is represented by Wilkinson Williams and Cushman & Wakefield.

Notes to Editors

About British Land
We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality UK commercial property, focused on Retail and London Offices and Residential. We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.

Our strategy is to create Places People Prefer. It is based on long term trends and creates a portfolio suited to current and future needs which are aligned to modern lifestyles. We employ our placemaking skills, and increasingly our mixed-use expertise to expand the appeal to a broader range of occupiers and drive long term performance.

Retail accounts for 49% of our portfolio. We create outstanding places for modern consumer lifestyles, places to shop eat and be entertained. Comprising over 20 million sq ft of Retail and Leisure space across regional and local multi-let destinations, superstores, department stores and leisure assets, the Retail portfolio is modern, flexible and adaptable to a wide range of formats.

Office and Residential accounts for 49% of our portfolio. It comprises 7.6 million sq ft of well-connected office-led campuses and ‘campus-lite’ clusters of high quality buildings. Office campuses include Regent’s Place and Paddington Central in the West End and Broadgate (50% share) in the City. Other assets include The Leadenhall Building, York House, 10 Portman Square and Marble Arch House and our residential assets are at Clarges Mayfair, The Hempel Collection and Aldgate Place.

Two per cent of our portfolio is at Canada Water – a 46 acre redevelopment opportunity in our medium term pipeline to create a new mixed-use urban centre for London.

Sustainability is embedded throughout our business. Our places become part of their local communities and promote health, improve productivity and increase enjoyment. We protect asset value and generate income from energy generation and efficiency, materials innovation and flood risk reduction, and develop skills and opportunities to help local people and businesses grow.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over the last five years. Further details can be found on the British Land website at www.britishland.com.

About Hercules Unit Trust
Hercules Unit Trust (HUT) is a Jersey-based closed-ended property unit trust with a fixed life which has been extended to 2020, and is subject to further extension with unit holder consent. HUT’s primary investment focus is major retail properties in the United Kingdom and, in particular, those properties that offer a critical mass of retailing and, where possible, have the benefit of Open A1 planning consent.

HUT is the UK’s largest specialist retail warehouse property unit trust. As at 31 March 2016, the Trust owned and managed 12 regional and local centres, including Glasgow Fort in Glasgow and 50% of Fort Kinnaird in Edinburgh, providing in total around 3.5 million sq ft of space. Key tenants of the centres include Primark, Next, Boots, M&S, Arcadia, H&M, New Look, JD Sports and TK Maxx.

British Land is Property Adviser to HUT and Crestbridge Hercules Management IC is the Manager

Crestbridge Hercules Management IC
Crestbridge Hercules Management IC is a cell company subsidiary of Crestbridge Management ICC, part of the Crestbridge group of companies. Crestbridge is an independent provider of administration, management and corporate governance services. Crestbridge Hercules Management IC is regulated by the Jersey Financial Services Commission.

Enquiries:
Investor Relations:
Jonathan Rae
British Land
020 7467 2938

Media Relations:
Pip Wood
British Land
020 7467 2838

Jackie Janssen
British Land
020 7467 3449

Emma Hammond
FTI Consulting
020 3727 1227

Gordon Simpson
Finsbury Group
020 7251 3801

Source: British Land

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British Land received its first ever Chartered Institution of Building Services Engineers Test of Time Award

British Land received its first ever Chartered Institution of Building Services Engineers Test of Time Award

 

London, 2017-Feb-09 — /EPR Retail News/ — Last night (08 FEB 2017), British Land picked up the first ever Chartered Institution of Building Services Engineers (CIBSE) Test of Time Award. This recognised energy reductions and building performance across our entire portfolio.

John Field, President of CIBSE, said: “We have seen a range of extraordinary achievements over the last ten years at these Awards, but a building can only truly be said to be high performing if it is able to achieve great results consistently over its lifetime. To reach that goal requires constant innovation, intense commitment and an organisational approach to building performance over a number of years – something that has clearly been demonstrated by the British Land team since their first win in 2012. Not only are their results stunning, but their approach has truly benefitted the industry by providing help, advice and inspiration to others looking to become more sustainable.”

Lucinda Bell, Chief Financial Officer at British Land, commented: “We’re delighted to have won the CIBSE Test of Time Award. Our energy efficiency programme has saved occupiers £13m over four years, at the same time as optimising lighting levels, air quality and temperatures for the wellbeing of people in our buildings. Thanks to our team and property management partner Broadgate Estates for helping us create Places People Prefer.”

Read Matt Webster’s blog on Standing the Test of Time

Notes to Editors

About British Land
We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality UK commercial property, focused on Retail and London Offices and Residential. We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.

We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.

Our strategy is to create Places People Prefer. It is based on long term trends and creates a portfolio suited to current and future needs which are aligned to modern lifestyles. We employ our placemaking skills, and increasingly our mixed-use expertise to expand the appeal to a broader range of occupiers and drive long term performance.

Retail accounts for 49% of our portfolio. We create outstanding places for modern consumer lifestyles, places to shop, eat and be entertained. Comprising over 20 million sq ft of Retail and Leisure space across regional and local multi-let destinations, superstores, department stores and leisure assets, the Retail portfolio is modern, flexible and adaptable to a wide range of formats.

Office and Residential accounts for 49% of our portfolio. It comprises 7.6 million sq ft of well-connected office-led campuses and ‘campus-lite’ clusters of high quality buildings. Office campuses include Regent’s Place and Paddington Central in the West End and Broadgate (50% share) in the City. Other assets include The Leadenhall Building, York House, 10 Portman Square and Marble Arch House and our residential assets are at Clarges Mayfair, The Hempel Collection and Aldgate Place.

Two per cent of our portfolio is at Canada Water – a 46 acre redevelopment opportunity in our medium term pipeline to create a new mixed-use urban centre for London.

Sustainability is embedded throughout our business. Our places become part of their local communities and promote health, improve productivity and increase enjoyment. We protect asset value and generate income from energy generation and efficiency, materials innovation and flood risk reduction, and develop skills and opportunities to help local people and businesses grow.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over the last five years.

Further details can be found on the British Land website at www.britishland.com.

Media Enquiries:
Pip Wood
British Land
020 7467 2838

Source British Land

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British Land secures 83 per cent occupancy at 7 Clarges Street its prime commercial development in Mayfair

London, 2017-Feb-01 — /EPR Retail News/ — British Land announces today (31 JAN 2017) that the office space at 7 Clarges Street, its 51,000 sq ft prime commercial development in Mayfair, is 83 per cent let, having secured terms with Capula Investment Management, Quantum Pacific and Fortress Investment Group.

Capula Investment Management will occupy 23,700 sq ft across three floors whilst US-based global investment firm Fortress has leased the fourth floor (8,200 sq ft). Both deals are for a period of ten years.

Tim Roberts, Head of Offices and Residential, British Land, said: “The interest we’ve seen in 7 Clarges Street and these transactions evidence occupiers’ continuing appetite to make long term commitments for the best buildings in London’s key financial and cultural districts.

“Securing 83 per cent occupancy at 7 Clarges Street, just four months after its launch in September, is testament to the design and quality of the workspace and the appeal of the location.”

7 Clarges Street encompasses six floors of flexible triple-aspect office space, with employees able to enjoy natural light through floor-to-ceiling windows. Located within a five-minute walk of Green Park station, 7 Clarges Street benefits from strong transport links across London, with Crossrail also due to arrive at nearby Bond Street in 2018.

7 Clarges Street is the office element of a wider mixed-use development by British Land which also includes Clarges Mayfair, a luxury residential address of 34 new homes on the edge of Green Park. Due for completion later this year, 23 apartments at Clarges Mayfair have now been sold, some at record-breaking values. The remaining 11 apartments will be marketed on completion of the development.

CBRE advised British Land on 7 Clarges Street. Simon Garfield Property advised Capula Investment Management, DeVono advised Quantum Pacific and Colliers advised Fortress.

Notes to Editors

About British Land
We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality UK commercial property, focused on Retail and London Offices and Residential. We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.

Our strategy is to create Places People Prefer. It is based on long term trends and creates a portfolio suited to current and future needs which are aligned to modern lifestyles. We employ our placemaking skills, and increasingly our mixed-use expertise to expand the appeal to a broader range of occupiers and drive long term performance.

Retail accounts for 49% of our portfolio. We create outstanding places for modern consumer lifestyles, places to shop, eat and be entertained. Comprising over 20 million sq ft of Retail and Leisure space across regional and local multi-let destinations, superstores, department stores and leisure assets, the Retail portfolio is modern, flexible and adaptable to a wide range of formats.

Office and Residential accounts for 49% of our portfolio. It comprises 7.6 million sq ft of well-connected office-led campuses and ‘campus-lite’ clusters of high quality buildings. Office campuses include Regent’s Place and Paddington Central in the West End and Broadgate (50% share) in the City. Other assets include The Leadenhall Building, York House, 10 Portman Square and Marble Arch House and our residential assets are at Clarges Mayfair, The Hempel Collection and Aldgate Place.

Two per cent of our portfolio is at Canada Water – a 46 acre redevelopment opportunity in our medium term pipeline to create a new mixed-use urban centre for London.

Sustainability is embedded throughout our business. Our places become part of their local communities and promote health, improve productivity and increase enjoyment. We protect asset value and generate income from energy generation and efficiency, materials innovation and flood risk reduction, and develop skills and opportunities to help local people and businesses grow.

In April 2016 c received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over the last five years.

Further details can be found on the British Land website at www.britishland.com.

Enquiries:

Investor Relations:
Jonathan Rae
British Land
020 7467 2938

Media Relations:
Sian Disson
FTI Consulting
020 3727 1747

Source: British Land

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British Land announces the appointment of Lord Nick Macpherson as a Non-Executive Director

London, 2016-Dec-22 — /EPR Retail News/ — The Board of The British Land Company PLC is pleased to announce the appointment of Nick Macpherson, formerly Permanent Secretary to HM Treasury, as a Non-Executive Director with effect from 19 December 2016.

Commenting on this appointment, John Gildersleeve, Chairman of British Land, said: “I am delighted to welcome Nick to the Board. He brings strong experience in financial and economic policy having worked in HM Treasury for more than 30 years, leading the department through the financial and economic crisis that began in 2007. His experience will further strengthen the diverse mix of expertise and experience on the Board. We very much look forward to him joining us.”

Nick is Chairman of C. Hoare & Co and a Director of the Scottish American Investment Trust.

Nick has no other disclosures to make pursuant to LR 9.6.13 R.

The Advisory Committee on Business Appointments at the Cabinet Office has approved this appointment.

Notes to Editors:

About British Land

We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality UK commercial property, focused on Retail and London Offices and Residential. We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.

Our strategy is to create Places People Prefer. It is based on long term trends and creates a portfolio suited to current and future needs which are aligned to modern lifestyles. We employ our placemaking skills, and increasingly our mixed-use expertise to expand the appeal to a broader range of occupiers and drive long term performance.

Retail accounts for 49% of our portfolio. We create outstanding places for modern consumer lifestyles, places to shop eat and be entertained. Comprising over 20 million sq ft of Retail and Leisure space across regional and local multi-let destinations, superstores, department stores and leisure assets, the Retail portfolio is modern, flexible and adaptable to a wide range of formats.

Office and Residential accounts for 49% of our portfolio. It comprises 7.6 million sq ft of well-connected office-led campuses and ‘campus-lite’ clusters of high quality buildings. Office campuses include Regent’s Place and Paddington Central in the West End and Broadgate (50% share) in the City. Other assets include The Leadenhall Building, York House, 10 Portman Square and Marble Arch House and our residential assets are at Clarges Mayfair, The Hempel Collection and Aldgate Place.

Two per cent of our portfolio is at Canada Water – a 46 acre redevelopment opportunity in our medium term pipeline to create a new mixed-use urban centre for London.

Sustainability is embedded throughout our business. Our places become part of their local communities and promote health, improve productivity and increase enjoyment. We protect asset value and generate income from energy generation and efficiency, materials innovation and flood risk reduction, and develop skills and opportunities to help local people and businesses grow.

In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over the last five years.

Further details can be found on the British Land website at www.britishland.com

Enquiries:
Investor Relations:
Jonathan Rae
British Land
020 7467 2938

Media Relations:
Pip Wood
British Land
020 7467 2838

Gordon Simpson
Finsbury
020 7251 3801

Source: British Land