Woolwich Estate in south east London joins the portfolio of British Land’s Local retail centres

LONDON, 2018-Feb-13 — /EPR Retail News/ — British Land is pleased to announce that it has acquired the Woolwich Estate, covering 4.9 acres in south east London for a headline price £103 million representing a net initial yield of 4.1%.

This acquisition is in line with our strategy of focusing on well-connected, mixed use assets which meet the evolving needs of our occupiers and their customers. It builds on our portfolio of places benefitting from the Elizabeth Line, including Broadgate, Paddington Central and Ealing Broadway, and provides significant potential to drive growth and returns through our placemaking, asset management and development expertise. It makes an exciting addition to our existing portfolio of Local retail centres, which provide convenience-led shopping for local communities.

The Woolwich estate covers 360,000 sq ft of space in central Woolwich. Predominantly retail, it includes over 50,000 sq ft of residential and 3,000 sq ft of office space. The area is already benefitting from significant regeneration, led by the Elizabeth Line which launches from Woolwich in December 2018 reducing journey times to Canary Wharf and Bond Street to 8 and 22 minutes respectively. To coincide with this, 6,000 new homes have been built or are in the pipeline. The estate is currently 95% occupied, with an average lease length of under four years, and average rent of £17 psf, providing British Land with an attractive opportunity to strengthen the offer and mix in line with the improving catchment.

Charles Maudsley, Head of Retail, Leisure & Residential at British Land, said: “This acquisition provides a unique opportunity to create a thriving retail-anchored centre, benefitting from a mix of uses in an exciting, increasingly well connected and rapidly regenerating part of London. We have a long term vision for the estate which will deliver space that works for retailers and their customers; which generates clear benefits for local communities and drives value for British Land.

Across our London campuses and our multi-let retail properties, we have developed a clear and distinct advantage in managing mixed use environments with development potential, and in enhancing and enlivening our space through placemaking. This acquisition plays very well to those skills.”

The Woolwich Estate comprises 56 retail units and has footfall of 6 million. It benefits from an improving local demographic with over 40% of residents falling within the top three most affluent groups, per CACI consumer classification. Coinciding with the arrival of the Elizabeth Line, Greenwich Council are investing £31 million to deliver a new “Creative District” which will transform five historic buildings into theatre and concert space, with offices and restaurants.

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 £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

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

Media:
Pip Wood
British Land
020 7467 2838

Cressida Curtis
British Land
020 7467 2938

Source: British Land

Joe Browns debuts its very first physical location at British Land’s Meadowhall

Joe Browns debuts its very first physical location at British Land’s Meadowhall

 

London, 2017-Nov-08 — /EPR Retail News/ — Joe Browns has opened its first ever store at British Land’s Meadowhall, one of the UK’s premier shopping destinations.

The 4,000 sq ft store, located on Meadowhall’s High Street, immerses customers in Joe Browns’ colourful world and brings to life the bold online persona of the brand and its mantra: ‘Be Remarkable’. The eclectic space in the store was designed by creative agency Dalziel and Pow and is full of interesting visual pieces and inspiring content such as hand painted illustrative statements.

Commenting on the launch of the debut store, Richard Crowther, Asset Manager for British Land, said: “The opening is an exciting step for Joe Browns, and as its very first physical location, is a testament to Meadowhall’s appeal as a leading UK retail and leisure destination. Our True Value of Stores research shows that stores improve brand awareness, customer service and trust and that physical also contributes to online sales that do not directly touch the store.”

Simon Brown, Managing Director and Founder of Joe Browns added:
“I’m absolutely delighted with the store, I think we’ve achieved what we set out to do, which was to create an impressive three dimensional version of our catalogue. It crystallises our brand in a physical space perfectly.”

Joe Browns’ Meadowhall opening coincides with the conclusion of the centre’s £60m refurbishment, which will be completed before Christmas. 73 brands including All Saints, Hollister, House of Fraser and Hugo Boss have invested £38 million in redesigning and refitting their stores to reflect the centre’s new contemporary feel. Further upgrades are currently underway. 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. In September, Meadowhall also secured a resolution to grant planning consent for a £300 million Leisure Hall extension.

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

Source: British Land

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British Land’s Environmental Management System certified to the latest ISO14001 standard

British Land’s Environmental Management System certified to the latest ISO14001 standard

 

London, 2017-Mar-01 — /EPR Retail News/ — British Land has successfully transitioned its Environmental Management System for all major managed developments to the latest ISO14001 standard.

ISO14001 is the leading international standard for environmental management systems. Our approach has been accredited to earlier versions of the standard since 2008, helping us deliver on our sustainability targets and influencing over 1,000 suppliers across our £2.1 billion development programme from 2010 to 2015 – all part of creating Places People Prefer.

Following a review of our management system in 2016, we implemented a series of improvements. Our new approach further embeds our sustainability strategy and placemaking vision into the construction process, promoting wellbeing, supporting local communities, futureproofing our places and developing skills and opportunities.

External auditors have certified our management system to the ISO14001:2015 standard, from design to construction handover (RIBA stages 0 to 6). The system is managed by Sustainability Manager Karina Williams, supported by external consultant Martin Brown of Fairsnape.

Nigel Webb, Head of Developments at British Land: “Our approach to environmental management is now even more closely aligned to our vision of creating Places People Prefer. The ISO14001 accreditors particularly recognised our strength in engaging with our supply chain for continual improvement and the quality of performance data tracking.”

Sustainability Consultant, Martin Brown of Fairsnape: “The British Land 14001 approach, that blends and embeds important elements of today’s built environment, such as futureproofing, materials, health and wellness, alongside robust and mature environmental management practices, certainly represents the leading edge of environmental management.”

More on British Land’s performance on external standards and commitments

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:

Media
Pip Wood
British Land
020 7467 2838

Source: British Land

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