British Land news and archive

British Land sells stake in Meadowhall shopping centre

Property development and investment company British Land has sold its stake in Sheffield’s Meadowhall shopping centre for 360 million pounds. In a statement, British Land said the move was in line with its current strategy to focus on retail parks and reduce exposure to covered shopping centres. British Land offloaded its 50 percent stake in the...

Retail

Norwegian sovereign wealth fund to buy Sheffield shopping centre Meadowhall

Meadowhall, an indoor shopping centre located in Sheffield, South Yorkshire, and one of the top five shopping destinations in the UK, is to be fully operated by Norway’s sovereign wealth fund. According to The Times, Norges, Norway’s 1.3 trillion pounds sovereign wealth fund, is in advanced talks to acquire British Land’s 50 per cent share of...

Business

British Land snaps up three UK retail parks for 94 million pounds

Shopping centre owner British Land has bought three new retail parks for a total of 94 million pounds. The British company announced Tuesday it has acquired the Capitol Retail and Leisure Park in Preston for 51.5 million pounds; Solartron Retail Park in Farnborough for 35 million pounds; and DFS, a retail warehouse in Cambridge, for 7.35 million...

Retail

Peloton and Lululemon open in Bath

Bath’s premium open-air shopping destination, SouthGate, jointly owned by British Land and Aviva Investors, has secured two new openings from interactive fitness platform, Peloton and premium fitness brand Lululemon. Peloton has opened a 6,100 square foot showroom set over two floors, inhabiting a former Laura Ashley store, to allow consumers to...

Business

British Land reports collecting less than half of December retail rent

Shopping centre owner British Land had collected just 46 percent of its December retail rent, as of January 7. In a statement, British Land, which owns the Meadowhall shopping centre in Sheffield and Ealing Broadway shopping centre in London and Drake Circus in Plymouth, said that December rent collections were “broadly in line with the...

Retail

Leading British property owners sign ‘groundbreaking’ carbon commitment

Hammerson, British Land and Intu are among 23 leading British commercial property owners to have signed a new ‘groundbreaking’ commitment to deliver net zero carbon real estate portfolios by 2050. The Climate Change Commitment will see signatories publicly publish their own pathways to achieving the carbon target by the end of 2020. These...

Retail

Four new retailers sign space at Meadowhall as footfall grows

Four new retailers have signed leases at the British Land-owned Meadowhall shopping centre in Sheffield. Swedish lifestyle brand for children Newbie will be opening a 900-square-foot store, one of its first to open in the UK outside of London. Additionally, the Newbie summer bus, which acts as a mobile, digital and social showroom for the brand...

Business

British Land sells 12 Sainsbury’s stores for 429 million pounds

British Land has announced it is selling 12 Sainsbury’s superstores for a total of 429 million pounds as the property giant continues to reduce its exposure to retail property. British Land announced Tuesday that it is selling the stores to Realty Income Corporation and said its shares of the proceedings will be 193.5 million pounds,...

Retail

Lacoste, Whistles and Skopes to open at Meadowhall

Lacoste, Whistles and Skopes are set to be the latest names to join Meadowhall’s impressive portfolio of fashion retailers following the shopping centre's multi-million-pound refurbishment last year. Lacoste will open a 1,700 square foot store on a 10 year lease, Whistles will open a 990 square foot store on a 5 year lease, and Skopes will open...

Business

Two bosses exit British Land in executive board overhaul

British Land has announced that Tim Roberts and Charlie Maudsley are stepping down as executive directors and board members, effective from 31 March 2019, as part of an overhaul of its executive board. Roberts joined British Land in 1997, and was appointed to the board in 2006, where he had been working as the head of offices. Maudsley joined...

Business

Despite profit drop, British Land says retail assets strong

For the year to March 31, 2018, British Land Company Plc reported EPRA NAV 967 pence, up 5.7 percent; valuation up 2.2 percent with buyback contributing 15 pence. Underlying profit of 380 million pounds (510.5 million dollars), was down 2.6 percent following 1.5 billion pounds (2 billion dollars) net sales of income producing assets, in the last...

Business

British Land acquires Woolwich retail estate

One of London's most exciting retail regeneration projects has just been sold to British Land for 103 million pounds. Known as the Woolwich Estate, a retail mecca spanning 56 units with an annual footfall of 6 million visitors, it covers 360,000 sq ft of mostly retail pace in central Woolwich. The company said it "benefits from an improving...