Executive Summary
British Land is a property investment company based in London and listed on the London Stock Exchange, investing in prime, modern properties. The portfolio is valued at £13.5 billion: the majority is directly owned and managed; the balance is held in joint ventures, partnerships and funds, of which British Land's share is valued at £3 billion. In total, British Land owns or manages real estate valued at £18 billion.
Company History
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Business Model
The Company's focus is on actively adding value to our real estate through portfolio selection, intense asset management, development, entrepreneurial deal-doing and financing. The preferred basic ingredient is prime property in sectors where it has distinctive skills and benefits from favourable long term supply/demand trends. Property that is in demand from occupiers enjoys better rental growth but also better downside protection, typically enhanced by long leases with secure covenants.
Products/Services
Some 47% of the portfolio is invested in out of town retail properties, 108 retail warehouses, 94 superstores and Meadowhall Shopping Centre. A further 39% is invested in Central London offices, and office developments, including Broadgate (the premier City office estate).
The development programme comprises a total of over 4,700,000 sq ft (436,500 sq m) confirmed development between now and 2011, including projects such as The Broadgate Tower & 201 Bishopsgate, Ropemaker, Osnaburgh Street and the Leadenhall Building. When completed, these developments could provide an additional £149 million of rent per annum at current rental levels, of which £29 million per annum is already contracted.
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