![]() ![]() It is the largest direct owner and operator of retail park assets in the UK. Landsec also slowed the pace of its re-investment plans due to challenging economic conditions, after reporting a first-half loss.īritish Land was optimistic about demand for its retail parks because of affordable rents and suitability for fulfilling online retail. ![]() Shares of British Land fell more than 2% in morning trade.īritish Land joins its biggest peer Land Securities (LAND.L) in flagging a hit to valuations. The owner of London office spaces such as Broadgate, Regent's Place and Paddington Central, British Land said valuations of its largest portfolio - office assets - fell 2.7% during the half-year period. Nov 16 (Reuters) - Property owner British Land Co (BLND.L) said on Wednesday the rapid rise in borrowing costs had reduced investors' appetite for property acquisitions, leading to a fall in valuations in the first half.Īggressive interest rate hikes to tame inflation and deepening recession worries are seen snuffing out a tentative recovery in the UK commercial property sector from pandemic lows. ![]()
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