British Land posts higher half-year profit from retail park investments

21 Nov 2024 CW Team

Commercial property firm British Land reported a slight rise in its half-year profit on Wednesday, attributing operational strength in its retail park properties to counteracting valuation weakness in its office-focused campuses. The British commercial property market is recovering from the post-pandemic freeze, with stabilizing property values and expectations of near-term rate cuts boosting sector optimism.

According to British Land CEO Simon Carter, the group's strategy of increasing investments in retail parks is proving successful. He noted that retailers are seeking cost-effective out-of-town spaces for their online operations, which is driving strong rental growth and valuation increases in the sub-sector.

The company, which blends leisure, retail, and hospitality facilities at its office-focused 'Campus' developments, stated that its EPRA Net Tangible Assets—a key measure reflecting the value of its buildings—increased by 0.2 per cent, reaching 567 pence as of September 30, compared to the valuation at the end of March. It reported that the value of its retail park assets, which make up about a third of its overall portfolio, rose by 5.1 per cent since March, while the office-focused Campuses experienced a 1.7 per cent decline in valuation.

Following the accretive $560.2 million retail park portfolio acquisition and a share placement last month, the company raised its full-year earnings per share forecast to 28.1 pence, up from the previous estimate of 27.9 pence.

Real Estate

29 Jun 2026

Omaxe to Invest Rs 62 Billion in Hospitality Expansion

Omaxe has announced the launch of a dedicated hospitality business vertical with plans to develop 19 hotels across five states over the next four to five years as part of its strategy to strengthen recurring revenues and expand its integrated development ecosystem.The real estate developer proposes to invest approximately Rs 62 billion, subject to regulatory approvals and market conditions, to develop nearly 5 million sq ft of hospitality assets across high-growth urban centres, pilgrimage destinations and transit corridors.The proposed portfolio will be integrated with Omaxe's existing townsh..

Third Railway Line Between Tatanagar And Adityapur Likely By September

The third railway line between Tatanagar and Adityapur is expected to be commissioned by September as work on the corridor advances, according to railway sources. The project to add a fourth line on the busy route is progressing and has been allocated Rs 50.89 billion (bn) in funding. The allocation underscores the focus on increasing capacity and easing congestion on the corridor. Relevant timetables are being adjusted to integrate the new capacity into regular operations. Construction activity has involved track laying, formation work and signalling upgrades along strategic stretches, with m..

Indian Railways Approves Rs 2.7 bn Kavach Rollout in Odisha

Indian Railways has approved a Rs 2.7 billion (Rs 2.7 bn) plan to install the Kavach train collision avoidance system on 631 route kilometres in the East Coast Railway zone. The Ministry of Railways said the work will form part of a wider Kavach deployment programme that relies on an LTE based communication backbone rather than a standalone installation. The approval marks the latest stage in the steady expansion of the indigenous safety technology across the national network. The decision aims to enhance safety and reliability on corridors serving Odisha and adjoining areas. The project will ..