Summary report due in June 2008. Reserve your copy

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British Land is the UK’s second largest Real Estate Investment Trust (REIT) with total assets owned or under management of £17.9 billion, as at 31 March 2008.

The hallmark of the business is a focus on customers leading to a portfolio of approximately 500 investment properties in prime locations around the UK and, a newer activity, in Western Europe. In total we provide some 3.3 million m² (36 million sq ft) of space to occupiers.

We target high quality assets in prime locations with strong occupiers. Focused on the London office and out of town retail sectors, 98% of the portfolio is UK based, with the remainder in mainland Europe. Our properties have the longest leases (average 14.7 years) and the highest occupancy rates (99%) of the major UK REITs.

Retail assets account for 57% of the portfolio, 80% of which is in prime out of town locations. Offices account for 41% of the portfolio, of which 99% is in central London. A 420,000 m² (4.5 million sq ft) office and retail development pipeline complements these holdings.

Active management of these assets, purchases and sales, and an extensive development activity, tailor the property holdings to meet the needs of occupiers and the communities of which they form part.

We have a proactive management style, focused on meeting our occupiers’ changing occupational needs. Our management team of 87 people is responsible for managing our key contacts and 2,000 suppliers. By keeping a relatively small head office team and outsourcing functions we are able to focus on making rapid, well informed decisions to deliver value for our shareholders and customers.

Sustainability is at the core of our business, with community engagement and resource management considered during acquisition, planning, refurbishment, development and asset management. We aim to provide attractive buildings that minimise resource use and meet the needs of occupiers now and in the future. Our corporate responsibility strategy, Building Together is how we deliver this.

 

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