BAA is embarking on a big expansion of its property business. This could see investment in rented office space and other airline-related buildings quadruple to £400m over the next three years. Property accounts for 30% of BAA earnings.
It is considering another option which is a flotation of its discount shopping centre operation which it jointly owns with McArthur-Glen. It has three more centres in the pipeline in the UK.
- The Independent (People & Property) 14/05/97 page 18
