FINANCE: Strong retail and office occupational levels helped British Land to record a robust third quarter to 31 December 2014.
The REIT said it completed 168,000 sq ft of office lettings and renewals in the three months, boosted by technology tenants, which accounted for 43% of the deals.
The group also saw 70% of its Cheesegrater skyscraper, EC3, let or under offer.
In its retail division, 269,000 sq ft of lettings or renewals were completed.
Some £220m of sales ahead of valuation since the start of Q3 were also undertaken, including £55m of superstore sales.
Total asset sales in the nine months to 31 December reached £900m, including residential properties.
British Land’s debt dropped by £200m to £4.5bn in the quarter, and its dividend stood at 6.92p per share, up 2.5% on the same period in 2013.
Chief executive Chris Grigg said: “It has been another good period for our business: we are leasing well, making progress with developments and have continued to take advantage of strong investment markets to recycle capital.”
