British Land let more than 400,000 sq ft and sold £119m of assets during its third-quarter 2016 trading period.
In a trading statement the company said it let 314,000 sq ft of retail space, 8.7% up on ERV, while its 51,000 sq ft of office lettings were in line with ERV.
It completed £119 of disposals in the quarter. Of this, retail and office disposals accounted for £85m, which was 2% up on book value.
Its £34m of residential disposals at locations including Aldgate Place and Clarges Mayfair were 10% ahead of valuation.
Enabling works have begun on BL’s redevelopment of 520,000 sq ft 100 Liverpool Street, EC2.
Retail accounts for 49% of British Land’s portfolio, offices and residential 49%, while the remaining 2% is held at its 46 acres at Canada Water.
Chief executive Chris Grigg said: “Retail footfall and sales growth continue to outperform industry benchmarks and we have made further disposals of non-core assets and residential units ahead of valuation.”
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