British Land has posted a 10.9% uplift in its NAV for the full year to the end of March 2016.
The rise takes the REIT’s total portfolio to £14.6bn from £13.6bn in March last year.
Rising values helped push British Land’s profit to £363m, up 16% on 2015.
Across the portfolio, valuations were up 6.7% with developments rising strongly in value by 9.4%.
The offices and residential sector was the fastest growing, up 11.8% to £7bn, and retail up 2.4% to £7.3bn.
The Canada Water development, British Land’s next major project, saw an uplift of 1.7% to £283m.
Over the period, British Land sold £420m of assets with investment activity totalling £636m.
The estimated rental value across the portfolio was up 2.4% but lettings and renewals versus the figure was up 8%.
Occupancy in the portfolio stood at 99% at the end of the financial year.
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