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Norges ups stake in British Land

Norges has increased its stake in British Land to 6.4%, from 5%.

The move comes despite the REIT posting a pretax loss of £730m and a 7.3% drop in the value of its portfolio to £10.3bn in its latest half-year results.

The Norwegian bank has also recently upped its ownership in two other London-focused listed property firms.

It has increased its holding in Great Portland Estates from 12.1% to 13% and also now owns just over 9% of Derwent London, up from 8.3%.

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