British Land [Pounds]1.3bn in Red but Still 'in a Position of Strength' ; Property

Summary

---

CITY office blocks giant British Land has plunged [pounds]1.3 billion into the red as the crash in property values continues to ravage the sector.

However, the group trumpeted news that the City offices market is not completely dead, saying it has signed up a tenant to fill a third of its new 500,000-square-foot Ropemaker Place scheme at Moorgate with speculation in the City that it may be taken by Nomura and its newly acquired ex-Lehman Brothers staff, formerly housed at Canary Wharf.

See the full content of this document

Extract

---

British Land [Pounds]1.3bn in Red but Still 'in a Position of Strength' ; Property

British Land said underlying profits from letting...

See the full content of this document

---