British Land to Invest in London Commercial Property

In its report on half-year result to September 30th, British Land - one of the largest real estate investment trusts in the United Kingdom - revealed that its net asset value per share reached 525p, which represents a 4.2% increase.

The company also confirmed that it plans to invest £1.5 billion in development of commercial property sites in the capital of Great Britain.

As such, 1.5 million square feet of elite office buildings are expected to be constructed in the City of London (Bishopgate, Broadgate and Leadenhall streets). Additional 600,000 square feet of commercial property will be created in the West End (Regent's Place and Baker Street).

Commenting on the move, Mr. Grigg of British Land said that "at £1.5 billion we have committed to London's largest office development programme, focused on the City and West End, which is timed for delivery when we believe strong demand and supply constraints will coincide."

More information about the investment is available at the website of British Land or from the company’s representatives.