INDUSTRY NEWS

British Land’s lettings rise

British Land, one of the largest property developers and investors in the country, have announced they have secured almost half a million square feet of new lettings since February. In total, tenants have taken up 465,000 square feet of new space in the last two months.

The lettings comprise a slew of high-profile deals. Australian bank Macquarie took over 200,000 square feet of London office space at the Ropemaker Place development; market research firm Aegis Group signed for a further 100,000-plus square feet at 10, Triton Street – the entire building.

British Land’s portfolio is now more than 90 percent let, with an average of nine years before clients have a chance to change landlord. The company’s rising fortunes have been reflected in its share price, which currently stands at 490p and has risen over ten percent since the beginning of February – and 40 percent since its lows exactly a year ago.