Sales and footfall up at British Land
Published: 19 January, 2017
Trading update shows portfolio outperforming benchmarks
British Landís third quarter trading statement, showed retailer sales up 0.6% year on year, outperforming the benchmark by 200 bps. Footfall for the quarter was down 0.6% year on year, outperforming the benchmark by 220 bps
During the quarter 314,000 sq ft of retail lettings and renewals were secured on average 8.7% ahead of ERV; with a further 189,000 sq ft under offer.
Chief executive Chris Grigg said: "British Land has had a positive quarter reflecting the strong positioning of our portfolio and our engagement with occupiers and consumers. Retail footfall and sales growth continue to outperform industry benchmarks and we have made further disposals of non-core assets and residential units ahead of valuation. The business is well placed; we remain mindful of potential headwinds going forward."