British Land has reported on a ‘positive’ third quarter in which it said footfall and sales growth continued to outperform industry benchmarks and it disposed of more non-core assets.
The group reported 314,000 sq ft of retail lettings and renewals, 8.7% ahead of ERV; with a further 189,000 sq ft under offer.
There were £119m disposals exchanged in the quarter including £85m of non-core retail and office disposals - 2% ahead of September 2016 valuations.
Chris Grigg, Chief Executive said: “British Land has had a positive quarter reflecting the strong positioning of our portfolio and our engagement with occupiers and consumers. We have completed over 400,000 sq ft of lettings across the business and are progressing discussions with a broad range of occupiers. 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.”
