Property developer British Land is gearing up to start new retail developments for the first time since the recession.
British Land said that management expects to “commence work later in the year on a number of schemes”.
Many developers’ schemes were shelved when the recession kicked in, leaving a limited pipeline of new retail space.
British Land chief executive Chris Grigg told The Daily Telegraph: The headlines from the retailers are tough, but they are prepared to go to the right places. As rents improve we will do more developments that we are at the moment and British Land has done in the past. If you are in the right positions, retail outperforms every time.”