British Land retail property portfolio haemorrhages tenth of value

Meadowhall shopping centre Sheffield

British Land is the latest institutional landlord to suffer as the high street malaise reduced its retail property portfolio values by a tenth.

The landlord reported that its retail property portfolio shed nearly £600m in value in the six months to September, as the ongoing travails facing the high street took its toll.

The value of British Land’s shopping centres, retail parks and stores fell 10.7% to £4.8bn, which dragged the business to a pre-tax loss of £440m, a £42m loss on the same period a year earlier.

British Land, which owns shopping centres such as Sheffield’s Meadowhall, sold £236m of retail assets during the period, including £194m worth of Sainsbury’s supermarkets.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.