Only £100bn to go…

18 May 2010 By George Hay Follow @gfhay

The UK commercial property company’s assets soared 13.5 pct in value last year. The rise has raised hopes that RBS and Lloyds will be able to sell down their 100 bln pounds of exposure. But the chasm in quality between the best stock and the banks’ holdings will hold them back.

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Context News

British Land's property portfolio increased in value by 13.5 percent to 8.5 billion pounds in 2009, the UK property company revealed on May 18.

The firm's net asset value per share rose 27 percent to 504 pence, compared to analysts' expectations of 468 pence.

British Land warned the economic recovery remained fragile. It expects real estate performance in 2011 to be "relatively muted", with the market "continuing to polarise between prime and secondary assets in both the occupational and investment markets".

UK average property values have risen 14 percent from their low point in July, after a 43 percent slump during the financial crisis. However, the most recent monthly rise was 0.8 percent in April, half the rise recorded in March.

British Land shares were up 4.4 percent to 452 pence by 1330 GMT on May 18.

British Land results

Context News

British Land's property portfolio increased in value by 13.5 percent to 8.5 billion pounds in 2009, the UK property company revealed on May 18.

The firm's net asset value per share rose 27 percent to 504 pence, compared to analysts' expectations of 468 pence.

British Land shares were up 4.4 percent to 452 pence by 1330 GMT on May 18.

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