• Reuters19 days ago

    British Land CFO Lucinda Bell to leave in April next year

    The company, which owns the Meadowhall shopping centre in Sheffield and office property at Paddington Central in London, said Bell, who joined the board in March 2011 and was appointed CFO in May that year, intends to leave on April 4, 2018. British Land will now start looking for a successor and will make an announcement in due course, it said in a statement. British Land and Land Securities (LAND.L), both large holders of London office property, have seen the value of their assets fall since the country's vote to leave the European Union last year.

  • Reuters - UK Focus19 days ago

    British Land CFO Lucinda Bell to leave in April next year

    British Land Chief Financial Officer Lucinda Bell plans to stand down from the board and leave the company in April next year, the property firm said on Wednesday. The company, which owns the Meadowhall ...

  • Hong Kong firm buys City skyscraper for record £1.3bn
    AFP3 months ago

    Hong Kong firm buys City skyscraper for record £1.3bn

    The 'Walkie Talkie' skyscraper, seen in the centre front of this photo, fetched the e highest price ever paid for a single building in Britain at £1.3 billion (1.5 billion euros, $1.7 billion)

  • Reuters - UK Focus3 months ago

    China's LKK to buy London's "Walkie Talkie" skyscraper

    Chinese herbal health products maker LKK Health Products Group Ltd said on Thursday it would buy the "Walkie Talkie" skyscraper in London from Land Securities Group plc and Canary Wharf Group ...

  • Reuters - UK Focus3 months ago

    Property firm British Land plans 300 mln stg buyback

    British Land (LSE: BLND.L - news) plans to spend up to 300 million pounds ($394 million) to buy back its shares in this financial year, the property developer said on Tuesday, citing limited investment opportunities. The company, which owns the Meadowhall shopping centre in Sheffield and office property at Paddington Central in London, said its shares were trading at a substantial discount to its net asset value, making a buyback a "clear value opportunity".

  • Economy stutters as wage squeeze sees consumers hold back
    Sky News5 months ago

    Economy stutters as wage squeeze sees consumers hold back

    The City's economists had largely been expecting the growth figure for the first quarter to remain unchanged at 0.3%. Another cause for optimism is that business investment appears to have picked up so far this year and that it did not contract during the final three months of last year by as much as previously thought.

  • Reuters - UK Focus5 months ago

    Land Securities warns Brexit uncertainty hitting London office market

    Britain's largest listed property developer Land Securities (LSE: LAND.L - news) warned that Brexit had created business uncertainty in the London office market, leading to falls in demand, rental values and construction commitments. The developer behind London's "Walkie Talkie" skyscraper reported a 1.2 percent fall in adjusted diluted net asset value - a measure of a developer's buildings - to 1,417 pence for the year to March 31. "We won't be sure of the long-term effect of Brexit on our markets for some time....We're taking this time to prepare the business for the opportunities and challenges we see ahead," Chief Executive Robert Noel said in a statement.

  • Reuters - UK Focus7 months ago

    BUZZ-Commercial property firms: top London gainers on Exane BNP Paribas upgrades

    ** UK's biggest commercial property developers British Land and Land Securities lead the FTSE 100 gainers list on upgrades by Exane BNP Paribas ** Post Brexit vote unknowns: plans of London finance tenants ...

  • Deutsche Bank shows faith in post-Brexit City with new HQ plan
    Sky News7 months ago

    Deutsche Bank shows faith in post-Brexit City with new HQ plan

    One of the City's biggest employers is ‎demonstrating its confidence in London's post-Brexit future as a financial centre with a 25-year deal for a new UK headquarters. Sky News has learnt that Deutsche Bank (IOB: 0H7D.IL - news) has signed an agreement with Land Securities (LSE: LAND.L - news) , the FTSE-100 property company, to‎ take a large chunk of a new building being constructed near Moorgate tube station. The move by Deutsche was announced on its staff intranet by Garth Ritchie‎, the bank's UK chief executive and head of its corporate and investment bank, on Thursday afternoon.

  • Reuters - UK Focus7 months ago

    Deutsche Bank signs up new London HQ in show of faith in Brexit Britain

    Deutsche Bank (IOB: 0H7D.IL - news) has chosen a new office for its London headquarters, signalling a vote of confidence in Britain's capital despite the country's decision to leave the European Union. The German lender has entered into exclusive negotiations with developer Land Securities (LSE: LAND.L - news) over a 25-year lease on a new building to be constructed at 21 Moorfields in the City of London, according to a memo sent to staff on Thursday and seen by Reuters. "The move underlines the bank's commitment to the City of London and the importance it attaches to being an employer of choice in the capital," the memo, sent by Garth Ritchie, Deutsche Bank's UK chief executive and head of its corporate and investment bank, said.

  • Reuters - UK Focus9 months ago

    London's Piccadilly Circus lights go off for longest since World War Two

    For the first time since World War Two, the giant illuminated billboards that have lit up London's Piccadilly Circus for over 100 years have been switched off for an extended period, as work starts to replace them. The current six screens on the walls of buildings around the central London junction are making way for a huge, single, curved screen. The first illuminated advert, for French mineral water Perrier, appeared in Piccadilly Circus in 1908.

  • Reuters - UK Focus11 months ago

    British Land turns cautious on office property development

    British Land plans a more cautious approach to new development as uncertainty after the country voted to leave the European Union hit the value of its portfolio of retail and office property in the first half of its financial year. Britain's second-largest listed property developer said that although office occupiers are taking more time to decide on leases since the referendum sent the sector into a tailspin it had not seen any change in demand and leasing activity in its retail business. The comments, alongside those of rival Land Securities on Tuesday, indicate that since the June 23 vote the retail occupier market has outperformed the office rental market, which has been hit hard by concerns that financial firms would move jobs to Europe, hurting rental demand.

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