British Land Co PLC British Land Cheques Metro Bank into Orpington
September 02 2014 - 2:01AM
RNS Non-Regulatory
TIDMBLND
British Land Co PLC
02 September 2014
2 September 2014
British Land Cheques Metro Bank into Orpington
British Land is pleased to announce that Metro Bank has signed
for a 5,300 sq ft unit on a 25 year lease at Nugent Shopping Park
in Orpington.
The bank, which is due to open in November, will be the
company's second in Kent and the first in British Land's current
portfolio. The deal makes good use of the relaxation in planning
policy earlier in the year permitting change of use from retail A1
to A2.
The signing follows recent lettings at the park to Card Factory
and pop up restaurant concept Pizza1889.
Edward Cree, Senior Asset Manager for British Land, said: "Metro
Bank is an excellent addition to Nugent Shopping Park's mix and
will be a welcome community amenity, providing consumers with a
seven day banking facility to meet their busy schedules. The
letting is part of our continued focus on creating well managed
environments with a broad, convenient and high quality tenant line
up."
Nugent Shopping Park is a 115,000 sq ft purpose-built 22-unit
scheme with 363 car park spaces. Occupiers include Debenhams,
M&S, Next, Clarks, Hobbycraft, Waterstones, Nando's and
Costa.
British Land was represented by Wilkinson Williams. Metro Bank
represented itself.
ENDS
Enquiries:
Investor Relations
Sally Jones, British Land 020 7467 2942
Media
Jackie Whitaker, British Land 020 7467 3449
Emma Hammond, FTI Consulting 020 3727 1227
Pip Wood, British Land 020 7467 2942
Gordon Simpson, Finsbury Group 020 7251 3801
Notes to Editors
About British Land
We are one of Europe's largest publicly listed real estate
companies. We own, manage, develop and finance a portfolio of high
quality commercial property, focused on retail locations around the
UK and London Offices & Residential. We have total assets in
the UK, owned or managed of GBP17.8 billion (British Land share of
which is GBP12.0 billion), as valued at 31 March 2014. Our
properties are home to over 1,000 different organisations and
receive over 300 million visits each year. Our objective is to
deliver long-term and sustainable total returns to our shareholders
and we do this by focusing on Places People Prefer. People have a
choice where they work, shop and live and we aim to create
outstanding places which make a positive difference to people's
everyday lives. Our customer orientation enables us to develop a
deep understanding of the people who use our places. We employ a
lean team of experts, who have the skills to translate this
understanding into creating the right places, and we have an
efficient capital structure which is able to effectively finance
these places.
UK Retail assets account for 53% of our portfolio. As the UK's
largest listed owner and manager of retail space, our portfolio is
well matched to the different ways people shop today, from major
regional shopping centres to single occupier locations. We are
focused on being the destination of choice for retailers and their
customers by being the best provider of spaces and services.
Comprising around 25 million sq ft of retail space across 66 retail
parks, 85 superstores, 15 shopping centres, 12 department stores
and 77 leisure assets, the retail portfolio is modern, flexible and
adaptable to a wide range of formats.
Our Office and Residential portfolio, which accounts for 47% of
our portfolio is focused on London, We have an attractive mix of
high--quality buildings in well--managed environments and a
pipeline of development projects which will add significantly to
our portfolio. Increasingly, our offices are in mixed-use
environments which include retail and residential elements. Our 7.3
million sq ft of high quality office space includes Regent's Place
and Paddington Central in the West End and Broadgate, the premier
City office campus (50% share).
Our size and substance demands a responsible approach to
business. We believe leadership on issues such as sustainability
helps drive our performance and is core to the delivery of our
overall objective of driving shareholder value and creating Places
People Prefer.
Further details can be found on the British Land website at
www.britishland.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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