British Land Co PLC Pre-Let Extension at Clifton Moor Shopping Park
August 13 2014 - 2:01AM
RNS Non-Regulatory
TIDMBLND
British Land Co PLC
13 August 2014
British Land and Tesco Fully Pre-Let Extension at Clifton Moor
Shopping Park
British Land and Tesco are pleased to announce that they have
fully pre-let the new GBP19 million extension at Clifton Moor
Shopping Park in York, increasing the occupancy and value of the
park.
-- Wren Living is to open a 16,900 sq ft store on a 10 year lease
-- DFS will open 15,000 sq ft on a 15 year lease
-- Harvey's is taking 14,500 sq ft on a 10 year lease
-- Oak Furniture Land secures 8,000 sq ft on a 10 year lease
-- JYSK has relocated and is taking 7,500 sq ft on a 10 year lease
The extension provides five new high quality units that enhance
the attraction of the park to both retailers and shoppers alike.
Planning consent has been obtained and works are on site, the
extension is due to open in autumn 2014. In addition to the
extension, a new cycle path is to be installed by the City of York
Council to link the park with the surrounding residential and
leisure provisions, to further aid connectivity along Stirling
Road.
Duncan Reader, Asset Manager for British Land, said: "The
extension at Clifton Moor Shopping Park is part of our ongoing
improvement works across our UK portfolio. We are delighted to have
fully pre-let the space and to expand our relationship with a
number of well-established operators. The new development enhances
the visibility of the park, enables the upgrading of common areas
and provides high quality units to meet consumer demand."
British Land was represented by Wilkinson Williams.
ENDS
Enquiries:
Investor Relations
020 7467
Sally Jones, British Land 2942
Media
Jackie Whitaker, British 020 7467
Land 3449
020 3727
Emma Hammond, FTI Consulting 1227
020 7467
Pip Wood, British Land 2942
Gordon Simpson, Finsbury 020 7251
Group 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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