British Land Co PLC Statement Regarding The Leadenhall Building
November 05 2014 - 12:28PM
RNS Non-Regulatory
TIDMBLND
British Land Co PLC
05 November 2014
Statement Regarding The Leadenhall Building
Two steel bolts have recently broken on The Leadenhall Building,
British Land and Oxford Properties' asset at 122 Leadenhall Street
in the City of London. No one was injured in either incident and
there is no risk to the structural integrity of the building.
Public safety is our priority so we have taken a number of
precautionary measures:
A full investigation is being conducted by contractor Laing
O'Rourke and structural engineers Arup. An examination is being
undertaken of the remaining bolts. An area has been cordoned off
around the base of the building while this process is ongoing. The
Building Control Department has been notified.
An update will be provided as soon as we are able.
Notes to editors
-- Two bolts are known to have broken.
-- The bolts connect the nodes on the megaframe, but the design
of the structure allows for isolated events of this type and do not
affect the structural integrity of the building.
-- One part of one of the bolts that broke became dislodged and
fell to the ground at the side of the building within the hoarding
line.
Enquiries:
Investor Relations
Sally Jones, British Land 020 7467 2942
Media
Pip Wood, British Land 020 7467 2838
Gordon Simpson, Finsbury Group 020 7251 3801
Charlotte Whitley, Finsbury
Group 020 7251 3801
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 GBP17.6 billion (British Land share of
which is GBP11.9 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% (pro forma for developments at
estimated end value) 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 63 retail parks, 82
superstores, 14 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%
(pro forma for developments at estimated end value) 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
About Oxford Properties
Oxford Properties is one of the world's leading real estate
companies. A global platform for real estate investment,
development and management, with over 1,700 employees and
approximately $27 billion of real assets that it manages for itself
and on behalf of its co-owners and investment partners. Established
in 1960, Oxford was acquired in 2001 by OMERS, one of Canada's
largest pension funds with over $65 billion in assets. Oxford has
regional offices in Toronto, London and New York, each with
investment, development and management professionals who have deep
real estate expertise and local market insight. For more
information visit www.oxfordproperties.com
This information is provided by RNS
The company news service from the London Stock Exchange
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