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Last 874.50 GBp
Change Today +12.00 / 1.39%
Volume 3.0M
BLND On Other Exchanges
Symbol
Exchange
London
OTC US
OTC US
Frankfurt
As of 11:35 AM 05/27/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

York House

45 Seymour Street

London, W1H 7LX

United Kingdom

Phone: 44 20 7486 4466

Fax: 44 20 7935 5552

The British Land Company PLC, a real estate investment trust (REIT), engages in managing, financing, and developing commercial property in the United Kingdom. The company invests in retail warehouses, superstores, shopping centers; high street, and London offices. Properties OUT-OF-TOWN RETAIL Retail warehouse portfolio: The company’s retail warehouse portfolio includes 108 retail warehouse properties, of which 79 retail parks with a total of 1,414 units; and 29 solus units. The total floor area includes 15.9 million square feet. Its major tenants include Arcadia; Argos; Asda/Asda Living; B&Q; Bhs; Blacks Boots; Borders; Carpetright; Comet; Currys; DFS; Gap; Halfords; Homebase; Instore; JJB Sports; Mamas & Papas; Marks & Spencer; Matalan; Morrisons; Mothercare; New Look; Next; PC World; Pets At Home; River Island; Sainsbury’s; Sports World; Tesco; TKMaxx; Toys R Us; Virgin; WH Smith and Zara. Teesside shopping park, Stockton-on-Tees: This freehold property is located at the intersection of the A66 and A19 trunk roads between Stockton-on-Tees and Middlesbrough and comprises: 342,000 sq ft of open A1 retail space arranged in 33 units, on a site of 47 acres; an 8.1 acre site located on the park’s principal access comprises two retail units totalling 42,000 sq ft and four restaurant units totaling 14,930 sq ft; and an 8,000 sq ft retail unit and the reversionary interest in the adjoining unit, plus a 27 acre site which may be considered for future development. The Kingston Centre, Kingston, Milton Keynes (50% owned in Tesco BL Holdings joint venture): The Kingston Centre occupies a freehold 35 acre site, close to junctions 13 and 14 of the M1motorway and provides a total of 247,000 sq ft of open A1 retail space. The Centre includes: a 140,600 sq ft Tesco Extra superstore; eight retail warehouses totaling 92,900 sq ft, let to tenants, including Boots, Mothercare, Next, Marks & Spencer and Mamas & Papas; a covered shopping mall with 12 units totaling a further 9,200 sq ft; a drive-thru McDonald’s; a pub; a car showroom; and units let to Domino’s Pizza and Carphone Warehouse. New Mersey shopping park, Speke (HUT): A freehold part open A1/part-restricted planning consent shopping park of 481,000 sq ft in 31 units and two restaurants. Key tenants include Boots, Borders, B&Q, Mothercare, Gap, Next, Marks & Spencer, River Island and New Look. Glasgow Fort, Glasgow (HUT): A long leasehold open A1park of 387,500 sq ft in 60 units (plus kiosks). Key tenants include Boots, Zara, Oasis, River Island, Next, Topshop, Starbucks, Argos, Mamas & Papas, and New Look. Parkgate shopping park, Rotherham (HUT): A freehold open A1park of 561,500 sq ft. There are a total of 40 retail units and a 95,000 sq ft Morrisons foodstore. Key tenants include: Next, Matalan, Marks & Spencer, Boots, TKMaxx, Bhs, New Look, Arcadia, WH Smith, Homebase, Argos, and River Island. Fort Kinnaird shopping park, Edinburgh (HUT): A long leasehold open A1shopping park of 548,000 sq ft in 49 units, four food outlets, two leisure outlets and factory and office space of 91,000 sq ft. Key tenants include: Borders, HMV, Marks & Spencer, Next, H&M, Gap, and New Look. Homebase DIY stores: The portfolio of Homebase stores comprises 12 properties. Located mainly in the South East of England consists of total floor area of 469,000 sq ft. Nueva Condomina shopping centre, Murcia, Spain: A prime regional two storey shopping centre and retail park, together with a multiplex cinema and hypermarket, totaling 1.3 million sq ft. Tenants include the Inditex brands, Primark, H&M, FNAC, and an Eroski hypermarket. Superstores portfolio: The company’s Superstores portfolio includes 94 superstores located across England, Wales and Northern Ireland. Its total floor area includes 6 million square feet. Its total site area includes 542 acres. Its tenants include Morrisons/Safeway (2 stores); Sainsbury’s (41stores); Somerfield (15 stores); Tesco (35 stores); and Waitrose (1store). Its new joint venture, BL Sainsburys Superstores Limited, was formed in March 2008 and included 39 superstores across the U.K. In addition to the superstores portfolio, the company

 

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Industry Analysis

BLND

Industry Average

Valuation BLND Industry Range
Price/Earnings 5.7x
Price/Sales 15.0x
Price/Book 1.1x
Price/Cash Flow 5.3x
TEV/Sales 15.0x
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