UK property company British Land is “well-positioned” in a challenging market, its Head of Retail Charles Maudsley said today.
The firm, which is the largest quoted retail landlord in the UK, has £9.9 billion of assets under management and attributes that achievement to flexible retail real estate.
“We are looking forward to the opportunity to highlight the strengths of our retail business, how it is well-positioned both today and for the future,” Maudsley commented.
“The strength of our offer combined with our quality occupier base and high occupancy means we believe we are well positioned in a market which is clearly becoming more challenging.”
His comments come ahead of a second analyst and investor event that the company is holding in Glasgow today, focusing on its property portfolio.
Following a similar gathering in London last month, the day will include presentations from senior members of the business and focus on structure and how the group is managed to deliver superior total returns, in line with its strategy.
In August, the real estate firm reported profits before tax growth of £65 million in its first quarter, a 1.6 per cent increase year-on-year.
The three-month period ending June 30th 2011 saw the company’s UK retail sites grow 4.9 per cent in value compared to the same quarter in 2010, and Maudsley believes that these results are a reason to remain positive.
“We’ve seen continued demand for space although it is taking a little longer to get deals concluded,” he explained.
“Looking further forward, we expect to benefit from a shortage of high quality space when the economy starts to improve.”