British Land bolsters retail park portfolio with £441m acquisition [Yahoo! Finance]
BRITISH LAND CO S/ADR (BTLCY)
NASDAQ:AMEX Investor Relations:
britishland.com/investors
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Source: Yahoo! Finance
expansion of its retail park portfolio with the acquisition of seven retail parks from Brookfield Asset Management for a total of £441m ($578.4m), the Times reported. The company plans to fund the acquisition in part through a proposed equity placing of approximately £300m, reflecting its strong confidence in the long-term growth prospects of retail parks. British Land has been strategically investing in retail parks since 2021, recognising their unique appeal to both retailers and consumers. The company's CEO, Simon Carter, highlighted the three key advantages of retail parks: affordability, adaptability, and accessibility. Retail parks offer lower rental rates compared to traditional retail spaces, allowing retailers to operate more efficiently. Meanwhile, flexible layouts and ample parking make them ideal for click-and-collect services and last-mile delivery operations. The seven newly acquired retail parks are currently 99% let, underscoring their strong tenant demand
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