British Land looks to sell Euro assets
The group, whose UK interests include stakes in Edinburgh’s Fort Kinnaird and Glasgow Fort shopping parks, said its mainland European properties accounted for a small part of its £10.5 billion portfolio.
However, the European assets fell by 17 per cent in value in the year to March, hit by rental concessions and widening yields.
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Hide AdChief executive Chris Grigg said: “We consider Europe to be a subscale business for us and our intention is to exit over time.”
The company, which is building the Cheesegrater skyscraper in the City of London, said its full-year profit before tax increased by 1.9 per cent to £274m. The full-year dividend is hiked by 1.1 per cent to 26.4p.