Simon Carter, chief government of British Land Firm PLC (LSE: BLND), sat down for a video interview at Nareit’s REITweek: 2026 Investor Convention in New York, June 1-4.
British Land has reported document leasing exercise of roughly £200 million throughout its London workplace campuses and U.Okay. retail parks, fueled by exceptionally robust occupier demand. In London, workplace demand is operating 50% above the long-term common, supported by a continued return to the office and rising leasing from AI and innovation firms.
With new workplace provide constrained—notably within the Metropolis of London—the corporate expects emptiness to fall under 2%, creating favorable circumstances for rental progress. Though British Land represents about 5% of the London workplace market, it captured 15% of leasing exercise over the previous 12 months, rising to 33% within the fourth quarter, Carter defined.
Retail parks additionally proceed to outperform, benefiting from the “three A’s”—affordability, accessibility, and adaptableness—which make them enticing to retailers supporting omnichannel methods. With occupancy at 99%, rents are rising roughly 5% yearly.
On capital allocation, Carter highlighted retail parks as probably the most enticing acquisition alternative, providing roughly 7% yields with strong rental progress, whereas new workplace growth stays compelling by a “de-risked, capital-light” mannequin utilizing pre-leasing, fixed-price building contracts, and three way partnership companions.
