British Land optimistic as footfall grows

British Land has welcomed a “notable improvement in activity”.

The group said it was able to collect 99% of rents in June from offices as well as see increased footfall in June as restrictions ease.

“With lockdown restrictions lifting, we have seen a notable improvement in activity across our markets and our business is performing well,” said Simon Carter, chief executive of the group.

“On our retail parks, footfall and sales are close to pre pandemic levels, rents are stabilising with recent deals in line with March ERV and there are indications that retail park values are starting to rise as more investors target the market.”

In June, retail sales and footfall were up to 96% and 99% of pre-pandemic levels.

British Land shares are trading 0.62% higher at 523.00 (0824GMT).