Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
British Land has reaffirmed its guidance for underlying earnings per share (EPS) of at least 30.5 pence for FY27, supported by continued strong leasing activity across its core portfolio. The company said demand continues to exceed supply at its campuses and retail parks, with new leasing deals being signed at rents above previous levels. It also reported a positive start to the financial year, building on momentum from the previous fiscal year. The update reflects confidence in the company's operational performance and rental growth outlook across its major real estate markets.
British Land has reiterated its guidance for FY27 underlying earnings per share (EPS) of at least 30.5 pence, stating that strong occupier demand and sustained leasing activity continue to support its earnings outlook. The company said it has started the new financial year on a positive note, with momentum carrying forward from the end of the previous financial year.
The real estate company said demand continues to outpace supply across its campus developments and retail parks, allowing it to secure leasing agreements at rents above previous passing rents. It added that the strength in occupational demand across its core markets has reinforced confidence in its business outlook for FY27.
According to the company's latest trading update, British Land completed leasing transactions covering approximately 567,000 square feet during the opening period of the financial year. The company also has around 1.1 million square feet of additional space currently under offer, indicating a healthy leasing pipeline. It expects like-for-like net rental growth to remain at the top end of its target range of 3% to 5% during FY27, which will support its earnings guidance.
The reaffirmed guidance follows the company's strong FY26 performance, when British Land reported underlying EPS of 28.9 pence and upgraded its FY27 earnings outlook to at least 30.5 pence after completing the acquisition of Life Science REIT. The acquisition is expected to contribute additional earnings over the coming years as newly developed space is leased and rental income grows.
British Land has maintained that continued rental growth, disciplined cost management and healthy demand across its London campuses, retail parks and other core assets provide good visibility for earnings growth despite broader economic uncertainty. The company also continues to expect estimated rental value (ERV) growth of 3% to 5% annually across its portfolio.
Source Reuters
Advertisement
Facebook
Whatsapp
