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Commercial property boom buoys British Land's net asset value

Published 18/11/2014, 07:24
Commercial property boom buoys British Land's net asset value
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(Reuters) - British Land Company Plc, Britain's second-largest listed property developer, reported on Tuesday a 11.8 percent rise in half-year net asset value, enjoying the benefits of London's commercial property boom.

The developer of London's "Cheesegrater" skyscraper said it expected demand for office spaces in London to remain strong, as the pipeline of new space remains constrained.

EPRA net asset value per share - a key measure for developers as it reflects the value of their buildings - rose to 769 pence in the six months ended Sept. 30, from 688 pence a year earlier, British Land said.

(Reporting by Esha Vaish in Bangalore; Editing by Sunil Nair)

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