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British Land sees losses soar to over £1bn

Christian Fernsby ▼ | May 28, 2020
British Land recorded an £800 million increase in losses last year after the coronavirus forced many offices and retailers to close their doors.
British Land
British Land   The company has taken a large financial hit
British Land has taken a large financial hit in recent months, with 40 per cent of retail customers having had their rent deferred, costing them about £35million in total.

Topics: British Land

It also blamed 'ongoing structural challenges' for causing the value of its overall retail portfolio to fall by around a quarter to £3.87billion in the year to March 31. Its Offices portfolio, however, remained strong, rising 2.3 per cent to £6.77billion.