British Land : Placemaking draws occupiers for British Land

01 Jun 2018

British Land's investment in placemaking at Mayflower, Basildon has helped secure new occupiers to the centre. Since acquisition in 2011, £10 million have been invested in the physical environment alone, enhancing the design of the stores, the landscaping and public realm. It has also involved reconfiguring existing units to create smaller shops, strengthening the retailer mix to offer customers a great range of reasons to visit the centre.

In the last year there have been seven new lettings at the centre representing 70k sq. ft. of space, with the final opening due this summer. New retailers joining the scheme include River Island, Clarks, Tapi Carpets and Fabb Sofas, whilst Harveys has relocated to a new unit. Superdrug opened this month and Greggs will open a new bespoke pod this summer.

Ben Grose, Head of National Leasing, British Land said: 'Mayflower, Basildon is a prime example of how British Land invests in its assets to drive growth and returns through our placemaking, asset management and development expertise. Mayflower offers convenience-led shopping for local communities with a strong occupier line up spanning fashion, furniture and catering.'

Mayflower, Basildon has a total catchment of around 750,000 people and an annual estimated footfall of 3 million. Other retailers at Mayflower include M&S Simply Food, Nandos, Next and Boots.

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Notes to Editors

About British Land

Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £18.2 billion (British Land share: £13.7 billion) as at 31 March 2018 making us one of Europe's largest listed real estate investment companies.

Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles - Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.

Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 53 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.

Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being awarded a five star rating in the 2017 Global Real Estate Sustainability Benchmark for the second year running.

In April 2016 British Land received the Queen's Award for Enterprise: Sustainable Development, the UK's highest accolade for business success for economic, social and environmental achievements over a period of five years.

Further details can be found on the British Land website at www.britishland.com

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