British Land announces today that 18,534 sq ft has been let to hedge fund Arrowgrass Capital Partners at 10 Portman Square. They will occupy the whole of the third floor in the building.

10 Portman Square provides 113,700 sq ft of Grade A office space over seven floors. The letting, with Arrowgrass Capital Partners joining existing occupiers Aramco and Aspect Capital, means the building is now 70% let.

Designed by award-winning architecture and interior design practice Jestico+Whiles, 10 Portman Square boasts a dramatic curved roof and dichroic fins which reflect light and animate the building's exterior. The building offers column-free floorplates of 18,500 sq ft which, due to it being an island site, benefit from natural light on all four sides.

10 Portman Square, when completed last year, was part of British Land's successful 2010 Development Programme comprising 2.7 million sq ft principally in London. With 76% of the space already let or under offer, the well timed development programme has already generated £608 million of profit to date with a further £45 million estimated to come.

James Danby, Director of London Leasing, British Land, said: "Arrowgrass Capital Partners is the type of high-calibre occupier we envisaged at 10 Portman Square when we launched the space less than a year ago.

"We are seeing strong demand for the remaining space at the building, which is driven by the combination of a prestigious address, exceptional interior design and finishes, and an accessible location on the edge of Mayfair."

Knight Frank and JLL represented British Land. CBRE represented Arrowgrass Capital Partners.

For more information on 10 Portman Square please visit www.10portmansquare.com

Enquiries:
Investor Relations
Sally Jones, British Land 020 7467 2942
Media
Giles Barrie, FTI Consulting 020 3727 1042
Andrew Scorgie, FTI Consulting 020 3727 1458

About British Land
We are one of Europe's largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality commercial property, focused on retail locations around the UK and London Offices & Residential. We have total assets in the UK, owned or managed of £17.8 billion (British Land share of which is £12.0 billion), as valued at 31 March 2014. Our properties are home to over 1,000 different organisations and receive over 300 million visits each year. Our objective is to deliver long-term and sustainable total returns to our shareholders and we do this by focusing on Places People Prefer. People have a choice where they work, shop and live and we aim to create outstanding places which make a positive difference to people's everyday lives. Our customer orientation enables us to develop a deep understanding of the people who use our places. We employ a lean team of experts, who have the skills to translate this understanding into creating the right places, and we have an efficient capital structure which is able to effectively finance these places.

UK Retail assets account for 53% of our portfolio. As the UK's largest listed owner and manager of retail space, our portfolio is well matched to the different ways people shop today, from major regional shopping centres to single occupier locations. We are focused on being the destination of choice for retailers and their customers by being the best provider of spaces and services. Comprising around 25 million sq ft of retail space across 66 retail parks, 85 superstores, 15 shopping centres, 12 department stores and 77 leisure assets, the retail portfolio is modern, flexible and adaptable to a wide range of formats.

Our Office and Residential portfolio, which accounts for 47% of our portfolio is focused on London. We have an attractive mix of high-quality buildings in well-managed environments and a pipeline of development projects which will add significantly to our portfolio. Increasingly, our offices are in mixed-use environments which include retail and residential elements. Our 7.3 million sq ft of high quality office space includes Regent's Place and Paddington Central in the West End and Broadgate, the premier City office campus (50% share).

Our size and substance demands a responsible approach to business. We believe leadership on issues such as sustainability helps drive our performance and is core to the delivery of our overall objective of driving shareholder value and creating Places People Prefer.

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

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