The Gibraltar Limited Partnership is pleased to announce that Patisserie Valerie has opened its first stand-alone out of town cafe at Fort Kinnaird Shopping Park in Edinburgh.

Patisserie Valerie has opened a 1,438 sq ft unit on a 10 year lease. The deal with Patisserie Valerie follows the recent arrival of Outfit at the park which features Topshop, Topman, Miss Selfridge, Wallis, Dorothy Perkins and Burton.

Dan Clark, Senior Asset Manager for British Land, said: "Patisserie Valerie is an excellent addition to the park. This latest deal is a real testament to the success and appeal of Fort Kinnaird and continues British Land's success in taking retailers out of town for the first time."

The deal is the Gibraltar Limited Partnership's second out of town foray with Patisserie Valerie which also opened an in-store café with Next at Gallagher Retail Park in Cheltenham.

The Gibraltar Limited Partnership is 50% owned by the Hercules Unit Trust (HUT) and 50% owned by the Crown Estate. HUT is advised by British Land and managed by Schroders.

Gibraltar Limited Partnership was advised by Montagu Evans and Eric Young and Co.

Enquiries:
Investor Relations
Sally Jones, British Land 020 7467 2942
Media
Jackie Whitaker, British Land 020 7467 3449
Emma Hammond, FTI Consulting 020 7269 9347
Pip Wood, British Land 020 7467 2942
Gordon Simpson, Finsbury Group 020 7251 3801

Notes to Editors

Hercules Unit Trust
Hercules Unit Trust (HUT) is a Jersey-based closed-ended property unit trust with a fixed life which has been extended to 2020, and is subject to further extension with unit holder consent. HUT's primary investment focus is major retail warehouse or shopping park properties with a value in excess of £20 million in the United Kingdom and, in particular, those properties that dominate their catchment area, offer a critical mass of retailing and, where possible, have the benefit of Open A1 planning consent.

HUT is the UK's largest specialist retail warehouse property unit trust with a portfolio of £1.5 billion. As at 31 December 2013, the Trust owned and managed 19 retail and shopping parks, including Glasgow Fort Shopping Park in Glasgow and 50% of Fort Kinnaird Shopping Park in Edinburgh, providing around 4.5 million sq ft of retail park space.  Key tenants include Next, Boots, Arcadia, Marks & Spencer, Walmart, Kingfisher Group, Dixons, Home Retail Group and New Look.

British Land is HUT's property adviser and Schroder Property Managers (Jersey) Ltd is the Fund Manager.

Schroder Property
Schroders has managed property funds since 1971 and currently has £10.6 (€12.7 /US$17.2) billion of gross property assets under management (at 30 September 2013).

All of the property funds referred to are unauthorised collective investment schemes as defined in the Financial Services and Markets Act 2000. Promotion of these funds is restricted and access to full information about these funds is only available to those exempt from the restriction.

For further information about Schroders' property business visit www.schroderproperty.com

About British Land
British Land is one of Europe's largest Real Estate Investment Trusts (REITs). Through our property and finance expertise we attract experienced partners to create properties and environments which are home to over 1,000 different organisations and receive over 300 million visits each year. Our property portfolio is focused on the UK, in prime retail locations and London offices which attract high quality occupiers committed to long leases. We have total assets in the UK, owned or managed, of £17.1 billion (British Land share £11.2 billion), as valued at 30 September 2013. Our occupancy rate is 97% and average lease length to first break of 11 years.

UK retail assets account for 59% of our portfolio, around 80% of which are located at prime out of town sites. Comprising around 26 million sq ft of retail space across 67 retail parks, 87 superstores, 16 shopping centres and 12 department stores and 77 leisure assets, the retail portfolio is modern, flexible and adaptable to a wide range of formats. Our active asset management delivers space which is attractive and meets the needs of both retailers and consumers.

London offices, located in the City and West End, comprise 39% of the portfolio, which will rise to an estimated 43% on completion of current committed developments. Our 7 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.

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

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