British Land : Secures 50,000 sq ft of Deals with Outfit

British Land announces that it has agreed separate deals with Outfit totalling 50,000 sq ft across four of its retail parks.

The Arcadia fascia is taking 12,500 sq ft at both Mayflower Retail Park in Basildon, where it will move into the unit that was previously occupied by Next before its expansion at the park, and Orbital Shopping Park in Swindon, and has re-geared leases at Teesside Shopping Park in Stockton-on-Tees (15,000 sq ft) and Fort Kinnaird Shopping Park in Edinburgh (10,000 sq ft). These leases have all been taken for a period of 10 years and all of the stores have trading mezzanines.

Outfit further boosts the fashion choice for customers across the British Land portfolio, bringing some of the best high street names into our parks, including Burton, Dorothy Perkins, Evans, Miss Selfridge, Oasis, Topshop, Topman, Wallis and Warehouse.

John Maddison, Head of Retail Park Asset Management for British Land, said: "We are delighted to have agreed this series of deals with Outfit, particularly at Mayflower Retail Park which recently saw Next upsize to a 47,500 sq ft store. The openings will broaden and complement the existing fashion provision across these parks and strengthen our relationship with one of our key tenants."

British Land is represented by Harvey Spack Field at Mayflower Retail Park, Wilkinson Williams and Jones Lang LaSalle at Teesside Shopping Park, CWM and Savills at Orbital Shopping Park and Montagu Evans and Eric Young & Co at Fort Kinnaird Shopping Park.

Notes to Editors

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