British Land : Clydesdale selects Leadenhall as new London office

Clydesdale Bank selects The Leadenhall Building as its new London office

13 May 2016

British Land and Oxford Properties announce today that Clydesdale Bank PLC has selected Level 15 of The Leadenhall Building as its London office.

The bank has signed a 15 year lease, and has taken occupation of the 17,300 sq ft floor.

The Leadenhall Building is now 98 per cent let or under offer with just a single floor of 7,000 sq ft available. The building is now home to over 4,800 workers, with six companies taking occupation so far in 2016.

Tim Roberts, Head of Offices and Residential at British Landsaid: 'We have seen strong demand for space at The Leadenhall Building, and have been very pleased to secure long-term commitments from blue-chip occupiers, such as Clydesdale Bank. With just one floor available, we anticipate that the building will be fully let ahead of schedule later this year.'

Chris Carter Keall, Vice President and Head of Asset Management at Oxford Propertiessaid: 'The Leadenhall Building has attracted occupiers from a wide variety of sectors, who are attracted to the excellent customer service, the variety of floor-plate sizes and its location. Clydesdale's decision to move in is a fantastic endorsement of our leasing strategy, and we are delighted to welcome them to the building.'

Enquiries:

Investor Relations

Sally Jones, British Land 020 7467 2942

Media

Pip Wood, British Land 020 7467 2838

Sally Saadeh, Oxford Properties 020 7822 2844

Andrew Scorgie, FTI Consulting 020 3727 1458

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. We have total assets in the UK, owned or managed of £19.7 billion (of which British Land share is £14.4 billion), as valued at 30 September 2015. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups. 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 finance these places effectively.

UK Retail assets account for 51% 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. 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 22 million sq ft of retail space across shopping parks, superstores, shopping centres, department stores and leisure assets, the retail portfolio is modern, flexible and adaptable to a wide range of formats.

Our Office and Residential portfolio, which accounts for 49% 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 7.5 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 industry-leading sustainability strategy is a powerful tool to deliver lasting value for all our stakeholders. By supporting communities, improving environments and growing economies, we create Places People Prefer and enhance long-term returns.

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

About Oxford Properties Group

Oxford Properties Group is a global platform for real estate investment, development and management, with over 2,000 employees and C$40bn of real estate assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford was acquired in 2001 by OMERS, one of Canada's largest pension funds with over C$78bn in assets. Oxford has regional offices in Toronto, London and New York, each with investment, development and management professionals who have deep real estate expertise and local market insight. Oxford now has approximately C$8bn of assets under management in Europe, with a focus on core office and high street retail assets in Central London and Paris.

For more information about Oxford visit: www.oxfordproperties.com.