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British Land announces £300 million share buyback

Staff Writer |
British Land on Tuesday announced a £300 million share buyback programme for the current financial year, which it said is "against a backdrop of continuing strong demand in its investment markets."

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The property developer and investment company said that since the end of its last financial year, which ended on March 31, it has continued to sell into a "strong investment market."

However, currently opportunities to purchase at attractive returns are more limited, and investment in the company's shares at the prevailing discount offers better value than further asset acquisitions, British Land said.

The company did not disclose at what price it intends to buyback shares.

British Land added that since the start of the new financial year, it has achieved "good disposal and leasing progress" and continued to develop the pipeline of development opportunities that it has already created.

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