{{Short description|UK real estate investment trust}} {{Use dmy dates|date=September 2023}} {{Infobox company | name = The British Land Company Public Limited Company | logo = British Land logo.svg | type = [[Public limited company]] | traded_as = {{lse|BLND}}<br>[[FTSE 100 Index|FTSE 100 Component]] | industry = [[Real estate]] | founded = {{start date and age|1856}} | location = [[London]], England, UK | key_people = {{ubl |[[John Ritblat|Sir John Ritblat]] (Honorary President) |{{wd-chairperson}} |Simon Carter (CEO) }} | products = London offices and retail | revenue = {{increase}} [[Pound sterling|£]]523&nbsp;million (2026)<ref name=AR>{{cite web|url=https://www.britishland.com/media/5vqpkh3q/fy26-press-release-vfinal.pdf|title=Annual Results for the year ended 31 March 2026|publisher=British Land|access-date=20 May 2026}}</ref> | operating_income = {{increase}} £379&nbsp;million (2026)<ref name=AR/> | net_income = {{increase}} £454&nbsp;million (2026)<ref name=AR/> | assets = | num_employees = | website = {{url|https://www.britishland.com}} }}

'''The British Land Company Public Limited Company''' is one of the largest [[real estate development|property development]] and investment companies in the [[United Kingdom]]. The firm became a [[real estate investment trust]] when REITs were introduced in the UK in January 2007. It is headquartered in [[London]], England, and is a founding member of the [[European Public Real Estate Association]]. It is listed on the [[London Stock Exchange]] and is a constituent of the [[FTSE 100 Index]].<ref>{{cite web|url=https://research.ftserussell.com/products/index-notices/home/getnotice/?id=2617937|title=FTSE UK Index Series: Quarterly Review December 2025|date=3 December 2025|publisher=FTSE Russell|access-date=19 December 2025}}</ref>

==History==

The British Land Company was founded in 1856 as an offshoot of the National Freehold Land Society (later [[Abbey National]]) formed in 1849 with the two chief architects of the freehold land movement [[Richard Cobden]] and [[John Bright]]. Both were ardent supporters of a movement to extend enfranchisement. To qualify for a parliamentary vote it was then necessary to be a landowner and the main object of the National Freehold was to facilitate the acquisition of small plots of land by the people. To do this the British Land Co. would purchase land and then resell it on the best terms to any customer who wanted to buy it. With the extension of the franchise, this reason ceased to govern the operation of the company, and it began to operate as a normal business in the latter part of the nineteenth century.<ref>W. C. March, The British Land Company Ltd. Centenary Booklet 1956</ref>

In 2004 it received planning permission for a [[Richard Rogers]] designed skyscraper at [[122 Leadenhall Street]], known informally as "The Cheese Grater" in the [[City of London]]. Construction of the tower, which is the [[List of tallest buildings in the United Kingdom|6th tallest building in the United Kingdom]], began in October 2007 and was completed in 2014.<ref name=grater>{{cite web|url=http://news.searchofficespace.com/sos-news/british-land-pre-lets-10-floors-of-office-space-to-aon-in-the-cheese-grater-building.html|title=British Land pre-lets 10 floors of office space to Aon in the Cheese Grater building|date=16 May 2011|publisher=SOS News|access-date=24 March 2012|archive-date=23 August 2011|archive-url=https://web.archive.org/web/20110823054051/http://news.searchofficespace.com/sos-news/british-land-pre-lets-10-floors-of-office-space-to-aon-in-the-cheese-grater-building.html|url-status=dead}}</ref>

In May 2005 British Land announced that it had agreed to purchase Pillar Property Plc for £811&nbsp;million in cash to boost its position in the out-of-town retail property sector.<ref>{{cite news|url=https://news.bbc.co.uk/2/hi/business/4572097.stm |title=British Land launches Pillar bid|work=BBC News|date=23 May 2005|access-date=24 March 2012}}</ref>

In 2006 [[John Ritblat|Sir John Ritblat]], who had chaired the company since 1970, stood down and was replaced by [[Chris Gibson-Smith]].<ref>{{cite news|url=https://www.telegraph.co.uk/finance/2943346/Gibson-Smith-to-helm-British-Land.html|title=Gibson-Smith to helm British Land |date=14 July 2006 |newspaper=The Telegraph |access-date=24 March 2012 |location=London}}</ref>

In October 2011, the company was placed in the number one position, with 135 subsidiaries, on a list of FTSE 100 companies that use tax havens for their operations, as revealed in a database of their subsidiaries compiled for the first time by the development charity [[ActionAid]].<ref>{{cite news |title=Third of votes cast against British Land pay report |url=https://www.theguardian.com/business/2011/oct/11/ftse-100-subsidiaries-tax-havens |work=The Guardian|date=11 October 2011 |access-date=11 October 2011 | first=Felicity | last=Lawrence |location=London}}</ref>

In March 2019, the company appointed Tim Score as the chair of its board.<ref>{{cite news |url=https://www.reuters.com/article/british-land-chairman-idUKL3N20Y3AY|title=British Land's chairman John Gildersleeve to retire|date=11 March 2019|newspaper=Reuters|access-date=28 October 2022}}</ref>

In September 2020, British Land announced that its chief executive [[Chris Grigg]] would exit the company December of that year.<ref name=":0">{{cite web |title=British Land's outgoing chief Chris Grigg regrets "people decisions" but hails new CEO as retail estate slides 14%|url=https://www.standard.co.uk/business/british-land-chris-grigg-retail-offices-property-simon-carter-london-b73059.html|date=18 November 2020|newspaper=London Evening Standard|access-date=28 October 2022}}</ref> He was succeeded by the firms [[chief financial officer]] Simon Carter in November 2020.<ref name=":0" />

In November 2020, British Land wrote down the value of its portfolio by almost £1&nbsp;billion after retail income fell due to the [[COVID-19 pandemic in the United Kingdom]].<ref name="Kollewe-18Nov2020">{{cite news |last1=Kollewe |first1=Julia |title=Shopping centre owner British Land takes £1bn hit to portfolio |url=https://www.theguardian.com/business/2020/nov/18/shopping-centre-owner-british-land-takes-1bn-hit-to-portfolio-covid-19 |access-date=19 November 2020 |work=Guardian |date=18 November 2020}}</ref>

In September 2023, it was reported that [[Meta Platforms|Meta]], the owner of [[Facebook]], had paid £149&nbsp;million to British Land in order to break the lease on its Triton Square London Office. Meta reportedly had 18 years left on its lease at the time.<ref>{{cite web |date=26 September 2023 |title=Meta pays developer £149m to break lease on London office building |url=https://www.independent.co.uk/business/meta-pays-developer-ps149m-to-break-lease-on-london-office-building-b2418681.html |access-date=26 September 2023 |website=The Independent |last=Saker-Clark|first=Henry}}</ref>

In January 2026, the company announced the resignation of its chief executive, Simon Carter, who was due to take up a new role at P3 Logistic Parks.<ref>{{Cite web |last=Boles |first=Tracey |date=2026-01-11 |title=British Land boss Simon Carter to leave for warehouse job |url=https://www.thetimes.com/business/companies-markets/article/british-land-ceo-simon-carter-leaving-lw5phjn8n |access-date=2026-01-12 |website=www.thetimes.com |language=en}}</ref>

In January 2026, the company made an agreed offer to acquire Life Science REIT in a deal worth £150 million.<ref>{{cite news|url= https://www.theaic.co.uk/aic/news/industry-news/british-land-swoops-on-life-science-reit-with-ps150m-recommended-bid |title=British Land swoops on Life Science REIT with £150m recommended bid|date=28 January 2026|newspaper=The Association of Investment Companies|access-date=14 April 2026}}</ref>

==Operations== [[File:Fulcrum, Broadgate Estate, London - geograph.org.uk - 1238069.jpg|thumb|240px|The Broadgate Estate in London]] As of 31 March 2026 the company owned a portfolio valued at £6.4&nbsp;billion.<ref name=AR/> The portfolio includes a large amount of property which has been purchased from and leased back to major retailers such as [[Tesco]], [[Sainsbury's]], [[House of Fraser]] and [[Asda]]. This includes the [[Broadgate|Broadgate Estate]], one of the largest developments in London over several decades,<ref>{{cite news|url=https://www.theguardian.com/business/2009/sep/18/british-land-broadgate-blackstone|title=British Land to sell half of Broadgate stake to Blackstone|date=18 September 2009|access-date=24 March 2012|location=London|work=The Guardian|first=Graeme|last=Wearden}}</ref> and [[Regent's Place]] near [[Warren Street tube station|Warren Street Station]].<ref>{{cite news|url=https://www.theguardian.com/sustainable-business/british-land-masterplan-london-deprived-area|title=British Land - creating a masterplan for one of London's most deprived areas|date=26 May 2011|access-date=24 March 2012|work=The Guardian}}</ref>

Since October 2012 British Land and the [[Government Pension Fund of Norway|Norwegian Government Pension Fund Global]] had each owned 50% stakes in [[Meadowhall (shopping centre)|Meadowhall]], one of the UK's largest shopping centres based in [[Sheffield]].<ref>{{Cite web |date=2012-10-17 |title=Fund buys 50 percent of Meadowhall Shopping Centre in the UK - Norges Bank |url=http://www.norges-bank.no/en/about/published/press-releases/2012/nbim-meadowhall/ |access-date=2024-06-17 |archive-url=https://web.archive.org/web/20121017171200/http://www.norges-bank.no/en/about/published/press-releases/2012/nbim-meadowhall/ |archive-date=17 October 2012 }}</ref> An agreement between [[Norges Bank#Norges Bank Investment Management|Norges Bank Investment Management]] (NBIM) and British Land was signed on 18 May 2024 for NBIM to acquire the remaining 50% stake of the Meadowhall estate from British Land, completing on 12 July 2024. The cost of the acquisition was £360 million. British Land would continue as the asset manager of the property.<ref>{{Cite web |date=2024-05-19 |title=Fund expands ownership in Meadowhall |url=https://www.nbim.no/en/the-fund/news-list/2024/fund-expands-ownership-in-meadowhall/ |access-date=2024-06-17 |website=Norges Bank Investment Management |language=en}}</ref>

==Main projects== * [[122 Leadenhall Street]], London, opened in July 2014<ref name=grater/> * 5 Broadgate, London<ref>{{cite web | title=5 Broadgate Under Construction| work=Broadgate| url=http://www.broadgate.co.uk/5-Broadgate|access-date=2 October 2014}}</ref> * 4 Kingdom Street, Paddington, London<ref>{{cite news | date=14 May 2014 | title=Paddington's Kingdom Street scheme to be expanded| url=http://www.theconstructionindex.co.uk/news/view/paddingtons-kingdom-street-scheme-to-be-expanded|access-date=2 October 2014|work=The Construction Index}}</ref> * 5 Kingdom Street, Paddington, London<ref>{{cite web |last=Hodgson |first=Joanna |date=3 May 2023 |title=British Land gets green light for urban logistics hub in Paddington |url=https://www.standard.co.uk/business/british-land-urban-logistics-kingdom-street-paddington-b1078426.html |access-date=3 May 2023 |website=Evening Standard }}</ref> * Norton Folgate and Blossom Street, London<ref>{{cite web | title=New London Development-Blossom Street, E1 |url=http://newlondondevelopment.com/nld/project/ohjg7om|archive-url=https://web.archive.org/web/20141020021557/http://newlondondevelopment.com/nld/project/ohjg7om|url-status=usurped|archive-date=20 October 2014|access-date=2 October 2014}}</ref> * Surrey Quays Shopping Centre, London<ref>{{cite news |title=British Land kicks off its £1bn spending spree with Surrey Quays stake | date=4 April 2013 | url=https://www.standard.co.uk/business/business-news/british-land-kicks-off-its-1bn-spending-spree-with-surrey-quays-stake-8559783.html |access-date=2 October 2014|work=The Standard}}</ref> * Harmsworth Quays, London<ref>{{cite news | title=British Land Reaches Key Milestone in the Redevelopment of Harmsworth Quays | date=4 April 2013 | url=http://www.britishland.com/media/news/2013/04-04-2013.aspx|access-date=2 October 2014}}</ref> * [[Stephen's Green Shopping Centre]], [[Dublin]], opened in 1988<ref>{{cite web|url=https://www.irishtimes.com/business/commercial-property/stephen-s-green-shopping-centre-majority-stake-guiding-130m-1.3929703|title=Stephen's Green Shopping Centre majority stake guiding €130m|date=19 June 2019|newspaper=The Irish Times|access-date=24 June 2022}}</ref>

==References== {{reflist}}

==External links== {{Portal|Companies}} *{{official website|https://www.britishland.com}}

{{Real estate in the United Kingdom}} {{FTSE 100 Index constituents}} {{Authority control}}

[[Category:British Land| ]] [[Category:Property companies of the United Kingdom]] [[Category:Real estate investment trusts of the United Kingdom]] [[Category:Companies based in the City of Westminster]] [[Category:British companies established in 1856]] [[Category:1856 establishments in England]] [[Category:Companies listed on the London Stock Exchange]] [[Category:Companies in the FTSE 100 Index]]