British Land Takes a Battering As Commercial Prices Collapse

Summary

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BRITISH Land, the property group behind London's Broadgate development and Sheffield's Meadowhall shopping centre, was the first casualty of the slump in commercial property prices, writes Rupert Steiner.

The country's biggest property developer was forced to wipe Pounds 1.39bn off the value of its portfolio sending it into the red for its third quarter results with a loss of Pounds 1.33bn.

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Extract

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British Land Takes a Battering As Commercial Prices Collapse

'Property values have been hit largely in res...

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