Grey space was increasing in H1 20. British Land now forecasts Offices’ prime rents “to fall 5-10%, over 12-18 months”. It will make the balance sheet more fragile as Offices weighed 65% of BL’s GAV and haven’t been hurt that much until now. The conjunction of cycles (Offices + Retail) becomes likely in H1 21. Retail has accelerated its collapse, once again. The recent share price bump was another opportunity for exiting, following the vaccine. Buy it later.
18 Nov 2020
Offices start to react in the City of London
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Offices start to react in the City of London
British Land Company PLC (BLND:LON) | 393 18.8 1.2% | Mkt Cap: 3,641m
- Published:
18 Nov 2020 -
Author:
Christian Auzanneau -
Pages:
4
Grey space was increasing in H1 20. British Land now forecasts Offices’ prime rents “to fall 5-10%, over 12-18 months”. It will make the balance sheet more fragile as Offices weighed 65% of BL’s GAV and haven’t been hurt that much until now. The conjunction of cycles (Offices + Retail) becomes likely in H1 21. Retail has accelerated its collapse, once again. The recent share price bump was another opportunity for exiting, following the vaccine. Buy it later.