British Land ends 2025 with over 500,000 sq ft of retail leasing deals
British Land ended 2025 with the completion of 502,000 sq ft retail leasing deals in the final quarter, including 383,000 sq ft of deals completed within its retail park portfolio.
The real estate investment trust (REIT) said these deals were completed at 12.0% ahead of estimated rental value (ERV), and that it also had another 727,000 sq ft of deals under offer, 12.5% ahead of ERV.
Within British Land’s retail park portfolio, occupancy reached 99% by the end of the year, with footfall up by 2.2% year-on-year.
Across the REIT’s entire portfolio, British Land completed 882,000 sq ft of leasing deals in the three months to 31 December 2025, 8.5% ahead of ERV.
Simon Carter, chief executive of British Land, said: “In the third quarter we continued to build on the leasing momentum we saw in the first half, delivering 882,000 sq ft of leasing across 151 deals, 8.5% ahead of ERV, and 10.2% ahead of previous passing rent. Strong occupational fundamentals across our London campuses and retail parks are driving deals ahead of previous passing rent and supporting the lease up of our developments.”