British Land reports loss of £1bn as portfolio value drops to 12.3%

Additionally, its net tangible assets, which reflects the value of its buildings, also fell 19.5% to 588 pence

British Land has reported a £1bn pre-tax loss compared with profits of £965m the prior year, after seeing a 12.3% decline in its portfolio value to £8.8b in the year ending 31 March 2023.

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