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British Land looking to expand in the future

UK property giant British Land appears set to hit the investment trail with an admission that the company is looking to invest upwards of £2.5 billion into the UK property market. This comes at a time when the company announced its first quarterly increase in assets for some time and a more upbeat statement for the immediate future. However, investment into the UK property sector will not be spread across the board and will be very selective.

It looks as though the first market to benefit from the perceived recovery in the UK economy will be central London which British Land appears to have targeted. Around £1 billion has been put aside for this particular area of the UK which the company will look to spend over the next 12 to 24 months. Other areas of the UK will also come under serious consideration but the company has reiterated the fact it will be a very "disciplined investment programme".

The wording of the British Land statement would suggest that the company is "bottom fishing" and looking to pick up assets at rock bottom prices. Even though the sector and the UK economy as a whole are in a better position now than they were a few months ago, there are still many property companies struggling with cash flow and finance issues. Distressed asset sales will continue in this particular sector for some time to come.

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