British Land keeps soaring as its rivals struggle

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The Independent Online

British Land has opened the gap in London's skyscraper race as it forges ahead with its £1.1bn development programme in the capital, its chief executive, Chris Grigg, said yesterday.

The property firm has landed the insurer Aon for its Cheesegrater tower, and signed up UBS to its 5 Broadgate scheme and Debenhams at Regent's Place in the West End, deals which will generate £32m in income. The letting activity means half of its office development programme is already 50 per cent pre-let as it completes over the next two years.

By contrast, Hammerson has failed to sign up CMS Cameron McKenna to its Principal Place development and Great Portland Estates has been reluctant to commit to 100 Bishopsgate.