A 70,000 sq ft retail development on land adjoining Meadowhall Shopping Centre is in the pipeline.
British Land also wants to expand the retail space at its Glasgow Fort retail park. This is in addition to an already agreed 45,000 sq ft leisure extension at Glasgow Fort that is soon to start construction, comprising a Multiplex cinema let to Vue along with five restaurants. This will be opened in 2013.
Plans are also being prepared for a large, retail-led mixed use scheme at Power Court in Luton.
A planning application has already been submitted for a major refurbishment and a 100,000 sq ft extension to Surrey Quays shopping centre in London.
News of these schemes came as British Land reported its third quarter results, showing a 6.5% increase in underlying pre-tax profit.
The company said that it had been surprised how cheaply it had been able to procure construction work. “By committing to schemes early we have succeeded in securing contracts at attractive levels and ahead of our original expectations,” it said.
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