British Land Company PLC · LSE:BLND
British Land — Investor Presentation (June 2017)
23 slides from British Land's investor presentation, Jun 21, 2017
Slide 1: Investor and Analyst Tour
Investor and Analyst Tour 4 Kingdom Street, Paddington Central 21 June 2017 www.britishland.com @BritishLandPLC
Slide 2: Introduction
Introduction Tim Roberts Head of Offices
Slide 3: Agenda
Agenda 3.45pm Presentation • Our Campus approach – meeting customer needs – Tim Roberts • Delivering our Campus approach at Paddington Central – Tim Haddon / Tim Downes • Flexible workspace – Introducing Storey – Joff Sharpe • Q&A 4.30pm Tour of Paddington Central 5.15pm Drinks on the Rooftop, 4 Kin
Slide 4: Responding to evolving customer needs
Responding to evolving customer needs Employees are more discerning and Talent retention and flexibility are becoming demanding about the quality of the workplace increasingly important to occupiers Social Hub Talent Retention and Wellbeing Diverse Retail and F&B Offering Brand Alignment Collaborati
Slide 5: Our campuses provide a differentiated offer
Our campuses provide a differentiated offer And respond to changing Campuses provide a unique platform customer needs Scale Occupiers • Range of accommodation • High quality buildings and environments • Economies of scale to fund enhanced attracting the best talent services • Flexible space on flexi
Slide 6: Paddington Central
Paddington Central Tim Haddon Head of Campus Tim Downes Development Director
Slide 7: Introducing Paddington Central
Introducing Paddington Central 7
Slide 8: Introducing Paddington Central
Introducing Paddington Central • 1 million sq ft with opportunity to add 0.5 million sq ft • Diverse occupier mix Insurance 4% Natural Resources 9% Financial 28% F&B, retail & leisure 12% Prof Services & Corporate TMT 20% 26% 8
Slide 9: Our investment at Paddington Central
Excellent transport connectivity Our investment at Paddington Central • £775 million investment – £470m acquisition, July 2013 – £210m acquisition of 1 Sheldon Square, April 15 – £95m capital spend, primarily development of 4 Kingdom Street • Rationale for investment – Re-weighting to West End – Add
Slide 10: Vibrant environments enlivened by events
Vibrant environments enlivened by events Improving and enlivening the campus Campus experience index (out of 5) £10m 4.5 invested to upgrade the campus 4.0 3.5 55,000 people attended 3.0 events in the last 12 months 70% 2.5 & drink Physical environments Events Wellbeing & Perceptions Travel & access
Slide 11: Broadening the mix of uses
Broad retail, leisure and F&B offer Broadening the mix of uses • Retail and leisure currently provides 12% of rent, with plans to double that • Activating the canal-side; adding barges • Retail pop ups and street markets • Pergola outdoor dining – 850 covers 11
Slide 12: 4 Kingdom Street
High quality buildings attracting the best talent 4 Kingdom Street High standard of digital infrastructure • New 147,000 sq ft office over nine floors • Balconies on each floor; roof terrace with basketball court • Rationalised core with bigger reception, and more flexible floor plates • BREEAM Exce
Slide 13: Performance to date
Performance to date 13% Annualised total return since acquisition Apr 2015 1 Sheldon Apr 2017 4 Kingdom Jul 2013 Acquisition Square acquisition Street PC 2013 2014 2015 2016 2017 2018 - Evaluation and planning - Public realm improvements 437k sq ft of rent reviews - Letting 150,000 sq ft of - Develo
Slide 14: Gateway Building
Gateway Building • New development opportunity on site of current management suite • 190 bedroom hotel totalling over 100,000 sq ft • Ground floor enlivened with high quality retail and F&B • Expect to submit planning in summer 2017 for £100m development • In advanced negotiations with a premium ope
Slide 15: 5 Kingdom Street
5 Kingdom Street • Existing consent for 210,000 sq ft offices with plans to enhance by at least 30% • Opens up route through to Royal Oak and Warwick Avenue, completing campus • Targeting planning submission 2018 Completing the campus and improving connections to more transport options 15
Slide 16: The Box
The Box • Utilising redundant space on completion of Crossrail works • Potential to add leisure venue or other uses – e.g. conference, medical Opportunity to further diversify the mix of uses at the campus 16
Slide 17: Introducing Storey
Introducing Storey Joff Sharpe Head of Operations, responsible for Storey
Slide 18: Our first customer up and running…
Flexible space on flexible terms Our first customer up and running… • Existing occupier at Paddington Central taking flexible space at Broadgate for their digital team • 25,000 sq ft at 2 Finsbury Avenue on two year term • Full management service and fit out • All-inclusive rate which reflects a pre
Slide 19: Our brand launched...
Our brand launched... Personalised. Simple.
Slide 20: Space launching summer 2017…
Space launching summer 2017… Appold Studios, Broadgate • 7,000 sq ft over 4 floors 2 Finsbury Avenue , Broadgate • Liverpool Street 2 minutes International House, Ealing Broadway • 20,000 sq ft • Ealing Broadway 6 minutes • 54,000 sq ft, including Kingfisher 25,000 sq ft • Liverpool Street 2 minutes
Slide 21: Conclusions
Conclusions Tim Roberts Head of Offices
Slide 22: Key messages
Key messages • Our approach is defined by what our customers want • Our unique campus proposition is well positioned to meet the evolving needs of our customers – Good progress has been made at Paddington Central with more development to come – Flexible workspace broadens our offer to both existing
Slide 23: Q&A
Q&A