British Land: poor relative

George Hay UK commercial property stocks have generously rewarded equity investors over the last six months. But in a sector now trading on a 10% premium to forward net asset value, the relative attractions of British Land are being overlooked. Interim results from the UK’s second-largest property firm by market capitalisation provided fresh evidence of the upturn in the sector. British Land’s stock of prime provincial shops and London offices has enjoyed a 1.4% increase in value since June. ...