are property prices on the way down because blnd is showing a slide to the down side

3rd Quarter Results

Announcement re rights issue.

The British Land Company PLC -7th April 2009

BRITISH LAND SIGNS FIRST MAJOR PRE-LETS FOR ROPEMAKER

"The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Mitsubishi UFJ Securities International plc have signed a pre-letting agreement for up to 38% per cent of British Land's new
586,000 sq ft Ropemaker office development in the City of London, EC2.
The 20-storey office building, one of British Land's most sustainable City developments yet, will achieve practical completion in early summer and will see The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) and Mitsubishi UFJ Securities International plc (MUSI) take 186,517 sq ft accommodation across nine floors with options for a further 42,654 sq ft.

Chris Grigg, Chief Executive, British Land said: 'We are delighted to welcome The Bank of Tokyo-Mitsubishi UFJ and Mitsubishi UFJ Securities International, with whom we have longstanding relationships, to our newest City office development. The agreement is very welcome progress, representing some 50 per cent of City office space taken up so far this year, and is in line with our target to let one third of new space prior to completion. Ropemaker's range of floor plates and roof gardens are on a scale and quality unparalleled in the City.'

The average initial rent is 46.50 per sq ft on a lease term of 20.5 years with a minimum uplift to 52.50 per sq ft at first review in 2014. An initial rent free period of 48 months from practical completion will be granted to both BTMU and MUSI. The banks will be co-locating from their existing buildings at Finsbury Circus and No.6 Broadgate. During Q4 2010, MUSI will surrender 112,000 sq ft at No.6 Broadgate, where the lease is due to expire in 2013."

Ive just bought aswell this afternoon on this info....

Two very recent Buys from brokers on the stock and a hold ..

British Land Co PLC

FORECASTS
2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

SG Securities
30-07-09 BUY 26.92 26.00 24.38 25.00

Exane BNP Paribas
30-07-09 HOLD 241.00 27.60 26.00 266.00 30.43 27.50

KBC Peel Hunt Ltd
29-07-09 BUY 258.28 31.56 26.00 286.40 34.87 27.00

SP up through resistance at 440p now an attack on 470p and 500p to negotiate.

Momentum behind this one with house and land prices stabalising.

Trying 470.

Yep going nicely skinny.

Good to see an inverse head and shoulders pattern on the chart that should if we go by the TA code give us a least a 750p sp target to aim at.

Stock is presently flirting with the 500p resistance line and once through this on a end of day basis its chocks away I reckon.

here's a simpler chart for idiots like me!
500 is an obvious resistance which needs to be broken before buying (i think)

Hi cyners yep its been through it earlier today but fell back a little on US futures dancing.

Reckon once through this should be a real corker.

Triple top? Eeeek!

is that good or bad?
i guess if it can break upwards through 500, then it could go like a champagne cork.
arguably worth taking a position with a view to cutting out should sp suddenly fall to say 440, being a few pennies below 200 dma

Arguably the highs from Feb, May and today are a potential triple top reversal - lets see what tomorrow brings !

Triple top is very very bad, even worse than a double top :)
however it isn't a triple anything unless it reverses.

don't get all this comercial property values are destined to crash in the short term, why should BLND suddenly revive?

Ptholden - exactly!

Cos if the bull run continues, land, commodities and housebuilders qill be among the first to benefit signalling the end of the recession.

That's the theory anyway (so someone told me). :)

BLND are commercial property owners with demand and rents likely to fall further can't see where the upside will come from.

Just found this (a few hours old) British Land shares jump on bid talk

taking a cynic(al) view sounds as though next weeks results are going to disappoint, especially the nav?

never mind what the papers say ...... look in your high street, and you'll find (certainly here) that the empty shops are now being bought up (leased) by some good quality brands ...... can't comment about office space, as it's not something i keep an eye on