British Land saw £1.9bn wiped off the value of its net assets as it fell victim to the fall in the underlying commercial property market.
Although the UK's second largest real estate investment trust (Reit) outperformed the market, it still saw the value of its net holdings drop 20pc to £6.9bn. The company made a loss before tax of £1.6bn. Underlying profit, which strips out changes in property valuation, was up 10.5pc at £284m.
British Land has seen £1.9bn wiped off the value of its assets as the downturn in the commercial property market persists.
British Land's 201 Bishopsgate and The Broadgate Tower in the City of London
