The news came in a bullish update to the City today.
British Land said: “We are positive about the outlook for development returns and have been increasing our pipeline of prospective development opportunities, particularly within London.
“In total, our prospective near-term development pipeline now stands at 1.4 million sq ft, a total potential capital commitment (including land value) of £784m.
“We expect to start on site on the majority of these developments within the next 12-18 months as our committed pipeline completes, having obtained planning permission.”
The Near Term Uncommitted Development Pipeline consists of:
| AT 30 June 2013 | Sector | BL Share | Sq ft | Total Cost1 |
| ‘000 | £m | |||
| The Clarges Estate, W1 | Mixed use | 100% | 194 | 318 |
| 5 Kingdom Street, Paddington | Offices | 100% | 240 | 151 |
| Aldgate Place, E1 | Residential | 50% | 356 | 92 |
| 4 Kingdom Street, Paddington | Offices | 100% | 145 | 91 |
| The Hempel, W2 | Residential | 100% | 40 | 56 |
| Surrey Quays (extension) | Retail | 100% | 98 | 24 |
| Yalding House, W1 | Offices | 100% | 30 | 23 |
| Broughton Park, Chester | Retail | 44% | 54 | 7 |
| Whiteley Phase 2 (Leisure) | Retail | 50% | 58 | 5 |
| Fort Kinnaird Edinburgh | Retail | 22% | 85 | 5 |
| Meadowhall Surrounding Land | Retail | 50% | 22 | 5 |
| Milton Keynes, Kingston Centre | Retail | 50% | 21 | 4 |
| Deepdale Shopping Park, Preston | Retail | 22% | 71 | 3 |
| Total | 1,414 | 784 | ||
| 1 current valuation plus cost to complete and excluding notional interest | ||||
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