THE company which owns Drake Circus mall, The Barcode and a huge part of Plymouth city centre has made a pretax loss of more than £1bn. The British Land Company Plc also saw the value of its property portfolio collapse as it was badly hit by rising interest rates.
But the property giant - which owns Drake Circus Shopping Centre, the Barcode and the block which includes the House of Fraser store - had swung to a profit of £963m in 2022 after three years of losses totalling £2.5bn. But despite underlying profit growth of 6.9% it was pitched back into the red with the value of its portfolio falling from £10.4bn to £8.9bn in the year to March 2023.
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ARGYLE SIGN GRAY
ROONEY DELIGHTED WITH SIGNING OF PROVEN GOALSCORER\"
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PCs get jobs back after athlete search dismissal
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Cafe wins top award for its tasty waffles
KAWAFFLE PLACED IN TOP 10% OF TRIPADVISOR'S LISTINGS
Area crime falls, but community spirit too
RESIDENTS GIVE VERDICT ON 'NEW' NORTH PROSPECT
Rough sleepers given new homes
FULLY FURNISHED AND SUPPORT ACCESS