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Der private Equity-Eigentümer von TG Jones steht vor einem großen Widerstand, da er Pläne für kostspielige Mietkürzungen und Filialschließungen auf den Vermieter drücken möchte. Die Vermieter der ehemaligen WHSmith-Filialen auf dem Haupteinkaufsweg haben Anwälte beauftragt, um sich gegen das von Modella vorgeschlagene 'unannehmbare' Umstrukturierungsplan zu wehren. Modella hat gewarnt, dass TG Jones ohne drastische Mietkürzungen oder langfristige Zahlungshilfen bis Ende Juni pleite sein wird.

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Die britische Immobilienfirma British Land hat Joanne McNamara von Oxford Properties als neuen Chef eingestellt. Sie wird die Nachfolge von Simon Carter antreten, der sich zum Leiter des Logistikentwicklers P3 Logistics Parks entschieden hat.

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Die Bank Barclays hat British Land von "Gleichgewicht" auf "Übergewicht" hochgestuft und das Zielpreisziel auf 465 Pence angehoben. Dies entspricht einem Aufwärtspotenzial von etwa 20 %. Die Grundlage für diese Prognose ist die Rückkehr des Vermieters zu Einnahmewachstum nach drei Jahren flacher Ergebnisse. British Land wird gegenwärtig bei etwa 12,5-fachen Schätzungen der Einnahmen für das Geschäftsjahr 2027 gehandelt und bietet ein EPS-Yield von 8 %. Barclays hat seine fünfjährige EPS-CAGR-Schätzung auf 4,5 % angehoben. Die Analysten erwarten eine Erholung des wiederkehrenden EPS von 29 Pence im Geschäftsjahr 2026 auf 31,1 Pence im Geschäftsjahr 2027, 32,7 Pence im Geschäftsjahr 2028 und 34,1 Pence im Geschäftsjahr 2029. British Land hat sich für ein Einnahmewachstum von mindestens 6 % im Geschäftsjahr 2027 und einen mittelfristigen Zielwert von 3 bis 6 % pro Jahr verpflichtet. "Dies ist keine NAV-Geschichte, sondern eine Einnahme- und Einnahmestieggeschichte", so die Analysten. Barclays hat gleichzeitig Landsec auf "Übergewicht" gehoben und das Zielpreisziel auf 780 Pence angehoben. Dies entspricht einem Aufwärtspotenzial von etwa 26 %. Landsec wird gegenwärtig bei etwa 12-fachen Schätzungen der Einnahmen für das Geschäftsjahr 2027 gehandelt und bietet ein EPS-Yield von 8,3 %. Barclays modelliert den EPS auf 62,1 Pence im Geschäftsjahr 2030. Dies entspricht dem Ziel des Managements von etwa 62 Pence pro Jahr.

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Für die britische Immobilienfirma British Land Co PLC (BRLAF) verzeichnete man starke Gewinnwachstum, mit einem Unternehmensgewinn von 5% und einem Unternehmens-EPS-Wachstum von 1%, getrieben durch eine Leasingleistung von 6%. Die Firma erzielte einen Rekordleasingwert von 143 Millionen Pfund im letzten Jahr, was 15% des Londoner Büroimmobilien-Marktes entspricht und 33% im vierten Quartal. British Land Co PLC (BRLAF) hat eine starke Marktposition in Campi und Einzelhandelsparks, die nun 90% ihres Geschäfts ausmachen, mit hohen Besetzungsquoten und starkem Bedarf. Die Übernahme des Life Science REIT ist sofortig abzüglich und fügt hochwertige Vermögenswerte dem Portfolio hinzu, insbesondere im Bereich der Wissenschaft und Technologie.

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British Land hat in seinem H2-Ergebnis eine starke Leasingmöglichkeit vermeldet. Die Londoner Campi und Retailparks zeigten eine hohe Nachfrage, mit einer Rekordleistung bei der Vermietung von Büroflächen. Die Unternehmensleitung erwartet ein Wachstum des EBITDA um 3-5% in den nächsten Jahren. British Land hat auch seine Dividende erhöht und seine Bilanz zeigt eine starke Liquidität mit £1,6 Mrd.

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Der Immobilienriese British Land hat stärkere als erwartete Gewinne bekannt gegeben, die durch wachsende Nachfrage nach Bürospace aus den boomenden AI- und Technologie-Sektoren getrieben werden.

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This article first appeared on GuruFocus.

London's office market is starting to show early signs of a shift as artificial intelligence companies expand, with demand for premium space beginning to re-emerge in select pockets. For investors tracking real estate exposure, this trend could signal a more nuanced recovery, where top-tier assets tied to innovation-led tenants are seeing renewed traction while the broader market remains uneven.

Warning! GuruFocus has detected 6 Warning Signs with HLICF. Is HLICF fairly valued? Test your thesis with our free DCF calculator.

Helical Plc (HLICF) highlighted that momentum in a Wednesday trading update, noting it has leased a 20,000 square-foot office at its Bower building in London to Incident.io, an AI-powered incident management platform. The company attributed the transaction to a resurgence in the tech occupier market, suggesting that AI-driven tenants are starting to contribute incremental demand after a softer period for office leasing.

A similar pattern is emerging at British Land Co. (BTLCY), which upgraded its guidance and pointed to accelerating demand from a new wave of AI and innovation-led occupiers. The company recently signed Anthropic PBC for 158,000 square feet, reinforcing the scale of requirements from leading AI firms. Bloomberg Intelligence analysts Jeffrey S. Langbaum, Sue Munden and Patrick Wong noted that AI-driven hiring, combined with return-to-office mandates, could be supporting incremental demand, contributing to a bifurcated market where premium assets may continue to outperform.

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Real estate giant British Land has increased its earnings guidance for 2026 and 2027 as it reported “accelerating demand” from AI firms.

The FTSE 100 company saw shares lift higher in early trading as a result.

Bosses said the group’s campuses and retail parks operations have both helped to drive positive growth in rents and earnings.

British Land said it expects to have delivered underlying earnings per share of 28.9p for the year to the end of March, ahead of previous guidance.

It also told investors it is on track for underlying earnings per share of at least 30.5p for the new financial year. The group had previously given guidance of around 30.2p.

The positive outlook came as the firm reported stronger-than-expected net rental growth of 6% for the past year, including 12% growth in campuses.

The campuses business, which includes Regents Place in London, has particularly benefited from deals with new AI-linked tenants, such as Anthropic.

Simon Carter, chief executive of the firm, said: “We are seeing accelerating demand from a new wave of AI and innovation-led occupiers, driving strong rental growth in what remains a supply constrained market.”

British Land also hailed a stronger performance across its retail parks business, which includes Fort Kinnaird in Edinburgh and Whiteley in Hampshire.

It said the retail parks are “virtually full”, with occupancy of 99% across its properties.

Mr Carter said: “This has been an excellent year of leasing, reflecting our market-leading position in campuses and retail parks, where availability for high-quality space in the right locations is near record lows, and occupational fundamentals continue to strengthen, despite ongoing macroeconomic volatility.

“With continued momentum across the portfolio, including particularly strong Q4 leasing, and the earnings accretive acquisition of Life Science REIT completing yesterday, we are confident in our earnings growth outlook for full-year 2027 and beyond.”

Shares were up 2.2% at 404.6p on Tuesday morning.

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8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”)

1.KEY INFORMATION

(a)Full name of discloser: Rathbones Group Plc (b)Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c)Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree The British Land Company Plc (d)If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e)Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure 17/04/2026 (f)In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A” Yes

2.POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a)Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security: 25p Ord Interests Short positions Number % Number % (1)Relevant securities owned and/or controlled: 344,169 0.03% (2)Cash-settled derivatives: (3)Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL: 344,169 0.03%

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages:

3.DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

Story Continues

The currency of all prices and other monetary amounts should be stated.

(a)Purchases and sales

Class of relevant security Purchase/sale Number of securities Price per unit 25p Ordinary Shares Purchase 2,000 407.1103p

(b)Cash-settled derivative transactions

Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit

(c)Stock-settled derivative transactions (including options)

(i)Writing, selling, purchasing or varying

Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit

(ii)Exercise

Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit

(d)Other dealings (including subscribing for new securities)

Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable) 25p Ordinary Shares

4.OTHER INFORMATION

(a)Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none” None

(b)Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i)the voting rights of any relevant securities under any option; or (ii)the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state “none” None

(c)Attachments

Is a Supplemental Form 8 (Open Positions) attached? No

Date of disclosure: 20/04/2026 Contact name: Callum Ridley – Compliance Department Telephone number: 0151 243 7037

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at.

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LONDON, April 20, 2026--(BUSINESS WIRE)--

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

1.KEY INFORMATION

(a)Full name of discloser: SAMSON ROCK CAPITAL LLP (b)Owner or controller of interests and short positions disclosed, if different from 1(a):

The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c)Name of offeror/offeree in relation to whose relevant securities this form relates:

Use a separate form for each offeror/offeree BRITISH LAND COMPANY PLC, THE (d)If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e)Date position held/dealing undertaken:

For an opening position disclosure, state the latest practicable date prior to the disclosure 17/04/2026 (f)In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?

If it is a cash offer or possible cash offer, state "N/A" YES – LIFE SCIENCE REIT PLC

2.POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a)Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security: 25p ORDINARY Interests Short positions Number % Number % (1)Relevant securities owned and/or controlled: (2)Cash-settled derivatives: 2,234,546 0.22 (3)Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL: 2,234,546 0.22

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages:

3.DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

Story Continues

The currency of all prices and other monetary amounts should be stated.

(a)Purchases and sales

Class of relevant security Purchase/sale Number of securities Price per unit

(b)Cash-settled derivative transactions

Class of relevant security Product description

e.g. CFD Nature of dealing

e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit 25p ORDINARY Equity Swap Increasing a short position 39 394.90 GBp

(c)Stock-settled derivative transactions (including options)

(i)Writing, selling, purchasing or varying

Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type

e.g. American, European etc. Expiry date Option money paid/ received per unit

(ii)Exercise

Class of relevant security Product description

e.g. call option Exercising/ exercised against Number of securities Exercise price per unit

(d)Other dealings (including subscribing for new securities)

Class of relevant security Nature of dealing

e.g. subscription, conversion Details Price per unit (if applicable)

4.OTHER INFORMATION

(a)Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none" NONE

(b)Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:

(i)the voting rights of any relevant securities under any option; or

(ii)the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:

If there are no such agreements, arrangements or understandings, state "none" NONE

(c)Attachments

Is a Supplemental Form 8 (Open Positions) attached? NO

Date of disclosure: 20/04/2026 Contact name: Alistair Monro Telephone number*: 02039941800

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel’s Market Surveillance Unit.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420844244/en/

Contacts

Samson Rock Capital LLP

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