British Land buys up retail parks and warehouses in diversification push

British Land is buying up out-of-town retail parks and warehouses as it seeks to diversify away from city centre shops and offices, two areas that have been hit hard by coronavirus. In a trading update on Wednesday, the FTSE 100 company said that retailers on its estate paid 70 per cent of what they owed in rent last year, as stores and outlets were forced to close in lockdowns. British Land, one of the UK’s largest office landlords and owner of the Broadgate estate in London, plans to push into sectors that have fared better during the coronavirus pandemic.