REUTERS/Stefan Wermuth
The amount of money flowing into the sector gives and indication of just how buoyant the market is and British Land says: "Appetite for UK real estate remained robust with a record £30.7 billion ($46.6 billion) of direct real estate investment in the first six months of 2015."
That's the equivalent of £170 million ($258 million) pumped into UK property every day from January to June. It's a lot.
British Land says nearly 80% of this went into London, where it has been focusing its efforts.
A shortage of both office space and housing in the capital has led to spiralling prices - great news for property developers and investors.
British Land's financial highlights for the first half are:
- Underlying profit up 10.3% to £171 million ($259 million);
- Reported pre-tax profit slipped from £1 billion ($1.52 billion) to £823 million ($1.24 billion);
- Total portfolio valuation up 4.7%. Finished investments are up 4.5%, while developments increased by 8.5%;
- 573,300 sq ft of leasing across its retail and office portfolio, which is 98.4% occupied.
And British Land has some ambitious plans for the future too:
- Refurbishment of 100 Liverpool Street, UBS' current east London headquarters, to created a glass and steel building;
- Restoration and renovation of 1 Finsbury Avenue in east London;
- 230,000 sq ft of leisure extensions to retail assets including Drake Circus, Plymouth, and New Mersey Shopping Park, Speke;
- A "master plan" for the renovation of Canada Water in south-east London into a mixed-use site with offices, accommodation, shops, and green spaces.