May 15, 2019 / 6:26 AM / 6 days ago

British Land annual NAV declines on high-street retail closures

May 15 (Reuters) - Real estate firm British Land Co reported a 6.4% drop in annual net asset value on Wednesday, as retailers invested less in physical stores amid increased online competition.

The company’s EPRA net asset value, a key industry metric that reflects the value of a firm’s buildings, was 905 pence per share in the year ended March 31, down from 967 pence per share a year earlier. (Reporting by Justin George Varghese in Bengaluru; editing by Gopakumar Warrier)

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