Shopping centre boosts British Land

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British Land, ​which jointly owns Meadowhall shopping centre, has warned of the “adverse impact” of Brexit as it announced annual profits rose 16 per cent to £363m.

CEO Chris Grigg said: “We remain confident in the underlying strength of the business despite continued global macro uncertainty and the potentially adverse impact of a vote for the UK to leave the European Union.”

​The group said that ​Meadowhall had a strong year. Sales at the centre were 2.2​ ​per cent​ ​ahead, with retailers on the refurbished premium mall significantly outperforming.

“​We are on site with a £60​m internal refurbishment, ahead of which we have already signed some high quality new brands including Diesel, Joules, Kiko Milano, Jack Wills and Tapas Revolution​,” said Mr Grigg.

The firm is in public consultation for a 330,000 sq ft leisure scheme which is said will cement Meadowhall’s position as among the best retail and leisure destinations in the UK.​

​​British Land commissioned a review by PwC, which identified Meadowhall’s social and economic contribution to the Sheffield City Region and the wider UK for the first time, with 1p in every £1 and one job in every 100 in the region linking back to Meadowhall.