Four of Britain’s largest listed property companies could have £6bn in total wiped off the values of their portfolios over only three years because of pressures on the retail sector, a broker has warned.
Liberum has forecast a 25% decline in the retail property valuations of British Land, Hammerson, Intu and Landsec, including the 11% declines already reported this year.
The quartet have a combined portfolio of British retail property valued at about £23bn. They own thousands of shops, shopping centres and retail parks across the country, from the Trafford Centre in Manchester to Meadowhall in Sheffield to Bluewater in Kent.
