British Land

British Land's two largest developments to complete later than planned due to lockdown



British Land has acknowledged in its full year results for the year ended 31st March 2020 that its two largest development sites, 100 Liverpool Street and 1 Triton Square, are running behind schedule as a result of social distancing measures.

In its full year results for the year ended 31st March 2019, 100 Liverpool street and 1 Triton Square were scheduled to complete in Q1 2020 and Q4 2020, respectively.

Work was suspended on these sites in March for health and safety reasons.

The sites have now recommenced work but, with a clear focus on social distancing and safety, it means that the number of people on site has reduced and therefore its productivity will be lower.

The report stated: “At this stage, it remains difficult to accurately assess the impact of these delays.
 
“We currently expect that the office element of 100 Liverpool Street will be practically completed in early summer, with full practical completion in calendar Q3 2020. 

“At 1 Triton Square, we are targeting calendar Q2 2021 for practical completion. 

“We have reached practical completion on 135 Bishopsgate and the space is now being fitted out, albeit progress will inevitably be slower with fewer operatives on site.”


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