Member Article

British Land projects claim £1.2bn contribution to economy

British Land has published a report, claiming its development programme has contributed £1.2bn to the UK economy.

A report called Building Business, Creating Growth, was based on the work undertaken by PwC for British Land, covering the regional and national impact of the programme from 2011 to 2015.

The research purports that British Land off-site construction expenditure will have supported an estimated 4,300 jobs across the UK, outside of London and £186m to regional economies.

Much of the organisation’s construction takes place in central London, and therefore the majority share of wealth and jobs benefit the capital.

Expenditure on steelwork is estimated to create 1490 jobs across Northern England and Northern Ireland, which £59m of spending on mechanical and electrical services will create 650 jobs in the South-East, Midlands and London.

Chris Grigg, Chief Executive of British Land said: “There is much debate about how we might rebalance the UK economy and ensure all regions benefit from economic growth more equally. This report highlights how British Land and our partners are investing in the UK economy and communities around the UK through our £2.1 billion development programme.

“Whether it’s steel from the North West that is being used at The Leadenhall Building, or concrete from Yorkshire used at 5 Broadgate, our central London construction projects are the driving force behind the stability and growth of hundreds of businesses across the country.”

British Land build sites for a range of business, particularly retail space for the likes of M&S, Boots and H&M.

Bill Boler, Director, Physical Regeneration, Business in the Community, said: “Business in the Community welcomes British Land’s work to articulate its socio-economic contribution to UK communities and is committed to helping business improve its positive impact on society through the Community Footprint programme. There is a real need for understanding of how social value and financial return can co-exist, and indeed, be maximised.”

This was posted in Bdaily's Members' News section by Tom Keighley .