POPULAR SHARES

BRITISH Land is one of the UK’s biggest commercial property landlords, with a portfolio of about £13bn worth of shopping centres and office blocks.

The sector has been through the mill lately, with Brexit undermining confidence and the High Street being ravaged by the rise of digital shopping. British Land does have exposure to some struggling retail tenants, such as Debenhams and M&S, but it’s also got more stable renters – Tesco, Facebook and the Government.

What’s more, British Land has targeted investment at higherend, destination shopping centres, which are better insulated from the vagaries of High Street retail.

British Land shares trade at around a 30pc discount to the value of the underlying property portfolio. That’s allowed it to generate shareholder value by selling properties and using the proceeds to buy back shares on the cheap.

While developments in Westminster may yet throw a curve ball at the share price, with a yield of over 5pc British Land looks worthy of consideration for those willing to peer beyond the Brexit fog.