British Land Company Plc · LSE:BLND
British Land — Non-Deal Roadshow (December 2024)
32 slides from British Land's roadshow presentation, Dec 2, 2024
Slide 1: UBS Tour: Science & Technology
2 DECEMBER 2024 U B S TO U R S C I E N C E & T E C H N O LO GY
Slide 2: Science & Technology
SCIENCE & T E C H N O LO GY MICHAEL WISEMAN, BRITISH LAND H e a d o f Wo r k s p a c e L e a s i n g a n d S c i e n c e & Te c h n o l o g y Relation Therapeutics, Fort Kinnaird, 338 Euston Road Edinburgh S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.2
Slide 3: Science & Technology: Key Takeaways
SCIENCE & TECHNOLOGY: KEY TAKEAWAYS RIGHT REAL ESTATE, KEY ELEMENT OF OUR BROAD AND FAST LOCATIONS AND CAMPUS STRATEGY GROWING SECTOR CAPABILITIES S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.3
Slide 4: Broad and fast growing sector supported by long term mega trends
BROAD AND FAST GROWING SECTOR SUPPORTED BY LONG TERM MEGA TRENDS HEALTHCARE DEMANDS TECHNOLOGY AND AI CLIMATE CRISIS AND OF AN AGEING ACCELERATING NET ZERO AMBITIONS POPULATION SCIENTIFIC DISCOVERIES SCIENCE & TECHNOLOGY REPRESENTS c.15% OF THE UK ECONOMY 1 1 Oxford Economics GVA S C IE N C E & T E
Slide 5: What do we mean by Science & Technology?
WHAT DO WE MEAN BY SCIENCE & TECHNOLOGY? LIFE SCIENCES GREEN SCIENCES P H Y S I CA L S C I E N C E S Study of living things and life Technology to reduce Study into non-living systems processes greenhouse gas emissions and objects e.g. pharmaceuticals, cell and e.g. renewable energy, carbon e.g. pho
Slide 6: We are already active in this space
WE ARE ALREADY ACTIVE IN THIS SPACE LIFE SCIENCES GREEN SCIENCES P H Y S I CA L S C I E N C E S DATA , A I A N D T E C H S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.6
Slide 7: The UK is already Europe's leading innovation and technology hub
THE UK IS ALREADY EUROPE’S LEADING INNOVATION AND TECHNOLOGY HUB WORLD CLASS INSTITUTIONS AND THE UK IS EUROPE’S LEADING TALENT POOL INNOVATION & TECHNOLOGY HUB UK has 4 of top 10 leading universities1 UK has Europe's highest number of unicorns3 UK ranked #2 for Nobel Prize winners2 FAVOURABLE POLIT
Slide 8: Golden Triangle
Highly Confidential GOLDEN TRIANGLE S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.8
Slide 9: London is poised for growth
LONDON IS POISED FOR GROWTH LO N D O N I S EP I C ENT RE O F L E A D I N G UN I V E RS I TI ES A N D EU R O P E F O R T EC H & A I R ES EA R CH I N ST I T U TI ONS London ranked #1 in the Global Power City Index1 UCL, Imperial College London, The Francis Crick Home to Google DeepMind, Wise, Monzo In
Slide 10: London is Europe's leading city for AI investment
LONDON IS EUROPE’S LEADING CITY FOR AI INVESTMENT AI VC FUNDING: 2020 TO PRESENT ($BN) 1 KNOWLEDGE QUARTER IS AT THE London CENTRE OF ACTIVITY Paris Munich − UCL & Imperial’s research drives London’s Amsterdam status as Europe’s leading AI location Oxford O VERALL AI I NDEX F O R 2020- PRESENT Berli
Slide 11: We are well placed to succeed
WE ARE WELL PLACED TO SUCCEED RIGHT REAL ESTATE IN THE Modern campuses with excellent connectivity in established clusters RIGHT LOCATIONS Curate amenities, ability for businesses to scale, promoting CAMPUSES serendipitous encounters DEVELOPMENT AND In-house expertise, including lab management speci
Slide 12: Broad range of opportunities
BROAD RANGE OF OPPORTUNITIES ESTABLISHED CLUSTERS EMERGING CLUSTER REGENT’S PLACE, PETERHOUSE CAMPUS, CANADA WATER, LONDON CAMBRIDGE LONDON Located within the heart of the Knowledge Research park within the Cambridge Trialling and testing a ‘blank canvas’ PROPOSITION Quarter innovation cluster Speed
Slide 13: What do we offer?
WHAT DO WE OFFER? LAB ENABLED LAB FITTED WORKSPACE DRY LAB (Wet labs) (Wet labs) Flexible shell & core or Cat A Cat B fit out Access to campus amenities Enhanced power Enhanced air changes Lab drainage Lab ready fixtures & furniture Access to o
Slide 14: Companies across the maturity spectrum taking workspace often with a lab element
COMPANIES ACROSS THE MATURITY SPECTRUM TAKING WORKSPACE OFTEN WITH A LAB ELEMENT T R A D I T I O N A L W O R K S PAC E SCALE UPS E L E M E NT O F L A B S PAC E G LO B A L B U S I N E S S E S L A B S PA C E C O U L D R E P R E S E N T c . 1 5 % O F O U R S C I E N C E & T E C H S PA C E S C IE N C E
Slide 15: Summary
SUMMARY SIGNIFICANT TARGETING A BROAD OPPORTUNITY IN THE OUR CAMPUS MODEL RANGE OF SCIENCE & UK, GOLDEN TRIANGLE IS WELL POSITIONED TECH BUSINESSES & LONDON S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.15
Slide 16: Regent's Place
R E G E N T ’ S P L AC E SIMON HEPHER, BRITISH LAND H e a d o f R e g e n t ’s P l a c e A s s e t M a n a g e m e n t Regent’s Place
Slide 17: London's Knowledge Quarter
LONDON’S KNOWLEDGE QUARTER S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.17
Slide 18: Regent's Place is well positioned to capture growth in Science & Technology
REGENT’S PLACE IS WELL POSITIONED TO CAPTURE GROWTH IN SCIENCE & TECHNOLOGY LOCATED IN LONDON’S ESTABLISHED CLUSTER KNOWLEDGE QUARTER 13 ACRE CAMPUS PROVIDING SUITABILITY OF EXISTING OPPORTUNITY TO GROW BUILDINGS & INFRASTRUCTURE S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2
Slide 19: The evolution of Regent's Place
THE EVOLUTION OF REGENT’S PLACE Drummond Street S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.19
Slide 20: The evolution of Regent's Place
THE EVOLUTION OF REGENT’S PLACE Relation Therapeutics, 338 Euston Road S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.20
Slide 21: The evolution of Regent's Place
THE EVOLUTION OF REGENT’S PLACE 20 Triton Street S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.21
Slide 22: The evolution of Regent's Place
THE EVOLUTION OF REGENT’S PLACE 1 Triton Square S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.22
Slide 23: The evolution of Regent's Place
THE EVOLUTION OF REGENT’S PLACE Euston Tower CGI S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.23
Slide 24: Partnerships established with key institutions
PARTNERSHIPS ESTABLISHED WITH KEY INSTITUTIONS S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.24
Slide 25: 1 Triton Square
1 T R I TO N S Q UA R E A M Y H O C K L E Y, B R I T I S H L A N D H e a d o f S c i e n c e & Te c h n o l o g y L e a s i n g 1 Triton Square
Slide 26: 1 Triton Square JV: The economics
Highly Confidential 1 TRITON SQUARE JV: THE ECONOMICS £149M SURRENDER PREMIUM RECEIVED − Opportunity to capture positive £149M £193M WE RETAIN reversion SURRENDER PROCEEDS 50% OF THE − Opportunity to accelerate our PREMIUM OF THE JV BUILDING science and technology strategy 50:50 JV WITH ROYAL LONDON
Slide 27: Highly Confidential
Highly Confidential
Slide 28: Highly Confidential
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Slide 29: Highly Confidential
Highly Confidential
Slide 30: Capturing reversion, lab and flex premiums
CAPTURING REVERSION, LAB AND FLEX PREMIUMS 1 TRITON SQUARE – INDICATIVE FLOOR PLAN Indicative headline rents: 8 Office Office 7 Office Office Office rents c.£100 psf 6 Terrace Office Office Terrace 5 Offices / Enabled Offices / Enabled 4 Offices / Enabled Offices / Enabled Lab rents c.£110-150 psf 1
Slide 31: Science & Technology: Key Takeaways
SCIENCE & TECHNOLOGY: KEY TAKEAWAYS RIGHT REAL ESTATE, KEY ELEMENT OF OUR BROAD AND FAST LOCATIONS AND CAMPUS STRATEGY GROWING SECTOR CAPABILITIES S C IE N C E & T E C H N O L O G Y U B S T O U R | 2 D E C E M B E R 2 0 2 4 PG.31
Slide 32: Questions
QUESTIONS