Has the landscape changed for British Land shares?

first_img Image source: Getty Images Enter Your Email Address I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Karl has no position in any of the shares mentioned. The Motley Fool UK has recommended British Land Co. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. “This Stock Could Be Like Buying Amazon in 1997” Has the landscape changed for British Land shares?center_img It was no surprise this month when FTSE 100 property company British Land (LSE: BLND) said the coronavirus and lockdown helped wipe out about £1bn from its property portfolio. The value of retail property, after all, is not likely to be at its highest at the moment. However, longer-term trends and issues may have an even greater impact.Short-term problemsBritish Land said that for the 12 months to March, about 10% of the value of its property portfolio – some £1.1bn – was wiped out. A decline in its retail developments mostly accounted for this.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…British Land owns large retail park, store and shopping centre properties that are naturally taking a hit right now. According to the company, retailers on its estate paid just 45% of rents in March. As CEO Chris Grigg said: “It’s not like retailers are having an easy time right now.”Though the reopening of non-essential stores should help this problem over the next few months, Mr Grigg has already said he doesn’t “expect it to be any easier” by the next payment deadline in June.Interestingly, the company received about 97% of its rent from office facilities, another area we may have expected to lapse given so many people have been working from home.Long-term problems for British LandOf far greater concern for me, however, is the potential fundamental shift we may see in the way people work and shop after lockdown ends. At the very least, there will be a lag between stores technically being reopened with strong social distancing measures limiting capacity and people feeling like there is no longer any risk. It could easily be a year before retail  as well as socialising and working) start to look like they used to.And this doesn’t take account of a bigger shift in culture. Working from home, for example, has been a necessity that has many firms thinking it should be a permanent fixture for their businesses.Lockdown has shown it is possible to do, while both employees and employers are incentivised to do it. For a company, travel and office rental costs will both be lower, while employee satisfaction could be up. Well, who doesn’t prefer not having to commute?These fundamental shifts could easily mean less office space is needed, and so British Land may just see a long-term downshift in its office portfolio too.Shopping onlineSimilarly, the increase of shopping online during lockdown may well shift many consumers towards e-commerce. This is an area that British Land has already warned was changing the nature of its portfolio. If more people continue to shop online, warehouse space will be needed over the large retail space where British Land makes its money.If it can adapt, it is possible that the current share pricemay be a bargain, but for me there is just too much uncertainty in the market right now. I will, however, be watching this space. Karl Loomes | Thursday, 28th May, 2020 | More on: BLND Simply click below to discover how you can take advantage of this. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. 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