British Land

The British Land Company was founded in 1856 as an offshoot of the National Freehold Land Society formed in 1849 with the two chief architects of the freehold land movement Richard Cobden and John Bright. Both were ardent supporters of a movement to extend enfranchisement. To qualify for a parliamentary vote it was then necessary to be a landowner and the main object of the National Freehold was to facilitate the acquisition of small plots of land by the people. To do this the British Land Co. would purchase land and then resell it on the best terms to any customer who wanted to buy it. With the extension of the franchise, this reason ceased to govern the operation of the company, and it began to operate as a normal business in the latter part of the nineteenth century.In 2004 it received planning permission for a Richard Rogers designed skyscraper at 122 Leadenhall Street, known informally as "The Cheese Grater" in the City of London. Construction of the tower, which is the 6th tallest building in the United Kingdom, began in October 2007 and was completed in 2014.In May 2005 British Land announced that it had agreed to purchase Pillar Property Plc for £811 million in cash to boost its position in the out-of-town retail property sector.In 2006 Sir John Ritblat, who had chaired the company since 1970, stood down and was replaced by Chris Gibson-Smith.In March 2019, the company appointed Tim Score as the chair of its board.In September 2020, British Land announced that its chief executive Chris Grigg would exit the company December of that year. He was succeeded by the firms chief financial officer Simon Carter in November 2020.In November 2020, British Land wrote down the value of its portfolio by almost £1bn after retail income fell due to the COVID-19 pandemic in the United Kingdom.