Office giant British Land is seeking fresh investment opportunities in the West End.
According to a report from a Bloomberg news agency, the company is shifting its focus away from the City of London in a bid to maximise rental returns.
Currently, over 60 per cent of its office portfolio is in the capital’s main financial district.
The move comes amid a decline in rental values in the City as the downturn of the last few years continues to impact on demand.
Chief Executive Officer Chris Grigg said: “We would be perfectly comfortable with 50 percent or more of our offices in the West End.
“If you look at the rental performance of the West End over the City, you see better long-term growth.”
Over 2008 and 2009, British Land’s commercial property holdings slumped in value by £4.8 billion.
Last year, the firm offloaded a 50 per cent stake in the Broadgate complex to US private equity company Blackstone Group in a deal worth £1 billion.