Property giant is expected to reveal a 10% fall in assets when it reveals results on Thursday

British Land is due to reveal that more than £1.3bn has been wiped off its property portfolio this week, according to the Sunday Times.

British Land
Euston station

Analysts at Deutsche Bank predict the group’s net asset value per share will have fallen by more than 16% since the end of September 2007 to about 1,400p per share when it announces its third-quarter results on Thursday.

Observers say that would mean a fall of at least 10% in the value of the group’s £13.2bn property portfolio

The company is the first of the big listed property stocks to announce its results since the current market turmoil kicked in.