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Commercial property firm British Land reported a slight rise in its half-year profit on Wednesday, attributing operational strength in its retail park properties to counteracting valuation weakness in its office-focused campuses. The British commercial property market is recovering from the post-pandemic freeze, with stabilizing property values and expectations of near-term rate cuts boosting sector optimism. According to British Land CEO Simon Carter, the group's strategy of increasing investments in retail parks is proving successful. He noted that retailers are seeking cost-effective out-of-town spaces for their online operations, which is driving strong rental growth and valuation increases in the sub-sector. The company, which blends leisure, retail, and hospitality facilities at its office-focused 'Campus' developments, stated that its EPRA Net Tangible Assets—a key measure reflecting the value of its buildings—increased by 0.2 per cent, reaching 567 pence as of September 30, compared to the valuation at the end of March. It reported that the value of its retail park assets, which make up about a third of its overall portfolio, rose by 5.1 per cent since March, while the office-focused Campuses experienced a 1.7 per cent decline in valuation. Following the accretive $560.2 million retail park portfolio acquisition and a share placement last month, the company raised its full-year earnings per share forecast to 28.1 pence, up from the previous estimate of 27.9 pence.