PROPERTY firm British Land, which shelved the sale of its Meadowhall shopping centre last year, said today that the value of its £18bn property portfolio has fallen by 8.9% because of the global credit squeeze.

In a third quarter trading statement the group said that its quarterly net asset value fell 16.7% to £14 per share, but chairman Chris Gibson-Smith said: "Macro-economic uncertainty and the global credit crunch have depressed property values. However, the worst should now be behind us, though uncertaintie......for the full story register now for free or login below...