After a gap of over two long years, one of UK's largest and top ranked real estate investment trusts, British Land Co's properties surged in value, leading to the firm posting a successful and profitable second-quarter report. For the three month period up-to September 30, the firm posted earnings of 161 Million Pounds ($271 Million), a substantial improvement from the 747 Million Pounds loss reported for the same period last year.

Total value of properties currently under British Land's wings recorded a 1.4% hike to 5.5 Billion Pounds during the second quarter. This has been the first rise recorded by the investment firm in its property values since July 2007.

“While there have been encouraging signs in the market in recent months, it is not yet clear that all sectors of the market have stabilized", said Chief Executive Officer Chris Grigg.

In September, British Land had agreed to sell 50% of its Broad gate office building, situated in London, to Blackstone Group to cut debts and make the most of lower prices to make more acquisitions. The office building in question is British Land's biggest asset.

As per the latest figures shared, British Land shares fell by 1.2%, or 6.2 pence, to a trading price of 497.3 pence. Currently, the firm has a complete market value of nearly 4.3 Billion Pounds.