The value of prime retail outlets in Dublin owned by the British Land property combine surged 14 per cent to £121 million sterling (€184.6 million) in the 12-month period to March 31st, says the company in its annual accounts, writes Sebastian Taylor.

If anything, the uplift in value is understated as last year's valuation of £105.8 million included two office blocks in the Customs House joint venture that were sold last year and not included in the new valuation.

Dublin retail outlets owned by British Land embrace the 28,000 sq m St Stephen's Green Shopping Centre and 8,400 sq m Swan Centre in Rathmines, together with a joint interest with Great Universal Stores in the long lease of a 2,600 sq m shop located at 28/29 Grafton Street.