British Land Company PLC

Operating leases with tenants

The Group leases out all of its investment properties under operating leases with a weighted average lease length of 13 years. The future aggregate minimum rentals receivable under non-cancellable operating leases are as follows:

	2009 £m	2008 £m
Less than one year	382	538
Between two and five years	1,508	2,092
Between six and ten years	1,552	2,199
Between eleven and fifteen years	850	1,629
Between sixteen and twenty years	470	788
After twenty years	730	1,140
	5,492	8,386

Contingent rents of £3m (2008: £1m) were recognised in the year.

The Group's leasehold investment properties are typically under non-renewable leases without significant restrictions. Finance lease liabilities are payable as follows, no contingent rents are payable in either period:

	2009				2008
	Minimum lease payments £m	Interest £m	Principal £m		Minimum lease payments £m	Interest £m	Principal £m
British Land Group
Less than one year	1	1			2	2
Between one and two years	1	1			2	2
Between two and five years	3	3			8	7	1
More than five years	108	94	14		220	186	34
	113	99	14		232	197	35