Commercial property organisation British Land has been accredited as a living wage employer by the Living Wage Foundation.
The organisation has committed to paying its 680 permanent employees and third-party contractors who work at its three London mixed-use campuses, based at Broadgate, Paddington Central and Regent’s Place, at least the voluntary London living wage of £9.75 an hour.
The living wage is an independently set hourly rate of pay that is calculated according to the basic cost of living. It is paid by employers on a voluntary basis and is updated annually. The living wage is currently set at £8.45 an hour for UK-based employees, and the London living wage rate is £9.75 an hour to reflect the increased costs of residing in the capital.
The voluntary living wage is distinct from the statutory national living wage, which is paid to employees aged 25 and over. The national living wage rate currently stands at £7.50 an hour.
Lucinda Bell, chief financial officer at British Land and chairman at Broadgate Estates, said: “At British Land we believe that those who work for us, either our employees or contractors, should be treated fairly and that everyone who works full time across our businesses should have sufficient income to care for themselves and their families. We are therefore proud to have been recognised with this important accreditation at all three of our central London campuses.”