“Come big and come once,” was the message from shareholders to Chris Grigg, British Land’s new chief executive, as he drew up plans for its £740m capital-raising.

“You get a lot of free advice as a new chief executive,” he says, looking relaxed after spending much of the night overseeing the real estate sector’s largest rights issue. “Some of it is even good, and the message was clear – don’t come back again in 12 months’ time.”