May 22 (Reuters) - Landlord British Land said it expects annual rental growth of 3% to 5%, buoyed by high occupancy and strong leasing at its properties, even as it saw 214 million pounds ($272.7 million) wiped off its portfolio in the 2024 fiscal year.

High interest rates and incessant macro-economic worries have dampened a tentative recovery in the highly leveraged British commercial property sector from pandemic lows, while the office space portfolio has struggled amid evolving work habits.

The Broadgate owner, with a portfolio chiefly comprising office spaces and retail parks, said underlying profit before tax rose 2% from a year earlier to 268 million pounds for the year ended March 31, beating company-compiled analysts' consensus estimates of 259 million pounds.

The company said leasing at its office-focused 'Campuses' was 13.1% ahead of the estimated rental value so far in the current financial year.

The London-based company said its EPRA net tangible assets - a key measure that reflects the value of its buildings - fell 4.4% to 562 pence per share, as of March 31. ($1 = 0.7846 pounds) (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Krishna Chandra Eluri)