Annual Report & Accounts 2006

Overview

Our most distinctive features

Largest UK
property portfolio–

continuous asset
selection
Quality assets,
best property in
prime locations
Focused business–
97% of portfolio in
Retail and London
Offices
Long leases,
sustainable, assured
cash flows
Earnings growth
built in and with
further potential
Actively adding value –
intense pursuit of
asset management
and development gains
Secure risk profile,
consistent,
integrated
business model
Financial acumen,
accomplished
deal-making and
capital structuring
Superior
total returns,

outperforming
competitors
Able management,
a key to all we do
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