Prime Property Portfolio £8.6 billion
- Continued reshaping of portfolio
- £1.9 billion of property sales in the year
- Properties owned or managed £12.3 billion
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Income Longevity and Security
- High occupancy, portfolio 96% let1
- 13 years average lease length remaining
to first break, 15 years to expiry
- Only 6% of rent up for renewal before
March 2012
- 98% of rent subject to upwards only
rent reviews/fixed uplifts
- Broad diversity of customers and industries
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Balance Sheet Strength
- £740 million proceeds from Rights Issue
- 12.7 years average debt maturity2
- Debt at 5.3% pa2
- Substantial undrawn bank facilities available
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1 Includes accommodation subject to asset management initiatives and under offer
2 Includes share of Funds and Joint Ventures