Portfolio Statistics

Lease profile


Wholly-owned Share of joint ventures
Rent roll
£m
Reversionary
potential
£m
Rental
values
£m
Rent roll
£m
Reversionary
potential
£m
Rental
values
£m
Total rental
values
£m
London North of
Oxford Street
Office 24.2 0.8 25.0 2.4 0.2 2.6 27.6


Retail 4.7 0.1 4.8 4.9 1.0 5.3 10.1

Rest of
West End
Office 3.5 0.1 3.6 7.3 0.6 7.9 11.5


Retail 2.6 0.8 3.4 5.3 5.3 8.7

Total
West End

35.0 1.8 36.8 19.3 1.8 21.1 57.9

City and
Southwark
Office 8.2 1.6 9.8 5.9 1.1 7.0 16.8


Retail 0.9 0.4 1.3 0.1 0.1 1.4

Total City
and Southwark
9.1 2.0 11.1 6.0 1.1 7.1 18.2
Total let portfolio 44.1 3.8 47.9 25.3 2.9 28.2 76.1
Voids

1.5

1.9 2.8
Premises under refurbishment

11.9

14.1 25.4
Total portfolio

60.7

43.6 104.3

Rent roll security, lease lengths and voids




Wholly-owned
Joint ventures
Rent roll
secure for
five years
%
Weighted
average
lease length
years
EPRA
vacancy
%
Rent roll
secure for
five years
%
Weighted
average
lease length
years
EPRA
vacancy
%
London North of
Oxford Street
Office 39.9 5.3 2.8 0.4 2.5 7.5


Retail 62.3 5.3 1.8 75.7 8.3

Rest of
West End
Office 1.7 17.3 3.5 2.1


Retail 6.0 2.1 4.0 76.1 11.4 0.5

Total
West End

36.1 4.7 2.4 45.5 6.7 3.8

City and
Southwark
Office 53.1 5.8 2.3 62.2 5.2 0.7


Retail 72.2 9.1 1.1 83.3 9.4

Total City
and Southwark
54.9 6.2 2.7 62.7 5.3 0.9
Total let portfolio
40.0 5.0 2.5 49.7 6.4 3.0

Rental values and yields


Wholly-owned Joint ventures Wholly-owned Joint ventures
Average
rent
£psf
Average
ERV
£psf
Average
rent
£psf
Average
ERV
£psf
Initial
yield
%
True
equivalent
yield
%
Initial
yield
%
True
equivalent
yield
%
London North of
Oxford Street
Office 40 48 26 44 4.2 5.2 3.8 5.2


Retail 29 39 70 82 4.5 5.0 4.8 4.9

Rest of
West End
Office 30 33 36 38 3.1 4.4 5.2 5.4


Retail 43 61 48 48 2.7 4.4 4.7 4.9

Total
West End
37 45 42 45 3.8 4.9 4.8 5.1

City and
Southwark
Office 26 32 35 38 3.9 6.0 3.8 6.2


Retail 21 33 39 38 4.1 5.8 6.1 6.5

Total City
and Southwark
26 32 35 37 3.9 5.9 3.8 6.2
Total portfolio
34 41 40 42 3.8 5.1 4.5 5.4