We have made every effort to keep our website free of jargon but realise some words, phrases and acronyms may need further explanation. Our glossary contains definitions for business and financial terms used throughout this site.

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Net Gearing. Total borrowings, including bank overdrafts, less short-term deposits, corporate bonds and cash, at book value, plus cumulative mark-to-market adjustment on financial derivatives as a percentage of total equity.
Gross income yield
The annual cash net rent on investment properties (including those tenants in administration) expressed as a percentage of the valuation ignoring costs of purchase or sale.
Gross estimated rental value
The estimated market rental value of lettable space as determined biannually by the Group’s valuers for all properties except ongoing developments where the Group estimates the gross rental value.
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