London Portfolio objectives
"We have maintained momentum in a demanding environment. Sales and lettings were above valuation, voids are down and our weighted average unexpired lease term has increased. We continued to reduce risk at major development schemes, crystallised value and created new opportunities through planning success."
Key objectives 2012/13
- Outperform IPD sector benchmark
- Progress development lettings at One New Change, EC4, 123 Victoria Street, SW1, 62 Buckingham Gate, SW1 and 20 Fenchurch Street, EC3
- Practical completion on time and to budget at Wellington House, SW1 and 123 Victoria Street, SW1
- Progress on time and to budget at 62 Buckingham Gate, SW1 and 20 Fenchurch Street, EC3
- Demolition of Kingsgate House, SW1 and commencement of demolition at Victoria Circle, SW1
- Submission of planning applications at Portland House, SW1 and Oxford House, W1
How we create value
We aim to deliver growing rental income streams and higher asset values over the long term by:
- Developing assets early in the cycle to maximise returns
- Acting decisively to crystallise value and recycle capital
- Creating high quality products that meet customers' changing needs
- Being inventive and energetic in the way we manage our assets
- Establishing partnerships to deliver and de-risk major developments
