Retail Portfolio objectives
"Despite the impact of weak consumer confidence and the failure of some retailers, we have made good progress. Our developments are letting up well to major retailers and our strategy is well matched to a fast evolving market."
Key objectives 2012/13
- Outperform IPD sector benchmark
- Progress development lettings at Trinity Leeds, Buchanan Street, Glasgow and out-of-town schemes
- Complete Trinity Leeds and Buchanan Street, Glasgow on time and to budget
- Commence out-of-town developments at Taplow, Peterborough, Crawley and Chadwell Heath
- Enter into a development agreement with Oxford City Council for Westgate Centre, Oxford
- Progress discussions on potential developments in Glasgow and Exeter
How we create value
We aim to deliver growing rental income streams, higher investment values and future development opportunities by:
- Forming close relationships with retailers and Local Authorities, so we can respond to people's changing needs and ensure our portfolio fits the market
- Developing major new shopping and leisure assets that can transform undervalued areas into thriving destinations
- Recycling capital to find and improve under-used assets so we can unlock value
- Owning assets able to thrive in a fast-changing retail environment
- Using our asset management expertise to make locations more attractive to shoppers and retailers
