Highlights

  • Park House, W1, development started and subsequently sold for total consideration of £296m
  • One New Change, EC4, opened on 28 October with the retail element fully let
  • Joint venture formed with Canary Wharf Group to develop 20 Fenchurch Street, EC3
  • £29.8m of lettings in the period with a further £2.8m in solicitors' hands
  • £10.3m of conditional lettings to Primark in Oxford Street, W1, and Telecity at Harbour Exchange, E14
  • 54 of the 59 residential apartments at Wellington House, SW1, pre-sold
  • Three further developments started and proposed to start in 2011 for completion in 2012 and 2013

Chart 41

London Portfolio like-for-like – rental and capital value trends

12 months ended 31 March 2011

Chart 42

Voids and units in administration – like-for-like portfolio


Chart 43

London Portfolio by capital value


Chart 44

London Portfolio floorspace under management

Chart 45

London Portfolio – tenant diversification

Table 46 – Top 10 office tenants (% of rent)


% of
Group rent
Government 7.7
Royal Bank of Scotland 2.6
Deloitte 2.6
K&L Gates 1.6
Bank of New York Mellon 1.5
Taylor Wessing 1.3
Metropolitan Police 1.1
EDF Energy 1.0
Microsoft 0.8
Speechly Bircham 0.7

20.9
Office other 21.2
Total (all office tenants) 42.1