Highlights

  • Trinity Leeds development restarted and now 57.5% pre-let or in solicitors’ hands. Delivery in spring 2013
  • John Lewis to open at home shops in Chester and Exeter
  • Two new stores opened for Sainsbury’s
  • £329.8m of acquisitions at an average yield of 6.3%
  • £264.1m of sales at 6.1% above March 2010 valuation at an average yield of 6.0%
  • £27.2m of lettings with a further £9.4m in solicitors’ hands
  • Named Property Manager’s Association Landlord of the Year and Estates Gazette’s Property Company of the Year in Retail

Chart 28

Retail like-for-like – rental and capital value trends

12 months ended 31 March 2011

Chart 29

Voids and units in administration % – like-for-like Retail Portfolio


Chart 30

Retail Portfolio by capital value


Chart 31

Retail Portfolio floorspace under management

Chart 32

Retail Portfolio – tenant diversification

Table 33 – Top 10 retail tenants


% of
Group rent
Sainsbury’s 2.0
Arcadia Group 1.7
Dixons Retail 1.5
Next 1.4
Boots 1.4
Marks &Spencer 1.1
H&M 1.1
Home Retail Group 1.0
Tesco 1.0
New Look Group 0.8

13.0
Retail other (excluding Accor) 40.4
Total (all retail tenants) 53.4