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Small Offices and Mixed Use in CAZ
Small Offices and Mixed Use in CAZ Prepared for The GLA 1 By RAMIDUS CONSULTING LIMITED August 2015 Small Offices and Mixed Use in CAZ Contents Page No. Management summary ii 1.0 Introduction 1 1.1 Project background 1.2 Project brief 1.3 Method statement 1.4 Acknowledgements 2.0 Context 6 2.1 Spatial planning 2.2 Commercial office market 2.3 Defining CAZ 2.4 Defining small offices 3.0 Drivers of change 15 3.1 Growth in self-employed businesses 3.2 Change in the occupier market 3.3 A changing business geography 3.4 Small offices and the flexible space market 3.5 Office-to-residential conversion activity 4.0 Occupied stock of small offices 27 4.1 Stock of offices 4.2 Spatial distribution of small units 4.3 The role of multi-let buildings 4.4 Small offices by sector 4.5 Summary 5.0 Trends in demand and supply of small offices 38 5.1 Take-up 5.2 Availability 5.3 Rents 5.4 Summary 6.0 Strategic and local implications of Policy 4.3Bc 48 6.1 Issues and policies for protecting small offices 6.2 Summary 7.0 Implementation of Policy 4.3Aa 53 7.1 Thresholds 7.2 The extent to which housing has been delivered 7.3 Land swaps or packages involving offices and housing 7.4 Mixed use housing credits 7.5 Analysis of development decisions 8.0 The impact of viability on development activity 61 8.1 Overview 8.2 Factors influencing development viability 8.3 Summary 9.0 Conclusions and recommendations 68 9.1 Context 9.2 Providing for small offices 9.3 The distribution of small offices 9.4 Policy issues 9.5 Policy recommendations Prepared for The GLA i By RAMIDUS CONSULTING LIMITED August 2015 Small Offices and Mixed Use in CAZ Management Summary This study examines London’s Central Activities Zone (CAZ) in terms of the supply of, and demand for, small offices and mixed use development, specifically the balance between office and residential development. -
Property Useful Links
PROPERTY - USEFUL LINKS Property - Useful Links 1300 Home Loan 1810 Malvern Road 1Casa 1st Action 1st Choice Property 1st Property Lawyers 247 Property Letting 27 Little Collins 47 Park Street 5rise 7th Heaven Properties A Place In The Sun A Plus New Homes a2dominion AACS Abacus Abbotsley Country Homes AboutProperty ABSA Access Plastics AccessIQ Accor Accord Mortgages Achieve Adair Paxton LLP Adams & Remrs Adept PROPERTY - USEFUL LINKS ADIT Brasil ADIT Nordeste Adriatic Luxury Hotels Advanced Solutions International (ASI) Affinity Sutton Affordable Millionaire Agence 107 Promenade Agency Express Ajay Ajuha Alcazaba Hills Resort Alexander Hall Alitex All Over GEO Allan Jack + Cottier Allied Pickfords Allied Surveyors AlmaVerde Amazing Retreats American Property Agent Amsprop Andalucia Country Houses Andermatt Swiss Alps Andrew and Ashwell Anglo Pacific World Movers Aphrodite Hills Apmasphere Apparent Properties Ltd Appledore Developments Ltd Archant Life Archant Life France PROPERTY - USEFUL LINKS Architectural Association School Of Architecture AREC Aristo Developers ARUP asbec Askon Estates UK Limited Aspasia Aspect International Aspinall Group Asprey Homes Asset Agents Asset Property Brokers Assetz Assoc of Home Information Pack Providers (AHIPP) Association of Residential Letting Agents (ARLA) Assoufid Aston Lloyd Astute ATHOC Atisreal Atlas International Atum Cove Australand Australian Dream Homes Awesome Villas AXA Azure Investment Property Baan Mandala Villas And Condominiums Badge Balcony Systems PROPERTY - USEFUL LINKS Ballymore -
Development Securities PLC Annual Report 2006
Development Securities PLC Annual Report 2006 1 Financial highlights Development Securities PLC Annual Report 2006 Financial highlights £23.6m 6.75p 63.4p Profit after tax Annual dividends per share Earnings per share £231.4m £14.4m 568p Net assets Net borrowings Net assets per share Net assets per share Earnings per share Dividends per share 06 568* 06 63.4* 06 6.75* 05 510* 05 54.8* 05 6.37* 04 472* 04 54.3* 04 6.0* 03 444 03 4.2 03 5.4 02 423 02 26.9 02 5.0 01 423 01 24.0 01 4.5 Contents 02 Chairman’s statement 04 Our strategy 12 Review of operations 18 Property investment portfolio 22 Sustainability report 24 Board of Directors 26 Report of the Directors 28 Corporate governance 32 Contents of the financial statements 68 Remuneration report 76 Financial calendar and advisors *stated in accordance with IFRS 2 Chairman’s statement Development Securities PLC Annual Report 2006 Chairman’s statement I am pleased to report another very for other potential property acquisitions. The growing size and strength of our satisfactory year for your Company, We were pleased with the strength of support balance sheet, recently augmented by the resulting in a significant uplift in demonstrated by both existing and new £23.1 million share placing, supports our shareholder funds. shareholders for this successful placing. adjusted business model, whereby we now consider it appropriate to secure direct An increased contribution from our development Strategy ownership of land for development. Our recent activities, coupled with a strong performance Shareholders will be aware that the strategic £33.5 million acquisition of Curzon Park, in from our property investment portfolio enables focus of our development activities over the equal partnership with Grainger PLC, is a me to report a profit after tax of £23.6 million last two years has been suburban London case in point. -
The Intu Difference Intu Properties Plc Annual Report 2016 Welcome to Our Annual Report 2016
The intu difference intu properties plc Annual report 2016 Welcome to our annual report 2016 Our purpose is to create compelling, joyful experiences that surprise and delight our customers and make them smile. We are a people business and everything we do is guided by our culture and our values. We’re passionate about providing people with their perfect shopping experience so that our retailers flourish. And it’s this that powers our business, creating opportunity for our retailers and value for our investors; benefiting our communities and driving our long-term success. Contents Overview Governance Highlights of 2016 2 Chairman’s introduction 58 Our top properties 4 Board of Directors 60 Executive Committee 62 Strategic report The Board 63 Chairman’s statement 6 Viability statement 68 Chief Executive’s review 8 Audit Committee 69 Our growth story 10 Nomination and Review Committee 74 Investment case 12 Directors’ remuneration report 76 Directors’ report 94 The intu difference Statement of Directors’ responsibilities 96 Making the difference 14 Understanding our markets 16 Financial statements Optimising asset performance 18 Independent auditors’ report 98 Delivering UK developments 20 Consolidated income statement 106 Making the brand count 22 Consolidated statement of Seizing the growth opportunity in Spain 24 comprehensive income 107 At the heart of communities 26 Balance sheets 108 Our business model 28 Statements of changes in equity 109 Relationships 30 Statements of cash flows 112 Strategy overview 32 Notes to the financial statements -
L1 Capital UK Residential Property Fund Information Memorandum
L1 Capital UK Residential Property Fund Information Memorandum ARSN 620 381 704 | APIR ETL3930AU Date issued 27 July, 2017 Investment Manager Responsible Entity L1 UK Property Investments Pty Ltd Equity Trustees Limited ABN 55 619 264 096 ABN 46 004 031 298 | AFSL 240975 Authorised representative (No. 001 255 692) of Phone: 1300 555 378 L1 Capital Pty Limited www.eqt.com.au/insto ABN 21 125 378 145 | AFSL No. 314302 Information Memorandum L1 Capital UK Residential Property Fund 1 Important Information This is the Information Memorandum (“IM”) for Units in None of the Responsible Entity, the Investment Manager, the L1 Capital UK Residential Property Fund ARSN 620 381 L1 Capital, the Administrator or their respective employees, agents or officers: 704 (referred to as the “Fund”) and was issued on 27 July 2017. (i) makes any representation or warranty as to, or takes This IM has been issued by Equity Trustees Limited (ABN 46 responsibility for, the accuracy, reliability or completeness of the 004 031 298 AFSL 240975) in its capacity as responsible entity information contained in this IM; or and trustee of the Fund (referred to throughout this IM as (ii) guarantees the success, repayment of capital or any rate the “Responsible Entity” or “Equity Trustees”). The investment of return on income or capital or investment performance manager of the Fund is L1 UK Property Investments Pty Ltd and of the Fund. Past performance is not an indication of future is referred to throughout this IM as the “Investment Manager”. performance. The target return on any investment may be affected by assumptions or by unknown risks. -
The Intu Difference Intu Properties Plc Annual Report 2016 Worldreginfo - 8E4943b6-Fa4a-40D5-Abcb-Fc207366b72c Welcome to Our Annual Report 2016
The intu difference intu properties plc Annual report 2016 WorldReginfo - 8e4943b6-fa4a-40d5-abcb-fc207366b72c Welcome to our annual report 2016 Our purpose is to create compelling, joyful experiences that surprise and delight our customers and make them smile. We are a people business and everything we do is guided by our culture and our values. We’re passionate about providing people with their perfect shopping experience so that our retailers flourish. And it’s this that powers our business, creating opportunity for our retailers and value for our investors; benefiting our communities and driving our long-term success. Contents Overview Governance Highlights of 2016 2 Chairman’s introduction 58 Our top properties 4 Board of Directors 60 Executive Committee 62 Strategic report The Board 63 Chairman’s statement 6 Viability statement 68 Chief Executive’s review 8 Audit Committee 69 Our growth story 10 Nomination and Review Committee 74 Investment case 12 Directors’ remuneration report 76 Directors’ report 94 The intu difference Statement of Directors’ responsibilities 96 Making the difference 14 Understanding our markets 16 Financial statements Optimising asset performance 18 Independent auditors’ report 98 Delivering UK developments 20 Consolidated income statement 106 Making the brand count 22 Consolidated statement of Seizing the growth opportunity in Spain 24 comprehensive income 107 At the heart of communities 26 Balance sheets 108 Our business model 28 Statements of changes in equity 109 Relationships 30 Statements of cash flows 112 -
A Transformational Year of Growth for the Company Following the Completion of the All-Share Merger with Medicx Fund Limited (“Medicx”) on 14 March 2019
Primary Health Properties PLC Primary Health Properties PLC Annual Report 2019 Annual Report 2019 A transformational year of growth “ 2019 has been a transformational year in PHP’s history following the completion of the all-share merger with MedicX in March 2019, bringing together two high quality and complementary portfolios in the UK and Ireland. The business provides a much stronger platform for the future and has already created significant value delivering a total shareholder return of 49.2% in the year. We have also delivered the operating synergies of £4.0 million per annum outlined at the time of the merger, as well as a 50bp reduction in the average cost of debt. We have continued to selectively grow the enlarged portfolio, particularly in Ireland where we believe there is a significant opportunity, and further strengthened the balance sheet with a successful, oversubscribed £100 million equity issue, £150 million unsecured convertible bond issue and €70 million Euro-denominated private placement loan note. PHP’s high quality portfolio and capital base have helped to deliver another year of strong earnings performance and our 23rd consecutive year of dividend growth. Continuing improvements to the rental growth outlook and further reductions in the cost of finance will help to maintain our strategy of paying a progressive dividend to shareholders which is fully covered by earnings, as we look forward to the future with confidence.” Harry Hyman Managing Director Strategic report Corporate governance Financial statements Further -
At Intu We Create Compelling Experiences That Surprise and Delight Our Customers
Intu Properties plc At intu we create compelling experiences that surprise and delight our customers Annual Report 2014 Intu Properties plc Annual Report 2014 We aim to attract people for longer, more often, which helps our retailers flourish What’s inside this report This powers our business, report Strategic creating value for our retailers, our communities and our investors and drives our long-term success Governance Contents Strategic report Corporate responsibility Accounts Overview Better together 48 Independent auditors’ report 88 At a glance 2 Communities and Consolidated income statement 94 2014 highlights 4 economic contribution 49 Consolidated statement Chairman’s statement 6 Environmental efficiency 50 of comprehensive income 95 Relationships 52 Balance sheets 96 Business model and strategy Statements of changes in equity 97 Business model 8 Governance Statements of cash flows 100 Corporate responsibility approach 10 Board of Directors 54 Notes to the accounts 101 Market review 12 Executive management 56 Strategy 14 Governance 57 Other information The Board 58 Investment and development Interview with the Chief Executive 16 Accounts property 151 Strategic review 18 Relations with shareholders 62 Financial covenants 153 Focus on new developments 26 Audit Committee 63 Group including share of joint ventures 155 Top properties 28 Nomination and Review Committee 68 Underlying profit statement 157 Key performance indicators 30 Directors’ remuneration report 71 EPRA performance measures 158 People 32 Directors’ report 84 Financial -
11 March 2021 Savills Plc ("Savills" Or "The Group") PRELIMINARY RESULTS for the FULL YEAR ENDED 31 DECEMBE
11 March 2021 Savills plc ("Savills" or "the Group") PRELIMINARY RESULTS FOR THE FULL YEAR ENDED 31 DECEMBER 2020 FULL YEAR PERFORMANCE REFLECTS STRENGTH OF GLOBALLY DIVERSIFIED BUSINESS Savills plc, the international real estate advisor, today announces its preliminary results for the year ended 31 December 2020. Key financial highlights Group revenue down 9% to £1.74bn (2019: £1.91bn*) as resilient revenues from less transactional services significantly mitigated reduction in transaction volumes Underlying** profit before tax £96.6m (2019: £143.4m) Statutory profit before tax £83.2m (2019: £115.6m) Statutory basic earnings per share (‘EPS’) 49.0p (2019: 60.6p) Final ordinary dividend of 17.0p reflecting the resilience of the less transactional business performance Net cash £177.7m (2019: £28.5m) * See Note 1(b) for details on the prior year restatement of revenue. ** Underlying profit before tax ('underlying profit') is calculated on a consistently reported basis in accordance with Note 3 to this Preliminary Statement. Key operating highlights Resilient performance reflects geographic diversity (59% non-UK revenue) and strength of less transactional service lines (62% of Group revenue, versus 57% in 2019) Less transactional services revenues down 1% as Property and Facilities Management businesses performed well, underlying profit up 4% to £91.1m Savills global Transaction Advisory revenues declined by 19% as the pandemic significantly reduced the volume of transactions worldwide Increased Commercial Transaction Advisory market -
Annual Report and Accounts Savills Plc Savills Plc Report and Accounts 2019
2019 Annual Report and Accounts Savills plc Savills plc Report and Accounts 2019 Our purpose Our purpose is to assist and advise a wide range of clients to realise their diverse property goals. Our vision CONTENTS To be the property partner of choice for private, institutional and corporate clients seeking to Overview acquire, manage, lease, develop or realise the 01 Group highlights value of prime residential and commercial 02 Savills at a glance property in the world’s key locations. Strategic Report Culture and values 04 Chairman’s statement 06 Our business explained Savills has a strong and well embedded culture, 08 Market insights founded on an entrepreneurial approach and 14 Key Performance Indicators underpinned by our values and operational 16 Chief Executive's review standards. We recognise our responsibility as a 22 Chief Financial Officer’s review global corporate citizen and we are committed 24 Material existing and emerging risks and to doing the right thing in the right way. uncertainties facing the business 31 Viability statement Our values 32 Stakeholder engagement with s.172 35 Responsible business Pride in everything we do 47 Non-financial information statement 2019 Take an entrepreneurial approach to business Governance Help our people fulfil their true potential 48 Corporate Governance Statement 48 Chairman’s introduction Always act with integrity 50 Board of Directors 54 Group Executive Board Read more about these on page 35 58 Corporate Governance 68 Audit, Risk and Internal Control 69 Audit Committee report 78 -
Executive Compensation in UK Property Companies
J Real Estate Finan Econ (2008) 36:405–426 DOI 10.1007/s11146-008-9107-5 Executive Compensation in UK Property Companies Piet M. A. Eichholtz & Nils Kok & Roger Otten Published online: 29 January 2008 # Springer Science + Business Media, LLC 2008 Abstract We study the drivers of executive compensation in the listed UK property sector. The UK provides an excellent opportunity to analyze executive compensation due to high transparency in the different components of executive compensation. We show that company size is the most important variable in explaining the level of executive compensation. We find that absolute and relative share performance significantly explains long-term compensation, that management style has a distinct influence on the level of executive compensation, and that using alternative monitoring mechanisms (institutional shareholders, debtholders, and outside direc- tors) leads to higher levels of long-term incentives. We find only weak evidence of pay-performance sensitivity for both cash and long-term compensation. Executive shareholdings provide a much stronger link between pay and performance than does executive compensation. Keywords Corporate governance . Executive compensation . Real estate JEL Classification G34 . G35 . J33 Introduction Recently, the often very extensive executive compensation packages, which were originally designed to alleviate the agency problem between managers and shareholders, have attracted intense scrutiny by regulators, the general public, and academics. This scrutiny is fuelled by recent corporate scandals at companies such as Ahold and Enron, and by management pay hikes at times of worker lay-offs. Therefore, more emphasis has been put on the structure of executive compensation packages. P. M. A. Eichholtz (*) : N. -
Primary Health Properties Plc (Lon: Php)
PRIMARY HEALTH PROPERTIES PLC (LON: PHP) 20 February 2020 Real Estate Primary Health Properties - Winning returns, lowest costs 52-WEEK HIGH £163.40 52-WEEK LOW £116.20 Strong results for 2019, well positioned for 2020 PRICE £161.80 MARKET CAP MLN £1,946.08 Primary Health Properties PLC (LON:PHP) recently announced its full-year results to December 2019. These were in line with our forecast and confirmed a strong year for the company. Earnings per share as measured by the adjusted EPRA EPS (see footnotes to the table) grew by 5.8%, and the Share Price dividend (full-year total) was increased to 5.6p. Following the transformational merger with MedicX (another primary healthcare real estate investment trust, or REIT) in March 2019, the company has fully delivered on the key merger objectives – integrating the companies, a reduction of £4mln in the cost base, and financing cost reduced by half a percentage point to 3.5%. The success of the merger was a significant contributor to the strong share performance in the year, in our view. Drivers for 2020 Major Shareholders With the merger objectives largely complete, we believe that the focus for 2020 returns to the more organic value drivers. The company has six new Blackrock inc 5.0% developments on site for completion in 2020, and a pipeline of property Investec Wealth & Investment 5.0% acquisition targets. Furthermore, we expect to see more asset management CCLA Investment Management 4.9% projects to increase the value of the existing portfolio. In addition, we believe Shares in issue 1,216,321,774 that there will be a continuation of the improved trend in rental uplifts in the Avg Three-month trading 3,013,559 UK market.