DOCSLIB.ORG

British Land Annual Report and Accounts 2011

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
British Land Annual Report and Accounts 2011 Performance review Governance Financial statements Other information Pages 71–105 Pages 107–131 Pages 133–180 Pages 181–184 WE’RE BRITISH LAND Annual Report and Accounts 2011 Annual Report and Accounts BUILDING THE BEST BEST THE BUILDING INVESTMENT REAL ESTATE TRUST IN EUROPE 8231 2 Report 2011 01 to 70 Amedned URLs_Report 2011 13/06/2011 11:45 Page FC1 The British Land Company PLC Annual Report and Accounts 2011 8231 2 Report 2011 01 to 70 Amedned URLs_Report 2011 13/06/2011 11:45 Page IFC1 OUR PERFORMANCE UNDERLYING PROFIT BEFORE TAX1 NET ASSET VALUE PER SHARE2 £256m 567p 2010: £249m 2010: 504p UNDERLYING EPS1 IFRS NET ASSETS 28.5p £4,930m 2010: 28.4p 2010: £4,208m IFRS PROFIT BEFORE TAX PORTFOLIO VALUATION3 £830m £9,572m 2010: £1,128m 2010: £8,539m DIVIDEND PER SHARE TOTAL (ACCOUNTING) RETURN1 26.0p 17.7% 2010: 26.0p 2010: 33.5% 1 For definition see glossary of terms. 2 EPRA (European Public Real Estate Association) basis. 3 Proportionally consolidated. Forward-looking statements This Report contains certain ‘forward-looking’ statements reflecting current views on, among other and information contained in this Report relating to British Land or its share price, or the yield on its things, our markets, activities and prospects. Such ‘forward-looking’ statements can be identified by shares, should not be relied upon as an indicator of future performance. the use of ‘forward-looking’ terminology, including terms such as ‘believes’, ‘estimates’, ‘anticipates’, Any forward-looking statements made by or on behalf of British Land speak only as of the date they are ‘expects’, ‘forecasts’, ‘intends’, ‘plans’, ‘projects’, ‘goal’, ‘target’, ‘aim’, ‘may’, ‘will’, ‘would’, ‘could’, made and no representation or warranty is given in relation to them, including as to their completeness ‘should’ or similar expressions or in each case their negative or variations or comparable terminology. or accuracy or the basis on which they were prepared. Other than in accordance with our legal and By their nature, forward-looking statements involve risk and uncertainty because they relate to regulatory obligations (including under the Listing Rules and Disclosure and Transparency Rules), future events and circumstances which may or may not occur and may be beyond our ability to control British Land does not undertake to update or revise forward-looking statements to reflect any changes or predict. Forward-looking statements should be regarded with caution because of the inherent in British Land’s expectations with regard thereto or any changes in information, events, conditions or uncertainty in political, economic, market and business factors. Actual outcomes and results may differ circumstances on which any such statement is based. materially from any outcomes or results expressed or implied by such forward-looking statements, 8231 2 Report 2011 01 to 70 Amedned URLs_Report 2011 13/06/2011 11:45 Page 01 Pages 01–09 Pages British Land Understanding OUR AIM IS TO BUILD THE BEST 11–23 Pages Strategy REAL ESTATE INVESTMENT TRUST (REIT) IN EUROPE British Land is one of Europe’s largest REITs and our 25–57Pages Our portfolio aim is to be Europe’s best. We provide investors with direct access to a diverse range of property assets which we manage, finance and develop, delivering security of income as well as capital growth. We focus on prime retail and office properties, 59–61 Pages Financing strategy mainly in the UK, which attract high-quality occupiers committed to long leases. Each year over 250 million people visit our properties which house over 1,000 different organisations. Through our property and finance expertise we attract experienced partners to Pages 63–70Pages responsibility Corporate create environments in which businesses and local communities can thrive. WHAT IS A REIT? Real Estate Investment Trusts (REITs) are companies which are exempt from corporate taxation on profits from rental income and capital gains on the sale of investment properties. The Government established REIT status in 2007 to remove the tax inequalities between different real estate investors. REITs Property Company are required to distribute 90% of their UK property rental profits of the Year 2011 in the form of property income dividends (PIDs). For more information on REITs p13–14 and p183 The British Land Company PLC Annual Report and Accounts 2011 01 8231 2 Report 2011 01 to 70 Amedned URLs_Report 2011 13/06/2011 11:45 Page 02 02 The British Land Company PLC Annual Report and Accounts 2011 8231 2 Report 2011 01 to 70 Amedned URLs_Report 2011 13/06/2011 11:45 Page 03 CHAIRMAN’S STATEMENT “We derive huge benefit from 01–09 Pages British Land Understanding the scale of our operations and pass this benefit on to our partners in terms of knowledge, experience and opportunity.” At British Land, we are facing the future with Recent research1 shows that we contributed almost £900 million 11–23 Pages Strategy confidence. Our London office portfolio comprises of Gross Value Added to the UK economy in 2009/10 through our direct operations and supplier expenditure. Our occupiers modern, flexible buildings that meet evolving contributed an additional £10.6 billion through their own business occupier needs and we own some of the best activities at our properties. We estimate consumers spent retail assets in the UK, where consumers want to around £4.7 billion in department stores and superstores on our shop and retailers trade efficiently and profitably. sites during 2010, and sales across our entire retail estate are clearly significantly greater. Total employment enabled by British Land is estimated to be around 142,000 jobs, including those While, as a nation, we have moved from ’Recession’ to the ‘Age of directly generated by our occupiers and indirectly through their Austerity’, consumers are still shopping and good businesses are supplier expenditure. looking to grow. British Land has been well served by the quality, Pages 25–57Pages Our portfolio location and sustainability of our portfolio. Our size and substance demands a responsible approach to business; a duty we take willingly and seriously. This year we Concentrated leasing activity across our portfolio, a decisive and reviewed our corporate responsibility strategy, consulting experts significant commitment to Central London office development, on a range of issues, evaluating best practice and benchmarking and a series of retail acquisitions, all contributed to a strong our performance. performance over an active year as we delivered improvements throughout our business. We continued to see a good recovery We believe leadership on issues such as sustainability help drive in the value of our assets and achieved rental growth with our performance and are core to our aim of building the best REIT continued demand for space from key retailers and office in Europe. It is difficult to measure their precise value but occupiers occupiers. These achievements were recognised at the annual are increasingly looking for efficiency and want premises that Property Week Awards in April 2011, when we were delighted express their own corporate commitments. Ropemaker Place, to be named Property Company of the Year. completed in May 2009, remains one of the City’s most sustainable 59–61 Pages Financing strategy buildings. Despite a challenging occupational market it is now fully We reported very pleasing results for the year to 31 March 2011. let; a testament to its quality and a good example of our approach. Underlying pre-tax profits at £256 million were 9.9% up excluding a credit provision release in 2009. The value of our property In March, we announced the promotion of Lucinda Bell to the portfolio increased by 6.9% to £9.6 billion with NAV per share Board to succeed Graham Roberts as Finance Director. We up by 12.5% to 567 pence. The Board is proposing a fourth quarter welcome Lucinda and thank Graham for his excellent contribution dividend of 6.5 pence, bringing the total dividend per share for to the Group over many years and for his strong stewardship the full year to 26 pence representing a 91% payout in respect and leadership of the finance function. We also appointed two of underlying earnings. For the coming year, it is our intention that Non-executive Directors in Simon Borrows, Chairman of Greenhill the dividend is maintained at 26 pence with quarterly dividends & Co International LLP, and William Jackson, Chief Executive of 6.5 pence. of Bridgepoint. Both have further strengthened our Board following the retirement of Clive Cowdery. Earlier in the year, 63–70Pages responsibility Corporate Our finances remain strong and over the last 18 months Robert Swannell retired from the Board after 11 years during we successfully refinanced over £1.1 billion debt and revolving which time he served as Audit Committee Chairman and Senior facilities. Finance is clearly available for well positioned UK Independent Director. We thank both Robert and Clive for their businesses and the strength and quality of our properties and strong contributions to the Board. their rental income, continue to underpin our ability to secure competitive funding successfully. I also thank everyone at British Land and our many business partners whose hard work has helped our business grow over During the year, we started a number of projects to create the past 12 months. The business had a strong 2010/11 and what is currently Central London’s largest committed office is performing well and we remain confident about the prospects development programme. We recognised, early on, the opportunity for the business. provided by a new major office cycle in Central London and will deliver 2.2 million sq ft of high-quality space, between 2012 and 2014, into a constrained market with rising rents and capital values. An investment of £1.6 billion, of which our share totals £1.1 billion, spans six separate sites including a 700,000 sq ft building for Chris Gibson-Smith UBS at Broadgate, the 610,000 sq ft Leadenhall Building in Chairman London’s insurance district and the 500,000 sq ft NEQ building, 22 May 2011 completing our Regent’s Place estate.
Load more

Recommended publications
  • Skills and Services Directory Achieve More from Your Property Property
    Skills and Services Directory Achieve more from your property Property. It’s what we do every day – and we love it. When you experience the difference we can make, we think you’ll really appreciate what we do… So how can we help you exactly? Well, we offer you expert advice and a comprehensive range of services to cover all your property needs. We can help you make the very best property decisions to get the result you’re after. We are ready to help you make sure you achieve more from your property right now. Contact us today on 0333 772 1235 or [email protected] Asset Experience Academic, Health and Land Community Property and Institutional Airfields Public Realm Day care facilities Barns Community centres Doctors’ surgeries Brownfield sites County farm estates Extra care development Common land Leisure centres Primary care centres Contaminated land Libraries and information centres Respite and Residential Country parks, national parks Markets and small business centres care facilities and public open spaces Police, fire and ambulance stations Schools, colleges and Crown land Public access universities Development land Sports centres Student accommodation Entitlement Social housing Supported housing ESAs, AONBs and SSSIs Town halls and administrative Equestrian offices Historical Estates Ancient Monuments Farm and accommodation land Residential Churches Foreshores and rivers Country houses Church houses Glebe land Residential investments Listed buildings Greenfield sites Horticulture Retail Industrial Landfill sites Banks
    [Show full text]
  • COVID-19 Proxy Governance Update
    COVID-19 Proxy Governance Update 2020 AGM mid-season review FROM EQUINITI 01 Looking back and planning ahead It is incredible to note that it has been over 12 weeks since the official announcement on 23 March of the UK Government’s Stay at Home Measures, and nearly seven months since the severity of the pandemic became apparent in China. Over the said period, PLC boards, company secretaries and investor relations officers have kept their corporate calendars going thanks to rapid adoption of modified regulatory guidelines and inventive modes of engagement with investors. With annual general meetings being an obvious highlight in the corporate calendar, we take stock of the progress made so far over the 2020 AGM season, as well as using what we learned to plan ahead. Now that we are over the first ‘hump’ with the busy period of May AGMs out of the way, we are readying for the second ‘peak’ of June and July AGMs, and then an ‘easing’ until the second ‘mini’ season in the early autumn. As such, in this update, we look at: • 2020 AGM season statistics…so far • Proxy adviser engagement and ISS recommendations review • High-level assumptions for Q3 and Q4 • Relevant updates from the regulators, industry bodies and proxy advisers • Communications in the COVID-19 world – special commentary by leading financial PR firm,Camarco • How has COVID-19 impacted activism – special commentary by international law firm,White & Case 02 2020 AGM Season Statistics…so far Scope of data To assess progress and forecast what is to come, we look at the key statistics for the UK AGM season 2020 thus far.
    [Show full text]
  • Taylor Woodrow Plc Report and Accounts 2006 Our Aim Is to Be the Homebuilder of Choice
    Taylor Woodrow plc Report and Accounts 2006 Our aim is to be the homebuilder of choice. Our primary business is the development of sustainable communities of high-quality homes in selected markets in the UK, North America, Spain and Gibraltar. We seek to add shareholder value through the achievement of profitable growth and effective capital management. Contents 01 Group Financial Highlights 54 Consolidated Cash Flow 02 Chairman’s Statement Statement 05 Chief Executive’s Review 55 Notes to the Consolidated 28 Board of Directors Financial Statements 30 Report of the Directors 79 Independent Auditors’ Report 33 Corporate Governance Statement 80 Accounting Policies 37 Directors’ Remuneration Report 81 Company Balance Sheet 46 Directors’ Responsibilities 82 Notes to the Company Financial Statement Statements 47 Independent Auditors’ Report 87 Particulars of Principal Subsidiary 48 Accounting Policies Undertakings 51 Consolidated Income Statement 88 Five Year Review 52 Consolidated Statement of 90 Shareholder Facilities Recognised Income and Expense 92 Principal Taylor Woodrow Offices 53 Consolidated Balance Sheet Group Financial Highlights • Group revenues £3.68bn (2005: £3.56bn) • Housing profit from operations* £469m (2005: £456m) • Profit before tax £406m (2005: £411m) • Basic earnings per share 50.5 pence (2005: 50.6 pence) • Full year dividend 14.75 pence (2005: 13.4 pence) • Net gearing 18.6 per cent (2005: 23.7 per cent) • Equity shareholders’ funds per share 364.7 pence (2005: 338.4 pence) Profit before tax £m 2006 405.6 2005 411.0 2004 403.9 Full year dividend pence (Represents interim dividends declared and paid and final dividend for the year as declared by the Board) 2006 14.75 2005 13.4 2004 11.1 Equity shareholders’ funds per share pence 2006 364.7 2005 338.4 2004 303.8 * Profit from operations is before joint ventures’ interest and tax (see Note 3, page 56).
    [Show full text]
  • Disclaimer Strictly Not to Be Forwarded to Any
    DISCLAIMER STRICTLY NOT TO BE FORWARDED TO ANY OTHER PERSONS IMPORTANT: You must read the following disclaimer before reading, accessing or making any other use of the attached document relating to SEGRO plc (the “Company”) dated 10 March 2017. In accessing the attached document, you agree to be bound by the following terms and conditions, including any modifications to them from time to time, each time you receive any information from us as a result of such access. You acknowledge that this electronic transmission and the delivery of the attached document is confidential and intended for you only and you agree you will not forward, reproduce, copy, download or publish this electronic transmission or the attached document (electronically or otherwise) to any other person. The attached document has been prepared solely in connection with the proposed rights issue and offering of nil paid rights, fully paid rights and new ordinary shares (the “Securities”) of the Company (the “Transaction”). The Prospectus has been published in connection with the admission of the Securities to the Official List of the UK Financial Conduct Authority (the ‘‘Financial Conduct Authority’’) and to trading on the London Stock Exchange plc’s main market for listed securities (together, ‘‘Admission’’). The Prospectus has been approved by the Financial Conduct Authority as a prospectus prepared in accordance with the Prospectus Rules made under section 73A of the Financial Services and Markets Act 2000, as amended. NOTHING IN THIS ELECTRONIC TRANSMISSION AND THE ATTACHED DOCUMENT CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.
    [Show full text]
  • A R Y 2 0 0 8 E D I T I O N
    F E B R U A R Y 2 0 0 8 E D I T I O N UK Commercial Property Investment Transactions 1 Jan 2008 - 31 Jan 2008 Value of Sales Number £1,481m 73 CONTENTS Total Value of UK Investment Transactions (Year to Date January 2008) SECTOR LISTING........................................ 2 GEOGRAPHICAL LISTING...........................5 4,000 3,633 BUYERS & SELLERS LISTING....................9 3,500 3,161 THREE MONTH YIELD INDEX...................12 3,000 2,829 2,655 ACTIVE PROPERTY INVESTORS.............14 2,500 INVESTMENT STATISTICS.......................18 The monthly bulletin is available in hardcopy and 2,000 PDF formats for £395.00 pa (12 issues). 1,481 1,500 The next edition of the bulletin will be published on Monday 3rd March 2008. m £ Volume Transaction 1,000 This report is intended for general information and is based upon material in our possession or 500 supplied to us, which we believe to be reliable. Whilst every effort has been made to ensure its 0 accuracy and completeness we cannot offer any warranty that factual errors may not have 2004 2005 2006 2007 2008 occurred. Year to Date (Jan - Jan) For further information please visit our website: www.propertydata.com or call 01785 859300 Office Retail Industrial Leisure Other Total Copyright (c) 2008. Property Data Ltd. Year-to-Date Investor Breakdown 1 Jan 2008 - 31 Jan 2008 Institutions Property Co's Private Investor Overseas Other Purchases £m 41 376 218 725 120 Sales £m 660 182 30 205 404 Net Investment £m -619 194 188 520 -284 Year-to-Date Sector Breakdown 1 Jan 2008 - 31 Jan 2008
    [Show full text]
  • Alex Treadway / Design & Photography
    ALEX TREADWAY / DESIGN & PHOTOGRAPHY 1 ALEX TREADWAY / DESIGN & PHOTOGRAPHY ICIMOD ICIMOD is a regional knowledge development and learning centre serving the eight regional member countries of the Hindu Kush-Himalayas. Primarily they’re working to develop an economically and environmentally sound mountain ecosystem to improve the livelihoods of mountain populations. They needed a new brand, website, photography and a solid set of guidelines in order to generate publications, books and web pages themselves. I developed an extensive set of templates and guidelines which can be used in an endless variety of ways to keep the them appearing fresh and different, but at the same time consistently looking and behaving as one organisation. The identity subtly highlights two of their key areas: Mountains and Water. 2 ALEX TREADWAY / DESIGN & PHOTOGRAPHY ICIMOD PASSING THE BATON ICIMOD publish a large amount of materials which are almost exclusively produced themselves by their in-house design team. They needed a set of guidelines which would cater for a vast array of different formats and content. I gave them an intuitive system which could adapt as necessary but at the same time be ever-so- simple to use. Now they’re doing it all themselves. 3 ALEX TREADWAY / DESIGN & PHOTOGRAPHY ICIMOD 4 ALEX TREADWAY / DESIGN & PHOTOGRAPHY ICIMOD ICIMOD PHOTOGRAPHY As well as re-establishing ICIMOD’s branding I also travalled to all of their member countries to generate an entire port folio of photography. The result was such a success ICIMOD decided to publish a coffee table book called ‘Life in the Himalayas’ to showcase the photographs and tell their story.
    [Show full text]
  • (Council) Councillors Cllr Fairclough Astley Bridge Ward
    TYPE Title LastName Organisation/CompanyName (Council) Councillors Cllr Fairclough Astley Bridge Ward (Council) Councillors Cllr Walsh OBE Astley Bridge Ward (Council) Councillors Cllr Wild Astley Bridge Ward (Council) Councillors Cllr Dean Bradshaw Ward (Council) Councillors Cllr Haslam Bradshaw Ward (Council) Councillors Cllr Hall Bradshaw Ward (Council) Councillors Cllr Byrne Breightmet Ward (Council) Councillors Cllr Byrne Breightmet Ward (Council) Councillors Cllr Challender Breightmet Ward (Council) Councillors Cllr Critchley Bromley Cross Ward (Council) Councillors Cllr Wells Greenhalgh Bromley Cross Ward (Council) Councillors Cllr Wilkinson Bromley Cross Ward (Council) Councillors Cllr Bashir-Ismail Crompton Ward (Council) Councillors Cllr Darvesh Crompton Ward (Council) Councillors Cllr Harkin Crompton Ward (Council) Councillors Cllr Gillies Farnworth Ward (Council) Councillors Cllr Ibrahim Farnworth Ward (Council) Councillors Cllr Spencer Farnworth Ward (Council) Councillors Cllr Ayub Great Lever ward (Council) Councillors Cllr Iqbal Great Lever ward (Council) Councillors Cllr Murray Great Lever ward (Council) Councillors Cllr Morris Halliwell ward (Council) Councillors Cllr Thomas Halliwell ward (Council) Councillors Cllr Zaman Halliwell ward (Council) Councillors Cllr Clare Harper Green ward (Council) Councillors Cllr Francis Harper Green ward (Council) Councillors Cllr Mistry Harper Green ward (Council) Councillors Cllr Allen Heaton and Lostock ward (Council) Councillors Cllr Rushton Heaton and Lostock ward (Council) Councillors
    [Show full text]
  • Organisations/Groups on the Consultation Database Planning
    Appendix B Organisations/Groups on the Consultation Database Planning Agents/Professional Representatives 3Fox International Limited Acorn, Land & Strategic Property Division Acorus Admiral Homes Affinity Sutton Homes Alliance Planning AMEC Environment & Infrastructure UK Limited Annington Developments Ltd Appledore Developments Ltd Artesian Asprey Homes Axes Lane Banner Homes Barton Willmore Planning Partnership Batcheller Monkhouse Baxter Phillips Bell Cornwell Bellway Homes Ltd Bellway Homes Ltd, Thames Gateway South Division Berkeley Homes (South East London) Berwood Homes Bidwells LLP Bioscan (UK) Ltd BNP Paribas Real Estate Boyer Planning Limited bptw Partnership BRE Brian Barber Associates British Land Company PLC Broadlands Planning Broadway Malyan Planning Burnett Planning & Development Limited Cala Homes Calfordseaden LLP Capita Symonds Castlefort Properties Ltd Cathedral Group CBRE Ltd CgMs Consulting Chart Plan (2004) Limited Chase & Partners Clifford Rance Associates Cluttons LLP Colliers International Conrad Phoenix Properties Ltd Correct as of 21/07/2016 Conrad Ritblat Erdman Co-Operative Group Ltd., Countryside Strategic Projects plc Cranbrook Home Extensions Crest Nicholson Eastern Crest Strategic Projectsl Ltd Croudace D & M Planning Daniel Watney LLP Deloitte Real Estate DHA Planning Direct Build Services Limited DLA Town Planning Ltd dp9 DPDS Consulting Group Drivers Jonas Deloitte Dron & Wright DTZ Edwards Covell Architecture & Planning Fairclough Homes Fairview Estates (Housing) Ltd Firstplan FirstPlus Planning Limited
    [Show full text]
  • 49 P51 AO1 Hot Noms.Qxp 04/12/2007 17:23 Page 51
    49 p51 AO1 Hot noms.qxp 04/12/2007 17:23 Page 51 www.propertyweek.com Analysis + opinion – Hot 100 51 07.12.07 ROLL OF HONOUR The following 527 rising stars were all nominated by readers, but did not receive enough votes to make it on to the Hot 100 list. However, we have decided to publish all of their names to recognise and reward their individual achievements Ab Shome, RBS Caroline McDade, Drivers Jonas Douglas Higgins Ian Webster, Colliers CRE Adam Buchler, Buchler Barnett Celine Donnet, Cohen & Steers Duncan Walker, Helical Bar Ian Webster, Savills Adam Oliver, Coleman Bennett Charles Archer, Colliers CRE Edward Offenbach, DTZ James Abrahms, Allsop Adam Poyner, Colliers CRE Charles Bull, DTZ Corporate Finance Edward Siddall-Jones, Nattrass Giles James Ackroyd, Colliers CRE Adam Robson, Drivers Jonas Charles Ferguson Davie, Moorfield Group Edward Towers James Bain, Mollison Adam Varley, Lambert Smith Hampton Charles Kearney, Gerry O’Connor Elizabeth Higgins, Drivers Jonas James Baker, Nice Investments Adam Winton, Kaupthing Estate Agents Elliot Robertson, Manorlane James Cobbold, Colliers CRE Agnes Peters, Drivers Jonas Charlie Archer, Colliers CRE Emilia Keladitis, DTZ Corporate Finance James Ebel, Harper Dennis Hobbs Akhtar Alibhai, Colliers CRE Charlie Barke, Cushman & Wakefield Emma Crowley, Jones Lang LaSalle James Feilden, GVA Grimley Alan Gardener, Jones Lang LaSalle Charlie Bezzant, Reed Smith Richards Butler Emma Wilson, Urban Splash James Goymour, Edward Symmons Alan Hegarty, Bennett Property Charlote Fourmont, Drivers Jonas
    [Show full text]
  • Investor Presentation
    Investor Presentation HY 2020 Our Investment Case 1 2 3 4 Our distinctive The scale and A well-positioned Our operational business model & quality of our development expertise & clear strategy portfolio pipeline customer insight Increasing our focus 22.5m sq ft of Development pipeline Expertise in on mixed use places high quality assets aligned to strategy managing and leasing our assets based on our customer insight Growing London Underpinned by our Provides visibility campuses and resilient balance sheet on future earnings Residential and refining and financial strength Drives incremental Retail value for stakeholders 1 British Land at a glance 1FA, Broadgate £15.4bn Assets under management £11.7bn Of which we own £521m Annualised rent 22.5m sq ft Floor space 97% Occupancy Canada Water Plymouth As at September 2019 2 A diverse, high quality portfolio £11.7bn (BL share) Multi-let Retail (26%) London Campuses (45%) 72% London & South East Solus Retail (5%) Standalone offices (10%) Retail – London & SE (10%) Residential & Canada Water (4%) 3 Our unique London campuses £8.6bn Assets under management £6.4bn Of which we own 78% £205m Annualised rent 6.6m sq ft Floor space 97% Occupancy As at September 2019 4 Canada Water 53 acre mixed use opportunity in Central London 5 Why mixed use? Occupiers Employees want space which is… want space which is… Attractive to skilled Flexible Affordable Well connected Located in vibrant Well connected Safe and promotes Sustainable and employees neighbourhoods wellbeing eco friendly Tech Close to Aligned to
    [Show full text]
  • Building Up: What Are London's Limits?
    Building Up Contents Building Up: What are London's limits? 01 Is London falling short on tall buildings? In the first of our ‘Building Up’ series, we look at some of the key challenges to 03 Dame Judith Hackitt’s review following delivering taller developments in the capital. With pressure for growth and land the Grenfell fire: the final values at record levels in certain areas, property experts are seeking innovative report ways to deliver high quality developments at increased densities. In this 04 Whose light is it anyway? Releasing publication, we go beyond the typical issues of planning, construction and lettings rights of light reaches the High to look at the specific issues that come with building up. Court 06 Love thy neighbour: starting your Charles Russell Speechlys co­hosted a panel discussion with GIA on ‘London's development on the right foot skyline and the challenges of building up’ on 5 June 2018. At the seminar, we 08 Branding your Building (before drew together industry insight from our panel of experts from across development, someone else does) planning, politics and law and through live polling of our audience of leading 10 The only way is up? How new national professionals working within the real estate sector. This gave us an in­depth planning policy will increase understanding of this topic from different perspectives in the market. pressure on building height and density If you have any questions on this publication, please get in touch with 12 About Charles Russell Speechlys Claire Fallows on [email protected] or James Souter on [email protected] with any questions.
    [Show full text]
  • Proptech 3.0: the Future of Real Estate
    University of Oxford Research PropTech 3.0: the future of real estate PROPTECH 3.0: THE FUTURE OF REAL ESTATE WWW.SBS.OXFORD.EDU PROPTECH 3.0: THE FUTURE OF REAL ESTATE PropTech 3.0: the future of real estate Right now, thousands of extremely clever people backed by billions of dollars of often expert investment are working very hard to change the way real estate is traded, used and operated. It would be surprising, to say the least, if this burst of activity – let’s call it PropTech 2.0 - does not lead to some significant change. No doubt many PropTech firms will fail and a lot of money will be lost, but there will be some very successful survivors who will in time have a radical impact on what has been a slow-moving, conservative industry. How, and where, will this happen? Underlying this huge capitalist and social endeavour is a clash of generations. Many of the startups are driven by, and aimed at, millennials, but they often look to babyboomers for money - and sometimes for advice. PropTech 2.0 is also engineering a much-needed boost to property market diversity. Unlike many traditional real estate businesses, PropTech is attracting a diversified pool of talent that has a strong female component, representation from different regions of the world and entrepreneurs from a highly diverse career and education background. Given the difference in background between the establishment and the drivers of the PropTech wave, it is not surprising that there is some disagreement about the level of disruption that PropTech 2.0 will create.
    [Show full text]