DOCSLIB.ORG

View Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
View Annual Report Annual Report 2008 Report Annual Our world is changing... Annual Report 2008 www.landsecurities.com/doing2008 Our approach to corporate responsibility Our response to climate change Corporate responsibility stakeholders 2007/08 activities and achievements 2008/09 targets Future challenges www.landsecurities.com Our vision, strategy, objectives and values Information on our Retail Portfolio, London Portfolio and Trillium Structure and Senior Management at Land Securities www.landsecurities.com/annualreport2008 Latest information for investors Corporate responsibility Design by sasdesign.co.uk Land Securities Group PLC Media centre Words by Tim Rich Copyright and trade mark notices Illustrations by Marion Deuchars All rights reserved. Working at Land Securities Location photography by Matt Mawson ©Copyright 2008 Land Securities Group PLC. Awards and memberships Portraits by Andy Lane Printed by St Ives Westerham Press, Land Securities, LandSecurities (stylised), Frequently asked questions environmentally accredited the Cornerstones logo, Making Property Work, printers ISO 14001. and Landfl ex are trade marks of Land Securities Group PLC. This report is printed on paper that meets international environment standards, contains All other trade marks and registered trade marks total chlorine free virgin pulp, obtained from are the property of their respective owners. sustainably managed forests. 1 At the end of our fi rst year of business, in 1944, we owned three houses in Kensington. Today we are the largest Real Estate Investment Trust in the UK. While our markets have always gone up and down, one thing has stayed the same – our long-term approach. Year after year we’ve made Land Securities stronger by looking ahead, taking bold decisions early, and responding to people’s needs with a positive can-do spirit. Report of the Directors 4 All you need to know 24 Retail Portfolio 6 Performance overview 34 London Portfolio Report the of Directors Report from the Directors on the key 8 Chairman’s statement 44 Trillium strategic, fi nancial and operational 10 Chief Executive’s report 52 Board of Directors developments during the year. 13 Benefi ts of demerger 54 Corporate responsibility 14 Financial review 62 Corporate governance 20 Business review 66 Directors’ remuneration report 22 Our risks and how we manage them Financial Statements 78 Directors’ statements of responsibilities Statements presenting the 79 Independent auditors’ report essential numbers, including 80 Income statement the independent auditors’ report. 80 Statement of recognised income and expense 81 Balance sheets 82 Cashfl ow statements 83 Notes to the fi nancial statements Investor Information 120 Five year summary 121 Business analysis Summaries, analysis and 129 Investor information information on properties, 130 Glossary contracts and related subjects 131 Index for shareholders. 132 Contact details Land Securities Annual Report 2008 2 After another year of change and evolution, our three businesses are in good shape. In Retail our ability to means we can deliver the right space in the right place at the right time – for our customers and their customers. In London our knowledge, understanding and scale enable us to compete from a position of strength today while innovating to for tomorrow. And through Trillium we’re extending the range of our partnerships to help organisations and operate more effi ciently. Our demerger plan is another example of evolution in action. While remaining as one company would be a safe choice, becoming three separate businesses will help us maximise our long-term value. This annual report looks at the many ways we’ve evolved this year and shares our plans for the year ahead. We started work in 1990, completed a comprehensive redevelopment in 1992 and sold in 1996 for £128.3m. This early 1990s development provided new offi ce and retail space and features polished and fl ame textured granite on the external elevations. Built in the 1960s and fi rst let at Originally the Stag Brewery, £2.70 per sq ft., we carried out we acquired and developed most a major refurbishment in 1987. of this site in the late 1950s and have since transformed it into Cardinal Place. 3 This extraordinary planned development includes a sky-high garden, with planning consent granted in 2007. Report the of Directors Redeveloped and opened in 2003, this is now the third most popular shopping destination in the UK. We relocated Dresdner Kleinwort Wasserstein from 20 Fenchurch Street to this redeveloped site, then sold the asset in 2005 for £274m. 4 All you need to know Land Securities is a leading Real Estate Investment Trust. Our national portfolio of commercial property includes some of the UK’s best-known shopping centres and landmark buildings in London. We are at the forefront of urban renaissance through our multi-billion pound development programme, transforming regional city centres and key sites in Central London. We are also one of the leading names in property outsourcing and Public Private Partnership markets as well as being involved in long-term, large-scale regeneration projects in the South-east. Our values Our vision Our strategy There are certain core values Our vision is ‘bringing property Our strategy is to invest in that form the foundation of Land to life’. We will go beyond bricks commercial property in sectors Securities. They embody the way and mortar, through design, where we have expertise and in which employees and service community engagement and operational skills which provide partners work together to deliver customer service to create places competitive advantage. In these effective customer relationships. where people choose to shop, are sectors we will apply our risk proud to work and want to live. management skills and we will The values are: actively recycle capital with a ■ Customer service view to delivering total returns ■ Respect for the individual in excess of our cost of equity. ■ Integrity ■ Excellence ■ Innovation Land Securities Annual Report 2008 All you need to know continued 5 Three strong businesses... Report the of Directors This business unit includes This business unit includes all This business unit is engaged in shopping centres, retail warehouses, London offi ces and London retail, long-term property outsourcing shops outside London, shops in but excludes those assets held in partnerships with public sector London held through the Metro the Metro Shopping Fund LP. organisations including DWP, Shopping Fund LP and other Key points DVLA and Royal Mail and with regional properties. 1.1 million m2 of offi ce corporates including Norwich and retail accommodation Key points Union, Barclays and Accor Hotels. more than 50,000 people work 27 shopping centres and 27 retail parks in offi ces owned by us We have equity interests in or 1.7 million m2 of retail accommodation provides accommodation for over manage 137 Public Private approximately 1,300 retailer occupiers 400 organisations some 260 million shopper visits per year Partnership (PPP) projects in areas long-term community development such as schools, hospitals, secure projects in London and the South-east accommodation and offi ces. Key points 3.1 million m2 across 1,776 properties in property outsourcing partnerships 1.7 million m2 of PPP project fl oorspace long-term contracts with gross income of £757.8m Land Securities Annual Report 2008 6 Our performance An overview of our key fi nancial performance fi gures from this fi nancial year. Pre-tax loss Total dividend Revenue profi t £888.8m 64.0p £379.1m The loss refl ects the impact of this year’s valuation We increased the dividend again this year and have Increased revenue profi t from London and Retail defi cit, but we have only moved back to a fi gure now generated compound annual growth of 14.6% was offset by the impact of the accounting treatment comparable to our cumulative surplus in 2006. since 2004. for Trillium’s PPP assets. Land Securities performance versus IPD - ungeared total property return (%) Dividends and adjusted diluted earnings per share (p) Revenue profit (£m) 25 90.00 400 20 80.00 23.3 380 392.2 70.00 391.3 20.7 15 81.71 17.7 360 379.1 16.5 60.00 16.2 15.9 70.20 10 70.47 66.87 13.0 12.8 64.00 12.4 50.00 11.2 361.8 10.7 5 10.5 340 40.00 53.00 47.80 0 46.70 320 30.00 43.25 -9.1 -5 20.00 37.10 300 -10 -3.2 10.00 -15 0.00 280 301.9 04 05 06 07 08 5 10 04 05 06 07 08 04 05 06 07 08 years years Land Securities IPD Quarterly Universe Dividends per share Adjusted diluted earnings per share Combined portfolio value (£bn) Five year cumulative valuation surplus (£m) Net assets per share (p) Other 0.1 5,000 2400 Retail Portfolio 6.2 4,500 2200 2000 2304 4,000 1800 2181 2067 4,372.0 3,500 1956 1600 1912 3,000 1400 1597 2,500 1200 1488 3,067.5 1331 2,989.3 1293 2,000 1000 1294 800 1,500 600 1,000 London Portfolio 7.3 400 406.9 500 1,304.3 200 0 0 04 05 06 07 08 04 05 06 07 08 Basic Adjusted diluted* *Calculated under UK GAAP in 2004; under IFRS thereafter. Land Securities Annual Report 2008 Performance overview continued 7 Read more about why we launched the fund, and which companies have invested in the fund, on page 47. Find out how our Retail Portfolio managed to outperform IPD on Key performance indicators pages 25-33 and read about the London Portfolio’s outperformance on pages 34-43. Objective Metric Progress To create sustainable long-term Sustained real growth in adjusted earnings per Normalised adjusted earnings per share growth returns for shareholders share to be at least 3% per annum over rolling over three years
Load more

Recommended publications
  • Greater London Authority
    Consumer Expenditure and Comparison Goods Retail Floorspace Need in London March 2009 Consumer Expenditure and Comparison Goods Retail Floorspace Need in London A report by Experian for the Greater London Authority March 2009 copyright Greater London Authority March 2009 Published by Greater London Authority City Hall The Queen’s Walk London SE1 2AA www.london.gov.uk enquiries 020 7983 4100 minicom 020 7983 4458 ISBN 978 1 84781 227 8 This publication is printed on recycled paper Experian - Business Strategies Cardinal Place 6th Floor 80 Victoria Street London SW1E 5JL T: +44 (0) 207 746 8255 F: +44 (0) 207 746 8277 This project was funded by the Greater London Authority and the London Development Agency. The views expressed in this report are those of Experian Business Strategies and do not necessarily represent those of the Greater London Authority or the London Development Agency. 1 EXECUTIVE SUMMARY.................................................................................................... 5 BACKGROUND ........................................................................................................................... 5 CONSUMER EXPENDITURE PROJECTIONS .................................................................................... 6 CURRENT COMPARISON FLOORSPACE PROVISION ....................................................................... 9 RETAIL CENTRE TURNOVER........................................................................................................ 9 COMPARISON GOODS FLOORSPACE REQUIREMENTS
    [Show full text]
  • Swale Borough Council
    SWALE BOROUGH COUNCIL Project: RETAIL STUDY 2010: Bulky and DIY Goods Addendum Latest Revision: 20/05/2011 - DRAFT Study area population by zone Zone 2010 2015 2020 2025 1 39,501 40,410 41,418 42,595 2 12,888 13,185 13,514 13,897 3 46,052 47,112 48,287 49,659 4 11,242 11,501 11,788 12,123 5 19,162 19,603 20,092 20,663 6 5,340 5,463 5,599 5,758 TOTAL 134,185 137,274 140,698 144,695 Sources/notes for frontispiece 1. 2010 population for each zone from Pitney Bowes Business Insight Area Profile Report (6 July 2010) 2. Growth in population based on growth rates implied by scenarioKent County 3 of Council 6 scenarios population prepared forecasts by Research for Swale & Intelligence, Borough - South Kent CouEastntyPlan Council Strategy (16- Septemberbased Forecasts 2010). (September The KCC projections 2009) Total are Population based on SwaleForecasts. Borough Available: Counciil's 'Option 1' for newhttps://shareweb.kent.gov.uk/Documents/facts homes which assumes an additional 13,503-and dwellings-figures/sep between-forecasts 2006-sep-2031-09 -usingweb.pdf a phasing Access provideddate: 12 byOctober SBC 2010 OTHER COMPARISON GOODS Table 3.1 Expenditure per capita (£) Zone 2007 2010 2015 2020 2025 1 2,062 2,162 2,592 3,124 3,764 2 2,356 2,470 2,962 3,569 4,301 3 2,164 2,269 2,721 3,278 3,950 4 2,336 2,449 2,937 3,539 4,264 5 2,194 2,300 2,758 3,324 4,005 6 2,347 2,460 2,951 3,555 4,284 Sources/notes for Table 3.1 1.
    [Show full text]
  • View Annual Report
    GROWTH THROUGH INNOVATION Halma plc Annual Report and Accounts 2012 Overview 01 Investment Proposition 02 Group at a Glance 04 Strategy and Business Model 06 Innovation in Healthcare and Analysis 08 Innovation in Infrastructure Sensors 10 Innovation in Industrial Safety Business review 12 Chairman’s Statement 14 Performance against Strategy 20 Strategic Review 25 Strategy in Action 30 Sector Reviews 30 Health and Analysis 38 Infrastructure Sensors 46 Industrial Safety 54 Financial Review 59 Risk Management and Internal Control 61 Principal Risks and Uncertainties 64 Corporate Responsibility Governance 68 Board of Directors and Executive Board 71 Chairman’s Introduction to Governance 72 Corporate Governance 76 Audit Committee Report 78 Nomination Committee Report 79 Remuneration Committee Report 80 Remuneration Report 87 Other Statutory Information 90 Directors’ Responsibilities Financial statements 91 Independent Auditor’s Report – Group 92 Consolidated Income Statement 92 Consolidated Statement of Comprehensive Income and Expenditure 93 Consolidated Balance Sheet 94 Consolidated Statement of Changes in Equity 95 Consolidated Cash Flow Statement 96 Accounting Policies 102 Notes to the Accounts 135 Independent Auditor’s Report – Company 136 Company Balance Sheet 137 Notes to the Company Accounts 142 Summary 2003 to 2012 144 Halma Directory 148 Shareholder Information and Advisers Overview Business review Governance Financial statements INVESTMENT PROS PO ITION Halma has an impressive record of creating sustained shareholder value through the economic cycle. We have consistently delivered record profits, high returns, strong cash flows, low levels of balance sheet gearing and have a 30+ year track record of growing dividend payments by 5% or more every year. Our ability to achieve record profits through the recent periods of economic turbulence is derived from our strategy of having a group of businesses building strong competitive advantage in specialised safety, health and environmental technology markets with resilient growth drivers.
    [Show full text]
  • Community Pharmacies Opening Times Christmas and New Year 2018 Kent (Excluding Medway)
    Community Pharmacies opening times Christmas and New Year 2018 Kent (excluding Medway) Christmas Boxing New day Tues Day Weds Year’s day Trading name Address 1 Address 2 Postcode Tel 25th 26th Tues 1st December December Jan 01233 Well 5 Brookfield Court Ashford TN23 5ER Closed Closed Closed 622245 01233 Ashworths Dispensing Chemist 229 Beaver Road Ashford TN23 7SJ Closed Closed Closed 620710 01233 Kamsons Pharmacy 92 High Street Ashford TN24 8SE Closed Closed Closed 620593 St Stephens Health Centre St Stephens Walk, TN23 01233 Kamsons Pharmacy Ashford Closed Closed Closed Stanhope 5AQ 614670 Unit 4, Barrey Road Ashford Retail Park, 01233 09:00- 09:00- Boots the Chemists Ashford TN24 0SG Closed Sevington 503670 18:00 18:00 01233 Lloydspharmacy Bentley Road Willesborough Ashford TN24 0HZ Closed Closed Closed 621635 01233 10:00- 10:00- Boots the Chemists 56 High Street Ashford TN24 8TB Closed 625528 16:00 16:00 TN24 01233 09:30- Paydens Pharmacy Units 2-3 Mill Court Mace Lane Ashford Closed Closed 8DN 620465 15:30 Unit 3 Eureka Place Trinity Road, Eureka Business 01233 10:30- Delmergate Ltd Ashford TN25 4BY Closed Closed Park 638961 14:30 Lloydspharmacy (Inside 01233 10:00- 10:00- Simone Weil Avenue Bybrook Ashford TN24 8YN Closed Sainsbury's) 664607 16:00 16:00 01233 09:00- 10:00- Asda Store Pharmacy Kimberley Way Ashford TN24 0SE Closed 655010 18:00 17:00 0345 Tesco Instore Pharmacy Hythe Road Willesborough Ashford TN24 0YE Closed Closed Closed 6779008 TN27 01233 Charing Pharmacy Charing Medical Centre 1 The Surgery Close Ashford Closed
    [Show full text]
  • Title Landsec and Invesco Real Estate Welcome Orangetheory Fitness to Southside, Wandsworth. from Landsec Date 03.09.18 Landsec
    Title Landsec and Invesco Real Estate welcome Orangetheory Fitness to Southside, Wandsworth. From Landsec Date 03.09.18 Landsec and Invesco Real Estate have welcomed Orangetheory Fitness to Southside, Wandsworth. The brand, home to an innovative gym concept, has opened a 4,939 sq ft unit on Garratt Lane. Top-of-the-line equipment, upbeat music and motivational personal trainers make Orangetheory Fitness the most energetic fitness environment around. The Southside studio has 13 treadmills, 13 rowing machines, 13 suspension unit systems, benches for sessions of 10 to 39 people, as well as bike and strider options. The studio also has separate men’s and women’s restrooms and showers for convenience and comfort. Lockers, courteous staff and modern equipment complete the Orangetheory Fitness experience. Orangetheory’s heart rate monitored training is designed to maintain a target zone that stimulates metabolism and increases energy after the workout has finished to keep the body burning calories for up to 36 hours. Deepan Khiroya, Senior Portfolio Director, Landsec, commented: “Our retail and leisure mix at Southside reflects the aspirational consumers that visit the centre on a regular basis; Orangetheory Fitness is an innovative and forward-thinking brand, who we are pleased to be able to add to our offering.” Cem Ahmet, Studio Manager, Orange Theory Fitness, commented: “Being a part of Southside, Wandsworth has been incredible for generating business and footfall. We have seen a dramatic increase in numbers week-on-week since opening and have created some amazing relationships with our fellow Southside shopping centre businesses.” Southside, a joint venture between Invesco Real Estate, the global real estate investment manager, and Landsec, is located in the heart of Wandsworth Town, and is home to over 80 retailers including Waitrose, River Island, Tiger and H&M.
    [Show full text]
  • Regeneration and Economic Development Policy Overview and Scrutiny Committee
    KENT COUNTY COUNCIL REGENERATION AND ECONOMIC DEVELOPMENT POLICY OVERVIEW AND SCRUTINY COMMITTEE MINUTES of a meeting of the Regeneration and Economic Development Policy Overview and Scrutiny Committee held in the Council Chamber, Sessions House, County Hall, Maidstone on Wednesday, 17 November 2010. PRESENT: Mr M C Dance (Chairman), Mr I S Chittenden (Vice-Chairman), Mr A R Chell, Mr K A Ferrin, MBE, Mr P J Homewood, Mrs J P Law, Mr K H Pugh, Mrs J A Rook, Mr K Smith, Mr M V Snelling and Mrs E M Tweed ALSO PRESENT: Mr K G Lynes, Mr M J Whiting and Mr M A Wickham IN ATTENDANCE: Mr D Cockburn (Executive Director, Strategy, Economic Development & ICT), Mr N Smith (Head of Development Investment), Mr M Bodkin (Head of Urban Regeneration), Mrs T Bruton (Head of Regeneration Projects) and Miss T Grayell (Democratic Services Officer) UNRESTRICTED ITEMS 45. Minutes of the meeting held on 23 September 2010 (Item A3) RESOLVED that the Minutes of the meeting held on 23 September 2010 are correctly recorded and that they be signed by the Chairman. 46. Update on District Visits (Item B1) Mr M J Whiting, Member for Swale Central, was present for this item and spoke on it with the permission of the Chairman. Mr M Bodkin, Head of Urban Regeneration, Mrs T Bruton, Head of Regeneration Projects, Mr P Campion, Development Contributions Manager, Mrs H Coleman, Economic Development Manager, Mr R Hancock, Regeneration and Projects Manager, Mr D Hughes, Regeneration and Projects Manager, Mr I Lewis, Growth Areas Manager, and Mr K Mackenney, Regeneration and Projects Manager, were in attendance for this item.
    [Show full text]
  • 1. Entering Into a Competition Or Promotion Hosted by Us
    PRIVACY & COOKIES POLICY This Privacy Notice may vary from time to time so please check it regularly. This Notice describes the types of information collected, how that information is used and disclosed, and how you can access, modify, or delete your information. Land Securities Properties Limited (company number 961477) whose registered office is at 100 Victoria Street London SW1E 5JL (“we”, “us” or “our”) is the ‘data controller’ for the personal data we collect. We are registered with the Information Commissioner’s Office with registration number Z5806812. 1. WIFI IN OUR CENTRES Please see (wifi Link) 2. MARKETING AND GUEST SERVICES HOW DO WE COLLECT INFORMATION ABOUT YOU? 1. Entering into a competition or promotion hosted by us or our third parties: You may provide us with personal data when you subscribe to these services either online or through a physical form. 2. Enrolling for a loyalty card or a club run at our centres: you will typically provide us with your name and contact details when you enrol for a loyalty card either online or through a physical form. 3. Feedback: providing feedback to us through our online surveys where you may provide your contact details and subscribe to receiving marketing information. Our main supplier for this service is Privacy Shield accredited and based in the United States so your data will be transferred securely and legally outside of the UK. You can also provide us feedback through writing to or emailing the centre with any comments, complaints or suggestions. 4. Website usage: We may also collect information from you automatically when you access and use our Online Services, including the time and duration of your visit, the referring URL, your Internet Protocol (IP) or MAC address, the type of device you use and its operating system.
    [Show full text]
  • Annual Report 2016
    ANNUAL REPORT 2016 Freshfi eld Lane Danehill Haywards Heath Sussex RH17 7HH Tel: 0844 931 0022 www.mbhplc.co.uk Britain's Brick Specialists HIGHLIGHTS – At a glance 2016 Turnover £30.1 m +3% Profit before tax £4.6 m – Sales volumes 69.4 m +4% Net cash £4.7 m +61% NAV 65.8 p +9% Dividend 2.0 p +100% Perivan Financial Print 244144 244144 Michelmersh pp001-pp015 17/03/2017 14:34 Page 1 Contents page Chairman’s Statement 2 Chief Executives’ Review 4 Officers and Professional Advisers 6 Directors’ Biographies 7 Directors’ Report 8 Directors’ Remuneration Report 11 Strategic Report 13 Independent Auditors’ Report to the Members 15 Consolidated Income Statement 16 Consolidated Statement of Comprehensive Income 17 Consolidated Balance Sheet 18 Consolidated Statement of Changes in Equity 19 Consolidated Statement of Cash Flows 20 General Information and Accounting Policies 21 Notes t o Financial Statements 26 Parent Company Financial Statements 41 Independent Auditors’ Report to the Members 42 Company Balance Sheet 43 Statement of Cash Flows 44 Statement of Changes in Equity 45 Accounting Policies 46 Notes to Company Financial Statements 48 Notice of Annual General Meeting 54 Michelmersh Brick Holdings Plc Annual Report 2016 1 244144 Michelmersh pp001-pp015 17/03/2017 14:34 Page 2 Chairman’s Statement I am very pleased to report that the Company delivered another strong performance in 2016, which culminated in matching 2015’s levels of profit before ta x. What is more pleasing is that this was achieved despite some challenging operational issues , notably at the Michelmersh plant as reported at the half year .
    [Show full text]
  • Town's Footpaths Are 'Like a Wall of Death'
    Four editions delivered to over 88,000 homes every month downsmail.co.uk MaidstoneMaidstone TownTown EditionEdition Maidstone & Malling’s No. 1 newspaper FREE Maidstone Town | Maidstone East | Maidstone South | Malling October 2016 No. 234 News Town’s footpaths are Homes repairs anger TENANTS in a housing block are angry about the lack of mainte- nance carried out by land- ‘like a wall of death’ lords Golding Homes. 3 Invicta pupil on mend THE “poor condition” of pavements in Maidstone is condemning the dis- AN Invicta Grammar pupil who abled to a life behind closed doors, says a wheelchair user from the town. collapsed in a 10K race is now recovering. 3 Alan Prince (79) and his wife Josie for fear of what might happen.” say the perilous surfaces around Alan, wheelchair-bound since their home in Farleigh Lane are an 2010 following a brain bleed, now Rio-style carnival obstacle course of hazards. spends hours sitting at the end of A RIO-style carnival was staged They say they have to negotiate their drive to snatch a conversation to celebrate the success- uneven paving, grit, cambers, street with passers by. They claim Maid- ful Paralympics. 5 signs, limited dropped kerbs, drain stone’s poor pavements have worn covers and “pavement parkers”. out three wheelchairs in five years. They call the path outside their Josie added: “If the wheelchair Music fest ‘too loud’ home “The Rockies” and the other goes down a hole it will only go so THE Ramblin’ Man noise levels side of the road “The Wall of Death”.
    [Show full text]
  • Half-Yearly Results 2017 Appendices
    Appendices Contents Page Page Performance A2 Central London office market A19 Top 10 assets by value A3 London office market – take-up A20 Combined Portfolio valuation movements A4 Landsec’s London developments – construction contracts A21 Like-for-like portfolio valuation analysis A5 Voids and units in administration A22 Yield changes A6 Retail Portfolio vacancy – 30 September 2017 A23 Property – gilt yield spread A7 Reversionary potential A24 Rental value performance – LFL properties vs IPD Quarterly Universe A8 Lease maturities – Combined Portfolio A25 Rental and capital value trends – LFL portfolio A9 Rent reviews, lease expiries and breaks – Retail Portfolio A26 Rental and capital value trends – Retail LFL portfolio A10 Rent reviews, lease expiries and breaks – London Portfolio A27 Rental and capital value trends – London LFL portfolio A11 Reconciliation of cash rents and P&L rents to ERV A28 Portfolio performance relative to IPD Quarterly Universe A12 Net rental income analysis A29 Analysis of performance relative to IPD A13 Cash flow and adjusted net debt A30 Development programme returns A14 Expected debt maturities A31 Development expenditure A15 Financing A32 Future development opportunities A16 Financial history A33 Retailer affordability – shopping centres A17 The Security Group A34 Central London supply – September 2017 A18 The Security Group – Portfolio concentration limits A35 1 Landsec – Appendices Page A 2 Performance Creating shareholder value while strengthening the balance sheet 250 50% 240 230 45% 220 210 200 40% 190
    [Show full text]
  • Archaeological Evaluation Report Westwood Cross, Thanet Kent
    Archaeology South-East ASE Archaeological Evaluation Report Westwood Cross, Thanet Kent NGR: TR 36455 67441 Planning Ref: F/TH/12/0781 ASE Project No: 6729 Site Code: TWE14 ASE Report No: 2014159 OASIS id: archaeol6-179227 Catherine Douglas Archaeological Evaluation Report Westwood Cross, Thanet Kent NGR: TR 36455 67441 Planning Ref: F/TH/12/0781 ASE Project No: 6729 Site Code: TWE14 ASE Report No: 2014159 OASIS id: archaeol6-179227 Catherine Douglas With contributions by Anna Doherty and Karine Le Hégarat Illustrations by Justin Russell May 2014 Archaeology South-East Units 1 & 2 2 Chapel Place Portslade East Sussex BN41 1DR Tel: 01273 426830 Fax: 01273 420866 Email: [email protected] Archaeology South-East Eval: Westwood Cross, Thanet, Kent ASE Report No: 2014159 Abstract Archaeology South-East was commissioned by CgMs Ltd, to undertake an archaeological evaluation by trial trenching on land at Westwood Cross, Thanet, Kent. Five trenches were excavated. A single undated post hole containing a piece of struck flint was identified in Trench 2, and a sherd of medieval pottery was retrieved from the topsoil in Trench 5. Some degree of modern truncation was identified in Trench 1, but the paucity of archaeology in the other trenches and the survival of an intact subsoil horizon suggest a lack of past activity on the site. © Archaeology South-East UCL i Archaeology South-East Eval: Westwood Cross, Thanet, Kent ASE Report No: 2014159 CONTENTS 1.0 Introduction 2.0 Archaeological Background 3.0 Archaeological Methodology 4.0 Results 5.0 The Finds
    [Show full text]
  • Property Investor Profiles
    ANG Property Investor Profiles Fund Anglesea Capital Angelo, Gordon Europe Ltd 11 Hill Street, London W1J 5LF 25 Hanover Square, London W1S 1JF Tel: 020 7629 5324 Tel: 0207 758 5300 Fax: 0207 758 5420 Email: [email protected] Email: amittal@angelogordon. com Web: www.angleseacapital.com Web: www.angelogordon.com Contacts Contacts Rhys Lewis (Managing Director) Anuj Mittal (Real Estate) Nick Sowerbutts (Asset Manager) Comment Comment US private equity fund manager Angelo Gordon announced plans Anglesea Capital Ltd was formed by former Rockpoint director Rys to invest a substantial proportion of its $2bn of property funds in the Lewis. UK. (07/09) 12/11 - London & Stamford (94% interest) and Anglesea (6% The privately owned fund manager is investing two funds: its interest) sold the Triangle Distribution Portfolio and including the $800m AG Core Plus Realty Fund II, of which it has already spent recently acquired 5110 Magna Park, Lutterworth for a consideration around 35%; and its $1.25bn opportunity fund, the AG Realty Fund of £265m . Anglesea will continue to manage the portfolio with VII, of which around 25% is invested. Blackstone as its equity backer. 11/11 - Angelo, Gordon & Co bought the Frimley Business Park in Surrey, in partnership with Investream, for £15m - reflecting a Anglo Scottish Properties Plc 13.2% yield. The park comprises nine office buildings totalling 100a Chalk Farm Road, London NW1 8EH 161,074 sq ft on a 13.4-acre site. Tel: 020 7284 1144 Fax: 020 7267 2477 Email: [email protected] 06/12 - Angelo, Gordon paid Avestus Capital Partners £70m for Senator House, 85 Queen Victoria Street, EC4 - reflecting a net Contacts initial yield of 8.75%.
    [Show full text]