Activity
£37.6m of investment lettings
£33.8m of development lettings
Acquisitions, development and refurbishment expenditure of £496.0m
Disposals of £1,493.1m
Supported a further 196 people from disadvantaged backgrounds into jobs through our Community Employment Programme
Performance
Ungeared total property return 11.5% (IPD Quarterly Universe 11.3%)
Total business return of 13.4%
Combined Portfolio valued at £14.5bn, with a valuation surplus of 7.0%
Disposals completed at a surplus of 9.1% to book value
Voids in the like-for-like portfolio 2.3% (31 March 2015: 2.6%)
Financials
Group LTV ratio at 22.0%, based on adjusted net debt of £3.2bn
Weighted average maturity of debt at 9.6 years
Weighted average cost of debt at 4.9%
Cash and available facilities of £1.5bn
Final dividend recommended at 10.55p, bringing the dividend for the year to 35.0p, up 9.9%
