Activity
£28m of investment lettings
£13m of development lettings
Acquisitions, development and refurbishment expenditure of £301m
Disposals of £413m
Supported a further 183 people from disadvantaged backgrounds into jobs through our Community Employment Programme
Reduced carbon intensity (kgCO2/m2) by 18.5% compared to 2013/14 baseline
Performance
Ungeared total property return of 3.7% (IPD Quarterly Universe 4.6%)
Total business return of 1.4%
Combined Portfolio valued at £14.4bn, with a valuation deficit of 1.0%
Voids in the like-for-like portfolio: 4.6% (31 March 2016: 2.4%)
Financials
Group LTV ratio at 22.2% (31 March 2016: 22.0%), based on adjusted net debt of £3.3bn (31 March 2016: £3.2bn)
Weighted average maturity of debt at 9.4 years (31 March 2016: 9.6 years)
Weighted average cost of debt at 4.2% (31 March 2016: 4.9%)
Cash and available facilities of £1.6bn
Full year dividend of 38.55p, up 10.1%
