Smart Approach in Retail Resilience

Best in class, fully integrated platform delivering Development Active asset management £1.8bn profit in 10 years Repositioning Paddington Retail delivering in tough markets WWNNVVV • M&S MAS £470m acquisition in 2013 Developed 4 Kingdom Street & invested in public realm Added Storey and improved retail and F&B offer 95% occupancy Operational outperformance: footfall +21% and retailer sales +11% above benchmark in September & October September rent collection 62% LO

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