Smart Approach in Retail Resilience
Annualised rent & estimated rental value (ERV)
As at 30 September 2020
Annualised Rents
(Valuation Basis) £m¹
ERV
I
£m
I
Average Rent
(£psf)
Group
JVs & Funds
Total
Total
Contracted²
ERV
I
West End³
134
3
137
195
62.9
71.5
!
City³
7
70
77
135¦
53.8
58.6
|
I
Offices³
141
73
214
330
59.2
65.9
|
J
I
Retail Parks
79
55
134
120
23.6
21.0
Shopping Centre
|
I
55
46
101
102
26.6
26.4
I
I
+
I
Superstores
4
4 |
3 ¦
18.9
14.4
I
I
Department Stores
3
3 i
4!
2.9
4.2
|
I
High Street
6
6!
8!
12.7
16.8
Leisure
14
1
15 ¦
15¦
17.1
16.1
I
Retail
161
102
263
252
I
22.1
20.9
I
Residential4
Canada Water5
Total
1
1
3 i
9.4
34.5
I
I
I
7
7 !
9 !
16.7
19.7
T
I
T
310
175
485
594¦
29.6
32.9
On a proportionally consolidated basis including the group's share of joint ventures and funds, excluding committed, near term and assets held for development
1 Gross rents plus, where rent reviews are outstanding, any increases to ERV (as determined by the Group's external valuers), less any ground rents payable under head leases,
excludes contracted rent subject to rent free and future uplift
2 Annualised rent, plus rent subject to rent free
3 £psf metrics shown for office space only
4 Standalone residential
5 Reflects standing investment only
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