Full Year Results Presentation
Lease length and occupancy
As at 31 March 2021
West End
City
Offices
Retail Parks
Shopping Centre
Superstores
Department Stores
High Street
Leisure
Retail
Total
Average Lease Length (yrs)
Occupancy Rate (%)
To Expiry
To Break
EPRA Occupancy
Occupancy"
1,2,3
5.5
4.3
96.3
96.6
8.4
7.2
84.6
90.7
6.7
5.5
91.3
94.1
6.4
4.7
93.3
94.7
5.7
4.4
91.0
93.3
6.3
6.3
96.6
96.6
23.1
22.9
97.0
97.0
3.7
3.1
91.0
93.7
13.0
12.8
94.0
94.0
6.5
5.1
92.5
94.1
6.6
5.3
91.8
94.1
Canada Water is now excluded from the standing investment analysis as it is valued as a development asset on a residualised basis
1 Space allocated to Storey is shown as occupied where there is a Storey tenant in place otherwise it is shown as vacant. Total occupancy would rise from 94.1% to 95.4% if Storey
space were assumed to be fully let.
2 Including accommodation under offer or subject to asset management
3 Where occupiers have entered administration or CVA but are still liable for rates, these are treated as occupied. If units in administration are treated as vacant, then the occupancy rate
for Retail would reduce from 94.1% to 90.6%, and total occupancy would reduce from 94.1% to 92.4%
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