Our property portfolio is focused on high quality destination retail locations and central London offices which we believe are well placed to benefit from growing customer demand. The portfolio is characterised by high occupancy rates and long leases and generates strong and stable rental income.
We directly own and manage around half of our properties by value with the balance being held through joint ventures and investment funds. Joint ventures and investment funds are an important part of our business. We are able to co-invest in large projects with partners who have complementary skills and experience. They also give us access to high quality, often off-market assets. Our joint venture partners include Blackstone, London & Stamford, Sainsbury and Tesco.
