The debentures benefit from a combined collaterat pool vafued at £1,610,148,600 comprised of £1,550,148,600 of properties vafued by the Company’s Valuers Knight Frank, and £60,000,000 of cash at 30 September 2013 with a net annual income of £91,240,255. The assets cover ratio at 30 September is 1.709 times and income cover ratio 1.656 time
The pool han 23 properties and 211 tenants, The geographic and sector diversity of the collateral pool by market value and net annual income is shown below:
Geographic Diversity
Area | Market Value | Rent Diversity |
|---|---|---|
| East Midlands | 6.2% | 6.0% |
| Greater London | 1 9% | 2.0% |
| North | 16.6%. | 14.5% |
| North West | 5.9% | 6.5% |
| Scotland | 5.3% | 5.7% |
| South East | 18.1% | 19.8% |
| South West | 6.3% | 6.4% |
| West End | 34.7% | 34.4% |
| Yorks & Humberside | 4.9% | 4.7% |
Sector Diversity
Area | Market Value | Rent Diversity |
|---|---|---|
| Department Stores | 1.8% | 1.7% |
| Retail Warehouses | 58.5% | 58.2% |
| Shopping Centres | 4.9% | 7.7% |
| West End Offices | 34.7% | 34.7% |
Gross annual income by tenant
The top 10 tenants contribute 49.7% to the pool’s income (by gross annual income) as follows:
% | ||
|---|---|---|
| 1 | Sec of State for Communities | 15.9% |
| 2 | Next Group PLC | 6.3% |
| 3 | Homebase Limited | 5.0% |
| 4 | JP Morgan Chase Bank, NA | 4.7% |
| 5 | Marks & Spencer PLC | 4.3% |
| 6 | DSG Retail Limited | 3.3% |
| 7 | ATOS IT Services Uk Limited | 3.3% |
| 8 | Hachette UK Ltd | 2.5% |
| 9 | Debenhams Retail Plc | 2.4% |
| 10 | Elexon Limited | 2.1% |
The following properties were charged at the debenture pant as at 30 Septemeber 2013
Eaoqrite Centre! Baeildnn
Weston Lock Retail Park Bath
Tollgate Centie. Colchester
St. James lit a P ik Poe ti. ruin
Cuckoo Bra in Retail Park Dumtries
Euston Tower, Euston Road, London
1,4 and 7 Triton Square. Euston Road Landon
Westsrde Retail Park, Leeds
St. James Rela I Park Nnileaniprnn
Teesaide Retail Paik. Stockton
A entirate Rebel Park, Wakefield
leesside Park Phase 2 Stockton
Orbital Shopping Park, Swindon
Hnmebasc, Harrow Weald
Hawehase. Walton on Thames
Spnngtield Retail Park, Etgin
Homebase, Richmond
338 Euston Road, London
Homebase, Camberley
350 Euston Road, London
Denton Crown Point Retail Park, Dentnn
Orpington Nugent Retail Park. tDrpington
Pltbrook Retaut Park, Oittbrosk
The Amdimrg & Hobbs Departrnerc Stare. Claphaw