Active property management

Making the most our property

Our buildings and the land on which they sit are important assets for us – owning both allows us to operate flexibly, exploit opportunities for development, create value for our shareholders – and a better shopping experience for our customers. Active property management means making the most of the value it offers.

The proportion of our freehold or long-leasehold property has increased and is at 65 per cent, including half the space of the properties within two joint ventures we have with Land Securities and British Land.

We have a significant portfolio of properties with development potential. In addition to 297 freehold and long-leasehold properties, the majority of which can be extended, we have 43 properties within our joint ventures.

May 2009