Financial Activity

Retail Portfolio

• Princesshay shopping centre development in Exeter opened, now 92% let
• £0.6bn assets sold in H1, 4.1% above valuation (pre-disposal costs)
• Joint venture entered into with J Sainsbury on three supermarket assets since period end

London Portfolio

• 97,700m² of developments completed in H1 and now 95% let
• Record rents for Mid-town in the range of £71psf – £76psf achieved in the tower building at New Street Square
• The entire office element of 34,600m² at Bankside 2&3 let to Royal Bank of Scotland
• £0.3bn assets sold in H1, 15.3% above valuation (pre-disposal costs)

Property Partnerships

• Land Securities Trillium new business – £65m invested and £209m committed in acquiring PFI contracts
• Disposals of £83.0m generating a profit of £25.1m
• Good progress on establishing the PFI fund: £568m of debt raised since period end