Portfolio statistics

Rental income
At 31 March 2009
Wholly-owned Share of joint ventures  
  Rent roll
£m
Reversionary potential
£m
Rental values
£m
Rent roll
£m
Reversionary potential
£m
Rental values
£m
Total rental
values
£m
London North of Oxford St Office 19.8 (2.2) 17.6 3.6 0.9 4.5 22.1
  Retail 4.0 0.2 4.2 4.1 0.9 5.0 9.2
  Rest of West End Office 8.6 0.9 9.5 7.4 (0.1) 7.3 16.8
  Retail 4.7 1.2 5.9 4.0 0.3 4.3 10.2
  Total West End   37.1 0.1 37.2 19.1 2.0 21.1 58.3
  City and Southwark Office 11.9 1.9 13.8 1.1 0.2 1.3 5.1
  Retail 0.6 0.6 1.2 0.1 0.1 1.3
  Total City and Southwark 12.5 2.5 15.0 1.2 0.2 1.4 16.4
Total let portfolio 49.6 2.6 52.2 20.3 2.2 22.5 74.7
Voids 4.5 2.1 6.6
Premises under refurbishment 2.0 0.6 2.6
Total portfolio 58.7 25.2 83.9
Rent roll security, lease lengths and voids
At 31 March 2009
Wholly-owned joint ventures
  Rent roll secure
for five years
%
Weighted average
lease length Years
Voids
%
Rent roll secure for five years
%
Weighted average
lease length
Years
Voids
%
London North of Oxford St Office 63.1 8.3 11.9 24.8 4.0 20.2
  Retail 66.7 7.1 4.1 77.2 10.2 5.7
  Rest of West End Office 22.6 3.0 2.0 49.9 4.7 7.2
  Retail 53.7 9.3 4.1 81.5 12.2 0.6
  Total West End   52.9 7.0 7.8 58.2 7.4 8.1
  City and Southwark Office 10.3 2.7 6.5 16.7 2.1 12.6
  Retail 14.4 6.6 75.6 11.4
  Total City and Southwark 10.5 2.9 6.2 22.4 3.0 11.7
Total let portfolio 42.2 6.0 7.3 56.1 7.1 8.7
Rental values and yields
  At 31 March 2009
  Wholly-owned Joint ventures Wholly-owned Joint ventures
  Average rent
£psf
Average ERV
£psf
Average rent
£psf
Average ERV
£psf
Initial yield
%
True equivalent yield
%
Initial yield
%
True equivalent yield
%
London North of Oxford St Office 45 39 26 32 4.9 6.9 5.4 7.2
  Retail 41 36 61 72 5.0 6.1 5.4 6.3
  Rest of West End Office 43 48 37 36 5.4 6.2 6.3 6.9
  Retail 60 75 45 50 4.1 5.5 5.5 6.1
  Total of West End   45 44 39 41 4.9 6.4 5.7 6.6
  City and Southwark Office 28 31 24 33 7.5 7.6 4.6 8.0
  Retail 13 27 42 48 2.7 6.8 6.5 7.6
  Total City and Southwark 26 31 26 34 7.3 7.6 4.7 8.0
Total portfolio 38 39 38 40 5.4 6.6 5.7 6.7