10
SECTION 3
PORTFOLIO REVIEW
Performance enhanced by local knowledge…
•
Two acquisitions (totalling £5.2m) made with value add potential
•
Active internal portfolio management
– 66%
tenant retention at lease break/expiry, 8.1% ahead of March 2013 ERV
– 2
no. new lettings totalling £0.18 million pa, 12.0% ahead of March 2013 ERV
–
Average lease length maintained at 6.0 years (March 2013: 5.9 years)
–
Portfolio occupancy (all property) 89% (March 2013: 91%
)
•
Refurbishment proposals at Maidenhead, Bracknell and
Wilson Street EC2 progressed
• 3.9%
increase in portfolio capital value to £225.87m (IPD: 1.4%)
• 2.8% (0.8%
L/L) increase in portfolio rental value to £17.24m (IPD: 0.3%)
• 6.7%
total portfolio return (IPD: 4.8%)