Our strategy
Creating value for our stakeholders
We invest to create thriving destinations in London's West End where people enjoy visiting, working and living.
Our strategy
How we create value
Our strategy is to deliver long-term income and value growth from our unique portfolio of properties through investment, curation and responsible stewardship, benefitting all stakeholders and contributing to the success of the West End.
Our strategic priorities
How we deliver our strategy
Our approach combines investment, curation and responsible stewardship, benefitting all stakeholders and contributing to the success of the West End.
- Deliver best-in-class service to our customers
- Leverage deep understanding of consumers and commercial data
- Invest in and nurture remarkable destinations in London’s West End
- Dynamic leasing strategy
- Reuse, repurpose and improve our buildings
- Enhance public realm
- Prudent, conservative approach to financial leverage and risk
- Maintain cost and capital discipline
- Broad community and stakeholder engagement
- Responsible stewardship
- Commitment to the environment and clear sustainability goals
Our business model
Underpinning our strategy
Our resources
Impossible-to-replicate portfolio
A diverse mixed-use portfolio of scale in the heart of London’s West End
Experienced, creative team
With a deep understanding of our markets and track record of value creation
Strong capital structure
Resilient and flexible capital structure with a prudent approach to financial leverage and risk
Effective governance and risk management
A governance structure that supports and helps the delivery of strategic objectives with transparency
How we measure
Value creation
Create, grow and deliver long-term sustainable economic and social value
People
Attract, develop and retain talented people
Sustained long-term growth
Deliver long-term growth in portfolio value, earnings, cash flow and dividends
Impact
Minimise the environmental impact of our operations and engage with stakeholders
H1 2026 performance
Strong financial and operational performance
+8%
underlying earnings growth
+3.9%
EPRA NTA of 223p
+3.4%
L-f-L valuation growth to £5.6bn
+4.9%
Total Accounting Return
+5.0%
Total Property Return
6.4x
net debt to EBITDA
84%
employee engagement
85%
commercial assets EPC A–B by ERV
54%
carbon footprint reduction
