Leasing Momentum & OccupancySustained leasing success and rising occupancy are durable drivers of rental income and cash flow. Being ahead of ERV on large lettings and lifting EPRA occupancy to 88% indicate the portfolio captures tenant demand in prime locations, supporting predictable rental growth and lower vacancy-related volatility.
High Development Yields & IRRsConsistently strong development economics — >7% yields and mid-teens IRRs — show the company can create value through active redevelopment. This capability underpins portfolio recycling strategies, enhances long-term rental income potential, and supports capital returns beyond cyclical rent moves.
Improved Balance Sheet LeverageA modestly lower debt-to-equity ratio and a healthy equity base provide financial flexibility for development and acquisitions. Improved leverage management reduces refinancing risk and helps absorb interest cost shocks, supporting longer-term investment capacity and dividend resilience.