Welcome
to our 2022
Annual Report
Our purpose To be a responsible owner of commercial real estate, helping our occupiers succeed and being valued by all our stakeholders.
Strategic Report 2 Highlights 4
Sustainability and Net Zero Carbon
6 8
Chair’s Statement
Chief Executive’s Review
12 14
Business Model Our Marketplace
20 Our Strategy 22 Our Strategy in Action 28 Key Performance Indicators 32 Portfolio Review 44 Financial Review 48 Principal Risks 53 TCFD Statement 58 Section 172 Statement 60 Being Responsible Governance
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68 Chair’s Introduction 70 Board of Directors 72 Our Team
74 Leadership and Purpose 80 Division of Responsibilities 82 Composition, Succession and Evaluation 85 Audit, Risks and Internal Controls 91 Remuneration Report 109 Directors’ Report Financial Statements 113 Independent Auditor’s Report 117 Consolidated Statement of Comprehensive Income 118 Consolidated Statement of Changes in Equity 119 Consolidated Balance Sheet 120 Consolidated Statement of Cash Flows 121 Notes to the Consolidated Financial Statements Additional Information 139 Supplementary Disclosures 143 Property Portfolio 144 Five Year Financial Summary 145 Glossary 146 Financial Calendar 147 Shareholder Information
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