interim results presentation 6 months ended 31 december 2015 · development type status structure...
TRANSCRIPT
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Passing rent ERV Value
% of
portfolio
Valuation
incr/(decr) Initial yield
Reversionary
yield
Retail & Leisure 3.7 4.4 72.6 19% -1.0% 4.9% 5.7%
Merrion Centre (ex offices) 7.5 7.8 99.5 26% 1.0% 7.1% 7.4%
Offices 2.4 3.8 57.1 15% 2.3% 4.0% 6.3%
Hotels 1.4 1.6 26.7 7% 8.7% 5.0% 5.5%
Out of town retail 3.0 3.7 50.4 13% -6.6% 5.6% 6.9%
Distribution 0.4 0.4 5.8 1% 2.8% 6.5% 6.4%
Residential 0.6 0.6 10.7 3% -0.1% 5.3% 5.4%
19.1 22.1 322.7 84% 0.1% 5.6% 6.5%
Development property 1.9 1.9 35.7 9% 30.2%
Other Car parks 1.3 1.3 25.9 7% 2.4%
Portfolio 22.3 25.3 384.2 100% 2.4%
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Development Type Status Structure
Estimated
GDV
Income
@ 5%
Burlington House (at 50%) Manchester Residential Underway JV £13m £0.6m
George Street (at 50%) Leeds Leisure High level planning JV £10m £0.5m
Eider House Manchester Residential Detailed planning TBC £40m £2m
Leeds Car Park Leeds Car Park Detailed planning £12m £0.6m
Merrion Cinema Leeds Offices Detailed scoping £42m £2.1m
Whitehall Road No2 Leeds Offices Detailed planning £71m £3.5m
Leeds Vicar Lane Leeds Retail & Leisure High level scoping £9m £0.4m
White Hall Road No3 Leeds Offices Strategic Framework £40m £2m
Whitehall Road No7 Leeds Offices / Leisure Strategic Framework £28m £1.4m
Manchester Residential Tower A Manchester Residential Strategic Framework £82m £4.1m
Manchester Residential Tower B Manchester Residential Strategic Framework £55m £2.7m
Manchester Residential D Manchester Residential Strategic Framework £28m £1.4m
Manchester Commercial Manchester Mixed Use Strategic Framework £76m £3.8m
Manchester Car Park Manchester Car Park Strategic Framework £12m £0.6m
Rickmansworth London Residential Unscoped £5m £0.2m
Merrion Corner Tower Leeds Residential / Mixed Use Unscoped £50m £2.5m
£573m £28.4m
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1963
2006
26th May 1964The Merrion Centre, home to the Mecca Ballroom, Tesco, bowling alley, Woolworths, and cinema officially opened by Marjorie Ziff.
1977The Odeon Cinema closes after it’s last showing “Gone with the Wind”
Early 1970’sMorrison’s open flagship 40,000sq ft store in the heart of Leeds at the Merrion Centre
1963First tenant, Radio Rentals, opens at the Merrion Centre
1970’sRoof added making the Merrion Centre an indoor venue
2006Initial £70m 10 Year development plan announced
2005“Oceana Nightclub” opens at the Merrion Centre at a cost of £7m further enhancing leisure destination
1966The Merrion Hotel Opens
2017The Merrion Centre welcomes a record 11.5m visitors in 20172007
2018
2017Merrion Hotel reopens as “ibis Styles Leeds City Centre Arena Hotel” following £10m investment
2016Morrisons supermarket expands unit by an additional 10,000 sq ft as part of multi-million pound investment with a new 25 year lease
2009Town Centre House refurbished
2014The “new front” opens following £50m investment, delivering enhanced retail and leisure units (including a Puregym) plus enhanced parking facilities.
201313,000 Capacity First Direct Arena Opens opposite the Merrion Centre
2018Merrion House due to reopen following £35m development in partnership with LCC
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