Sp movement3 May 2022 17:33
From the March update: Based on these comments, I can’t see why anything has fundamentally changed.
Strong start to FY 2022 with 1.8 million sq ft of near-term development starts in Q1 2022, adding a potential £13.1 million of contracted rent, of which 56% has been pre-let.
· FY 2022 guidance increased to 3-4 million sq ft of starts and £350-400 million of capex into development, compared to long-term target run rate of 2-3 million sq ft per annum; maintaining 6-8% target yield on cost.
· Record levels of occupier demand across our portfolio with active negotiations on more than 10 million sq ft over 11 sites.