Derwent London plc (DLN) 2011年年度报告「LSE」.pdf

1、Derwent London plcReport&Accounts 2011Derwent London plcRegistered office:25 Savile RowLondon W1S 2ERT+44(0)20 7659 3000F+44(0)20 7659 Registered No.1819699Derwent London plc Report&Accounts 2011Who we are 1Overview 2 At a glance 4 Financial highlights 8 Chairmans statement 10 Our portfolio 13 Our m

2、arket 14Strategy 16 Business model 18 Business strategy 19 Property lifecycle 20 Key performance indicators and metrics 22 Risk management 25Performance 28 Property review 30 Valuation 30Portfolio management 32 Investment activity 36 Projects 37 Planning the future 40 Development pipeline 44Finance

3、review 48Sustainability 56Governance 70 Board of Directors 72 Statement of Directors responsibilities 74 Directors report 75 Report of the Remuneration Committee 86 Report of the Nominations Committee 96 Report of the Audit Committee 97 Independent Auditors report 98Financial statements 100 Group in

4、come statement 102 Statements of comprehensive income 103 Balance sheets 104 Statements of changes in equity 105 Cash flow statements 106 Notes to the financial statements 107Principal properties 140Five-year summary 142List of definitions 143Financial calendar and advisors 144 ContentsDesigned and

5、produced by MerchantCantos and CDT D Printed by Pureprint GroupThis report is printed utilising vegetable based inks on Hello Matt,which has been sourced from well managed forests independently certified according to the rules of the Forest Stewardship Council.1 1Derwent London plc Report&Accounts 2

6、011Who we areDerwent London is the largest real estate investment trust(REIT)focused on the central London commercial property market.Principal objectiveWe aim to deliver above average long-term returns to shareholders.Business modelOur aim is to acquire and own a portfolio of central London propert