Derwent London plc (DLN) 2017年年度报告「LSE」.pdf

1、REPORT&ACCOUNTS 2017DERWENT LONDON PLC is the largest London-focused real estate investment trust(REIT)and owns a 5.5 million sq ft portfolio of mainly commercial real estate in 13 villages across central London.What we doThe majority of our portfolio is income producing.We aim for a balance between

2、 properties with potential to add further value through regeneration and those which have already been improved but where our asset management skills can continue to grow value and income.How we do itOur focus on growth and building relationships drives an income profile with embedded upside,revital

3、ises neighbourhoods and benefits local communities.Our focus on earnings ensures we aim to increase rents while carefully managing our cost base.Underlying the business is a strong balance sheet with modest leverage and uncomplicated and flexible financing.Derwent London plcOur overall objective is

4、to provide above average long-term returns to our shareholders,while delivering benefits for all ourother stakeholders.Front cover image:White Collar Factory EC1Back cover image:Jean Prouv artwork at White Collar Factory EC1Above:25 Savile Row W1Strategic reportGovernanceFinancial statements 01 02 0

5、32017 in summary.04Chairmans statement.06Chief Executives statement.07A well-placed portfolio.10London:evolving and resilient.15Central London office market.16Our business model.18Our strategy.20Measuring our performance.30Our principal risks.34Property review.44 Valuation.45 Asset management.48 Dev

6、elopment and refurbishment.56 Investment activity.61Finance review.64Responsibility.72Introduction from the Chairman.88Board of Directors.90Senior management.92Corporate governance statement.94Nominations Committee report.102Audit Committee report.106Risk Committee report.112Remuneration Committee r