Derwent London plc (DLN) 2010年年度报告「LSE」.pdf

1、Derwent London plcReport&Accounts2010ContentsWho we are 1 Overview 2At a glance 4Financial highlights 8Chairmans statement 10 Strategy 12Business model 14Risk management 19 Performance 22Our portfolio 24Our market 25 Property review Valuation 26 Portfolio management 28 Investment activity 32 Project

2、s 33 Angel Building case study 36 Development pipeline:short-term 38 Development pipeline:long-term 42 Central Cross case study 44 Finance review 46 Principal properties 52 Responsibility 54Sustainability 56 Governance 66Board of Directors 68Statement of Directors responsibilities 70Directors report

3、 71Report of the Remuneration Committee 82Report of the Nominations Committee 92Report of the Audit Committee 93Independent Auditors report 94 Financial statements 96Group income statement 98Statements of comprehensive income 99Balance sheets 100Statements of changes in equity 101Cash flow statement

4、s 102Notes to the financial statements 103 Five year summary 134List of definitions 135Financial calendar and advisors 136Cover:The Angel Building,EC1Derwent London plc Report&Accounts 2010 1Who we areDerwent London is the largest real estate investment trust focused on the central London commercial

5、 property market.Principal objectiveWe aim to deliver above average long-term returns to shareholders.StrategyOur core strategy is to acquire and own a portfolio of central London properties that offer significant opportunities to enhance and extract value through refurbishment,regeneration and rede

6、velopment.Business modelWe will deliver this strategy by:investing in our portfolio,actively seeking opportunities to acquire properties with income-generating characteristics and regeneration potential;creating exciting new spaces that meet the current and future needs of our tenants and benefit th