The debentures benefit from a combined collateral pool valued at £1,575,570 000 comprised of £1,550,570,000 of properties valued by the Comapny's Valuers knight Frank and £25,000 000 of cash at 30 September 2012 with a net annual income of £87 913.308. The assets coner rato at 30 September 2012 is 1671 times and income cover ratio 1670 times
The pool has 24 properties ,and 215 temamts.The geographic and sector diversity of the collateral pool by market value and net annual income is shown below.
*On 14 December2012, the property hldon House, 2-3 hldon Street London was released from charge and substituted by The Ardung & Hsbhs Department Store, Clapham All information provided as at 30 September 2012 is pro fonna for this substitution
Geographic Diversity
Area | Market Value | Rent Diversity |
|---|---|---|
| East Midlands | 9.3% | 8.6% |
| Greater London | 1 9% | 2 0% |
| North | 15.9%. | 14.1% |
| North West | 6.5% | 6.5% |
| Scotland | 5.5% | 6.1% |
| South East | 17.2% | 20.4% |
| South West | 6.5% | 6.6% |
| West End | 32.9% | 31.3% |
| Yorks & Humberside | 4.8% | 4.4% |
Sector Diversity
Area | Market Value | Rent Diversity |
|---|---|---|
| Department Stores | 1.7% | 1.6% |
| Retail Warehouses | 60.2% | 58.5% |
| Shopping Centres | 5.2% | 8.6% |
| West End Offices | 32.9% | 31.3% |
Gross annual income by tenant
The top 10 rr’ean:s conrurc.ote 46.515% to the pool’s scone lLy gross anneal incomet an follows
| % | |
|---|---|---|
| 1 | Sec of State for Communities | 14.5% |
| 2 | Homebase Limited | 6.1% |
| 3 | JP Morgan Chase Bank, NA | % |
| 4 | Next Group PLC | 4.3% |
| 5 | Marks & Spencer PLC | 3.8% |
| 6 | Debenhaims Retail PLC | 3.4% |
| 7 | Asda Stores Limited | 3.1% |
| 8 | DSG Retail Limited | 2.9% |
| 9 | Hachette UK Ltd | 2.3% |
| 10 | BHSLimited | 2.0% |
The following properties were charged at the debenture pant as at 30 September 2012
Eaoqrite Centre! Baeildnn
Weston Lock Retail Park Bath
Tollgate Centie. Colchester
St. James lit a P ik Poe ti. ruin
Cuckoo Bra in Retail Park Dumtries
Euston Tower, Euston Road, London
1,4 and 7 Triton Square. Euston Road Landon
Westsrde Retail Park, Leeds
St. James Rela I Park Nnileaniprnn
Teesaide Retail Paik. Stockton
A entirate Rebel Park, Wakefield
leesside Park Phase 2 Stockton
Orbital Shopping Park, Swindon
Hnmebasc, Harrow Weald
Hawehase. Walton on Thames
Spnngtield Retail Park, Etgin
Homebase, Richmond
338 Euston Road, London
Homebase, Camberley
350 Euston Road, London
Denton Crown Point Retail Park, Dentnn
Orpington Nugent Retail Park. tDrpington
Pltbrook Retaut Park, Oittbrosk
The Amdimrg & Hobbs Departrnerc Stare. Claphaw