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FY27 Q1 Trading Update

Q1 FY27 Trading Update: Operational momentum, disciplined capital allocation

We’ve made a strong start to FY27, delivering another quarter of operational momentum with leasing outperformance, further strengthening our balance sheet and completing the strategic acquisition of The Moor in Sheffield at an attractive acquisition price - simultaneously concluding our successful BRAVO capital partnership, delivering an IRR of +21%.

Our performance reflects the strength of our strategy: owning and operating essential everyday retail destinations, maintaining affordable rents, working closely with our occupiers and compounding value through active asset management over time.

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