Overview

Our largest source of income is through the sale of properties. Every year we sell c.600 properties when they become vacant and we occasionally sell further properties while they are tenanted when they no longer present sufficient value growth prospects.

Our ability to manage large residential portfolios allows us to offer our expertise and services in the form of fund, property and asset management to third party clients, providing us with an increasing level of recurring income from fees.

Our second largest source of income is our rental income. Historically, the types of assets we owned provided strong sales income and relatively lower rental income, but as we deliver on our strategy, focusing on the private rented sector, a greater proportion of our revenue will come from rents.