ALISON WATSON | LIBERUM CAPITAL
The statement reads much as expected with the only major news here that Robert Noel is to succeed Francis Salway as chief executive. We believe that the news will be well received by shareholders.
KEITH CRAWFORD | PEEL HUNT
Robust trading across the portfolio: low vacancy rates, units in administration under control, leases signed in line with estimated rental values and progress on developments (but no major pre-lets on London developments yet).
HARM MEIJER | JP MORGAN CAZENOVE
We believe Francis Salway leaves the company in good shape. Whilst we knew this change was coming, it is sooner than we expected as we thought that Robert Noel would have to deliver on the development pipeline first.