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【出版时间及名称】：2010年2月英国Reits行业研究报告
【作者】：德意志银行
【文件格式】：PDF
【页数】：45
【目录或简介】：
Table of Contents
Direct property markets.................................................................... 3
Property values recovered strongly in 09H2 .............................................................................3
Yield compression to slow........................................................................................................4
London office rents most likely to surprise on the upside in 2010 ...........................................4
Retail rents under pressure but signs of stabilisation for prime................................................8
Industrial vacancy rates continue to rise with demand weak..................................................11
Despite recovery in 09H2 direct property still below ‘fair value’.............................................11
Property market forecasts.......................................................................................................13
Property shares in 2010................................................................... 15
Not a year of two halves but a year of four quarters...............................................................15
De-leveraging complete for REITs but not for banks ..............................................................15
Property shares and interest rates ..........................................................................................17
Property and inflation ..............................................................................................................18
Upgrading NAV forecasts by 8% for 2010..............................................................................19
Recommendations........................................................................... 21
Large Cap UK-REITs................................................................................................................21
Mid Cap UK-REITs...................................................................................................................24
Sector performance charts ............................................................. 26
British Land Co Plc .......................................................................... 34
Land Securities ................................................................................ 35
Hammerson...................................................................................... 36
Liberty International Plc.................................................................. 37
SEGRO.............................................................................................. 38
Derwent London.............................................................................. 39
Great Portland Estates .................................................................... 40
Shaftesbury Plc................................................................................ 41
Big Yellow Group PLC..................................................................... 42
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