Annual Report 2012 - Cadogan

CHIEF ExECUTIVE’S REVIEW 31 DECEMBER 2012
lettings
We experienced good demand for residential, retail and
office units throughout 2012. As a result vacancy levels
across all our sectors remained low throughout the year and
we anticipate this continuing into 2013.
We have experienced some fluctuations in demand for
residential lettings over the course of 2012, but we monitor
the market closely and are able to respond quickly to
changes to maintain our occupancy levels. We have
devoted much effort to improving the speed with which we
refresh units between lettings, while at the same time
improving the quality of both the accommodation we
provide and the quality of service we offer to our customers.
Our most significant new retail lettings in the year were of
the three reconfigured units at the north end of Sloane Street
which were let to Tom Ford, Ermenegildo Zegna and
Alberto Ferretti. The first two are new to Sloane Street and
will further enhance the breadth and quality of brands
represented on the street. We have continued to attract
other new and interesting retailers including Browns,
Bimba & Lola and Stefanel. In response to their changing
needs we were also able to provide additional space to
some of our most successful existing retailers, including
Hackett, Loro Piana and Smythsons.
Demand from international brands looking to enter or
extend their presence into London has remained strong
throughout the year. We have a number of lease expiries
arising in 2013, particularly in Duke of York Square and
we have discussions with a number of high-quality
international retailers who are keen to come to Chelsea.
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