Within our portfolio, occupancy continues to be above that recorded by the IPD index. We have had considerable success increasing our occupancy levels, which have improved from 88% in 2013 to 94% in 2017.

Key to this success has been our ability to attract new occupiers while retaining existing ones through our occupier focused approach. We work closely with our numerours occupiers to help them 'right size' their business. We genuinely believe this personal hands-on approach and attention to detail is key as we manage our assets and improve their attractiveness to occupiers.

This approach has really started to show results since we internalised the investment management function in 2012.