【出版时间及名称】：2010年2月英国房地产行业研究报告
        【作者】：德意志银行
        【文件格式】：PDF
        【页数】：52
        【目录或简介】：
Table of Contents
Investment thesis .............................................................................. 3
Outlook ....................................................................................................................................3
Valuation ..................................................................................................................................3
Risks ........................................................................................................................................3
UK Mid Cap REITs overview............................................................. 4
Long term relative outperformers.............................................................................................4
Recommendations and top picks..............................................................................................6
Derwent London................................................................................ 8
NAV forecasts ...........................................................................................................................9
Income statement...................................................................................................................10
Balance sheet..........................................................................................................................11
Current/recently completed developments.............................................................................13
Potential developments ..........................................................................................................13
Main investments ...................................................................................................................15
Joint ventures/investments.....................................................................................................17
Great Portland Estates .................................................................... 18
NAV forecasts .........................................................................................................................19
Income statement...................................................................................................................20
Balance sheet..........................................................................................................................21
Recently completed developments ........................................................................................23
Potential developments ..........................................................................................................23
Main investments ...................................................................................................................26
Joint ventures .........................................................................................................................26
Shaftesbury Plc................................................................................ 30
NAV forecasts .........................................................................................................................31
Income statement...................................................................................................................32
Balance sheet..........................................................................................................................33
Property portfolio ....................................................................................................................34
Big Yellow Group PLC..................................................................... 38
Business analysis ....................................................................................................................39
NAV forecasts .........................................................................................................................40
Our valuation approach ...........................................................................................................41
Income statement...................................................................................................................41
Balance sheet..........................................................................................................................43
Development pipeline .............................................................................................................45
Joint ventures/management & franchise agreements ............................................................45