Our five strategic pillars to deliver our purpose are as follows:
Development
Driving the capital growth of our portfolio through new strategic property acquisitions, delivery of planning permissions, site remediation and infrastructure, before crystallising land sales
Where are we
7.2% p.a. EPRA NNNAV per share growth and total return of 7.8% in 2019
Where we want to be
To achieve a long-term market-leading return
Key Business Risks
Key Performance Indicators
- Total return
- EPRA NNNAV per share growth
- Value gains
- Sustainability & placemaking credentials
Investment*
Ensuring sustainable income generation through new income acquisitions, asset management of existing rental sites, direct development of new space and recycling of portfolio into higher value adding opportunities
Where are we
We are covering our overheads and interest costs and have been increasing the resilience of our income streams
Where we want to be
To cover our overheads, financing costs and taxation from operating activities with resilient income
Key Business Risks
Key Performance Indicators
- Profit excluding value gains
- Future pipeline of employment space
- Sustainability & placemaking credentials
Regions
Leveraging our strong relationships in our core areas in the North of England and Midlands to expand our land and property portfolio
Where are we
Our portfolio remains focused on the North of England with a growing emphasis on the Midlands and the North West
Where we want to be
To expand our portfolio to the North West and Midlands to have similar weighting to our Yorkshire and Central heartland
Key Business Risks
Key Performance Indicators
- Potential GVA that could be delivered from portfolio
Sectors
Concentrating on those property markets with strong, through-the-cycle returns
(currently residential, and industrial and logistics)
Where are we
Our current focus is on the “beds and sheds” sectors which have strong fundamentals in the regions we operate in
Where we want to be
We remain committed to delivering engineered land for the beds and sheds sectors, with a particular focus on increasing the range of residential tenures on our sites and supporting key regional industries such as manufacturing
Key Business Risks
Key Performance Indicators
- Residential plots & employment space delivered
- Planning permissions submitted & approved
Underpinned by a prudent financial approach
Expanding our use of alternative capital sources whilst maintaining our low balance sheet gearing to support the business and enhance returns.
Where are we
Net debt of £70.9m and a net loan to portfolio value of 12.1%
Where we want to be
To continue to target a loan to portfolio value ratio of between 10% and 15%
Key Business Risks
Key Performance Indicators
- Net debt
- Net loan to portfolio value