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As an agile business, we review our strategic objectives annually.
Our strategy is focused on activity that will enhance EPRA NTA value and support further reductions in net debt and gearing. The strategic pillars which sit underneath articulate how we will achieve this and lay the foundations for sustainable growth.
This year, we have added a fifth strategic pillar around our Environmental, Social and Governance (ESG) commitments. We believe that ESG should not be a stand-alone division, operating in silo to the rest of the business, but a key consideration in all business decisions. Including ESG as one of our pillars clearly states our commitment to achieving this
Our strategic pillars
Building a valuable and robust land portfolio which will provide short, medium and long-term opportunities is key to the Group’s success, enabling a balanced return from our various revenue streams. Short and medium-term returns are achieved by the sale of plots with planning consent or the sale of whole consented sites, partnership housing contracts with housing associations, local authorities and Build to Rent (BtR) investors and our private housebuilding activity. Longer-term returns are delivered from the Group’s strategic land bank, where plots are usually controlled by way of a discount to market value option.
We will continue to make the decision to sell, build or partner with others based on an assessment of which activity will deliver the highest returns and the Group’s cash requirements.
Demand from housing associations and BtR operators, for projects where we can provide the land and build out the projects, continues to grow.
We will continue to target our private housebuilding activity to the firsttime buyer market, building highquality, affordably priced homes.