Target development and trading gains per annum
We deliver development and trading gains as we sell land and assets, where we have added value through improved planning, asset management or development. As such, development and trading gains are a key measure of the Group’s success. We target an average of £50m+ development and trading gains per annum.
Target total return
Total return, the growth in our basic net asset value (NAV) including dividends, is the most direct way of measuring returns to shareholders during the year. We target 12% average post tax total return.
Target investment portfolio total return
The investment portfolio total return comprises rental income and capital growth realised during the financial year across our investment assets. We target 10% average total return per annum.
Target gearing on balance sheet
The Group seeks to maintain a conservative level of gearing appropriate to the size of its Balance Sheet. At times, the Group’s gearing may increase as a result of an increased level of construction debt against specific assets. Maintaining the most efficient gearing range for the business means we can maintain a low-risk financial structure and protect shareholder value throughout the property and economic cycles. We target 40-50% gearing on balance sheet and 50-60% including our share of joint venture debt.
Target for employee satisfaction
Employees complete an annual survey rating their satisfaction with U+I as a place to work. We target over 90% satisfaction every year.
Target for BREEAM Excellent/LEED Gold rating or above
U+I measures its environmental impact across all its developments using the BREEAM and LEED assessments for sustainable design. We target a BREEAM Excellent/LEED Gold or above across all our new developments.
YoY target for Scope 1 and 2 emissions
U+I assesses the Scope 1 and 2 emissions intensity as tonnes of carbon dioxide equivalent (tCO2e) across its investment portfolio and office assets, covering all material sources of emissions. It targets a 13% year-on-year reduction in Scope 1 and 2 emissions compared to the FY2020 baseline. This includes a target of becoming net zero carbon by 2030.
Target for lost time to accidents/incidents
U+I works with certified external third parties to audit its sites, constantly checking for risks and ensuring the health and safety of all its stakeholders. It targets a maximum of 0.1% lost time to accidents or incidents across its sites.
Target for local employment
U+I measures the number of people employed through its contractors within twenty five miles of its project sites, and the spend across its development portfolio. It targets three locally employed people for every £1 million of project spend.