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At a glance

A snapshot of our business

Facts + figures*

£ 10.5bn

GDV of current development pipeline

£ (25.0)m

Development and trading losses

£ 120.6m

Investment portfolio

6m sq.ft.+

Shovel ready schemes

£ 15bn+

Socio-economic value in the next ten years

26

Local authorities we are active in

1,000+

Events and community activities held at our worthwhile sites

19,000

New homes in U+I’s pipeline

55,000+

New jobs will be created through U+I’s schemes

* as at 30.09.20

 

 

 

Our response to market trends

1

Urbanisation

Our response
We look for places that we can improve, many of them underloved or overlooked. Typically, these sites are too complex for REITs and too mixed in use for housebuilders, but they suit us perfectly. We believe developments can only work when people are prioritised, so we take the time to delve into the history and character of these sites and reflect these in our scheme. We often partner with the private or public sector – including TfL, MoD, local authorities and central/local government – to generate optimal returns from existing assets and unlock their potential. We are growing our golf course portfolio, and currently own over 500 acres of brownfield greenbelt land with the potential for over 2,500 homes. We have submitted planning for 1,125 homes to date.

2

War for talent

Our response

We understand the importance of creating amenity-rich, customised work spaces, that provide positive and productive experiences that support mental and physical wellbeing and promote employee satisfaction. Our schemes are designed with occupiers in mind.  They provide a flexible business solution giving companies – of any shape, size or purpose – an edge to attract and retain talent, and, in turn, increase their competitiveness.

3

Political and regulatory uncertainty

Our response

Our size and flexibility mean we can anticipate and respond quickly to change. Demand for housing and mixed-use regeneration ensures it remains an urgent priority for the Government, particularly post Covid-19.  We work closely with all political parties towards policies and a regulatory framework that will help communities to prosper and allow under-resourced local authorities to realise value from their unused assets. Dublin is benefitting from Brexit as Ireland continues to have the best GDP potential over the next five years (CBRE, 2019) and Manchester from increased government investment.

4

Wellbeing and sustainability

Our response

We listen to our stakeholders’ needs before we start a project. Our creative, collaborative approach means we can design agile places with end-users at their heart, supporting changing needs post Covid-19. All our schemes aim to deliver positive social impact, encouraging healthy living and working.  Typically, our buildings are created with locally procured, renewable materials and offer green space to encourage cycling and walking, as well as a range of leisure amenities. Demand for the best spaces will continue as flexibility, environmental sustainability and AI are expected to be requirements of space. 

5

Future proofing

Our response

We understand that real estate is more than a physical product; it is a flexible, customer centric service. That is why we have invested in cutting-edge innovations in property – such as WiredScore, Matterport and Plus X – to help inform our approach and allow us to be early adopters of new technologies to create next generation safe, sustainable buildings. Our close relationships with our partners allow us to challenge our designs and approach, share knowledge, understand trends and deliver responsible places that will meet current and future needs. 

How we measure our progress

£ 50m+

average development and trading gains target per annum

12%

average post tax total return target

10%

average investment portfolio total return target

40-50%

gearing on balance sheet target

90%+

Employee satisfaction with U+I as a place to work

Non-financial KPIs

100%

target for BREEAM Excellent/LEED Gold rating or above across all new developments

13%

year-on-year target for reduction in Scope 1 and 2 emissions compared to the FY2020 baseline; become net zero carbon by 2030

0.1%

lost time to accidents/incidents across U+I's sites

3

locally employed people across the project portfolio for every £1 million of project spend

How we create value

We secure land that is right for community focused regeneration and mixed-use development projects.

These are often underestimated and overlooked sites, full of heritage and potential, too complex for others.

We are good at securing sites:

  • Strong relationships lead to off-market deals
  • We have a proven track record of more than 25 years
  • We focus on regions where planning policy promotes regeneration

 

We unlock value in three ways

1

Regeneration/ development

Transforming sites into vibrant mixed-use communities

25% of gross assets

2

Trading

Improving land value, primarily through planning

35% of gross assets

3

Investment portfolio

Smart asset management where there is regeneration potential

40% of gross assets

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