Overview

The Howard Group has been developing commercial property for over 20 years and over this period has built up a proven record of growth and success in the commercial development arena. The company is well-managed, experienced and one that is financially robust.

A considerable proportion of the Group's current investment portfolio has, to a large extent, been developed by using Group resources and utilising its existing land bank. This portfolio includes shopping centres and retail parks, industrial estates, distribution warehouse units and office developments. Over many years, the company has periodically developed specific assets with a view to retaining these within the investment portfolio.

In 2006 the Group took a strategic decision to focus on property development as a core function. As a result, a designated property development arm - HPG Developments was formed and a Development Director appointed to help manage growth

HPG Developments has 3 distinct types of activities:

• In-house Developer: HPG Developments acts as the development partner for those properties and land assets held within The Howard Group's investment portfolio requiring redevelopment. Working as development partner with the property investment team to enhance existing assets, this arrangement ensures good quality developments resulting in solid rental income and investment portfolio growth.
  
  
• Investment Developer: HPG Developments acquires land from the open market and takes on the role of developer. Having developed out a site, HPG will then either trade this as a completed development or transfer the property into the Group investment portfolio for the longer term.
  
  
  
  
• Strategic Partner: HPG Developments establishes strategic or joint venture partnerships where development opportunities present themselves which are either too complex or large for the company to undertake on its own. Partners also include land owners who wish to participate in projects but lack the development skills or financial strength.
  
  
  

The HPG Developments Board comprises both Group Board directors as well as executive and non-executive property specialists. Its financial strength and development pipeline means that this part of the Howard Group is set to grow significantly and is increasingly representing a major percentage of the Group's overall business.

The knowledge, expertise and base of contacts within the property investment arena puts HPG in a strong position to be able to assess the long term development potential of many projects as well as make decisive acquisition decisions.