Introduction

"With £500 million of development and refurbishment under way by the
close of 2006, we cannot afford to neglect the impact that our construction
activity has on the environment and surrounding communities. Indeed,
considering sustainability issues from concept design can reduce the overall
environmental footprint of a building and enhance community value – even
before it is fully operational. For this reason, we take an increasingly
proactive approach to sustainability considerations."
Bob Radley, Director of Property Development

In 2006, we celebrated the completion of the 550,000 sq ft Northern Extension of Manchester Arndale. The extension at Arndale, where Bovis Lend Lease were our contractors, integrated sustainability as a fundamental part of the project’s vision, and in doing so pioneered a number of leading construction practices. Work also continued on other developments, including the redevelopment of Finsbury Circus, London which is due for completion in 2008.

2006 also saw the birth of a new joint venture partnership with The Berkeley Group plc - St Edward Homes Limited. The new company will combine both PRUPIM’s development experience in the commercial sector and The Berkeley Group’s strength in regeneration, to become a developer of major residential and mixed-use schemes across the UK.

The joint venture’s initial focus on three major residential schemes in the South East already promises to incorporate far-reaching sustainability commitments, as illustrated in the case study on GreenPark Village.

In addition to some of the excellent achievements at individual development projects, we recognise the need for an overarching Responsible Development Strategy (formerly known as the Responsible Construction Strategy) so as to achieve consistent standards across all development phases.

Although we intended to launch the Responsible Development Strategy in 2006, it has unfortunately incurred unforeseen delays due to more extensive consultation than previously planned and will now be completed during the summer of 2007. The Strategy will ensure that project managers are clear about the standards which we aspire to, and critically, it will also assist in the measurement, monitoring and benchmarking of our environmental performance across all future projects.