DOCSLIB.ORG

Derwent London Plc 1

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Derwent London Plc 1 REPORT & ACCOUNTS 2014 DERWENT LONDON PLC 1. OVERVIEW What we do and key achievements 4 Our portfolio 6 Financial highlights 10 Chairman’s statement 12 2. STRATEGIC REPORT Our business model and strategy 18 Risk management 22 Measuring our performance 28 Property review Our market 33 The changing face of London 36 Valuation 40 Portfolio management 43 Projects 47 Creating value across the portfolio 52 Investment activity 60 Finance review 62 Sustainability 70 Our people 73 3. GOVERNANCE Board of Directors 78 Senior management 80 Statement of Directors’ responsibilities 81 Chairman’s letter on corporate governance 82 Directors’ report 83 Letter from the Chairman of the Remuneration Committee 92 Report of the Remuneration Committee 93 Letter from the Chairman of the Nominations Committee 111 Report of the Nominations Committee 111 Letter from the Chairman of the Risk Committee 112 Report of the Risk Committee 112 Letter from the Chairman of the Audit Committee 113 Report of the Audit Committee 114 Independent Auditor’s report 116 4. FINANCIAL STATEMENTS Group income statement 124 Group statement of comprehensive income 124 Balance sheets 125 Statements of changes in equity 126 Cash flow statements 127 Notes to the financial statements 128 Five-year summary 169 Principal properties 170 List of definitions 172 Front cover image: Turnmill EC1 Derwent London plc is the largest real estate investment trust (REIT) specialising in central London offices. We own and manage a portfolio of 5.7 million square feet located in 17 ‘villages’ in London’s West End and City borders and focus on middle market rents. Experience and local knowledge has enabled us to identify many of London’s emerging locations such as those around the Crossrail hubs and in the Tech Belt. We typically acquire properties off-market at relatively low capital values with short income streams and work out the optimum strategy for each by understanding and anticipating the needs of occupiers and the wider community. We have a substantial pipeline of design-led schemes, adding value by refurbishment, redevelopment or active asset management and balancing these activities with a robust income stream, a focus on interest cover, modest leverage and flexible financing. When we believe we can find better growth elsewhere, we recycle capital by disposing of properties and invest in new stock for the future to add to our pipeline. ANTICIPATING TRENDS DELIVERING DESIGN EXCELLENCE AND VALUE PRODUCING ABOVE AVERAGE RETURNS Derwent London plc Report & Accounts 2014 1 1-2 Stephen Street W1 1 OVERVIEW WHAT WE DO AND KEY ACHIEVEMENTS 4 OUR PORTFOLIO 6 FINANCIAL HIGHLIGHTS 10 CHAIRMAN’S STATEMENT 12 3 WHAT WE DO AND KEY ACHIEVEMENTS Our principal objective is to deliver above average long-term returns for our shareholders through owning, creating and managing well-designed central London offices benefiting occupiers and neighbourhoods. OUR BUSINESS MODEL 1 2 3 4 5 1 2 ACQUIRE PROPERTIES C R E AT E W E L L- Page 18 AND UNLOCK THEIR DESIGNED SPACE VALUE We purchase buildings in central London Each property has a business plan, which can be improved, enlarged or where we seek to maximise returns 28.4% regenerated. These purchases will through design-led planning gain, increase in EPRA net asset typically be off relatively low rents effective development and construction value per share and capital values per sq ft. delivery to provide flexible, resilient and sustainable space attractive to occupiers, Page 62 investors and the local community. In March we acquired 19-23 In 2014 we completed 106,550 sq ft Featherstone Street EC1, adjoining our of major projects, currently 75% let 30.1% Monmouth House EC1 and potentially or sold, including our first standalone total return unlocking a site for 125,000 sq ft (uplift residential scheme of 81% by area) opposite our White Page 62 Started construction of White Collar Collar Factory EC1 development site Factory EC1 (293,000 sq ft of In November we purchased Angel mixed-use space) adopting our Square EC1 (128,700 sq ft offices research into the space demands of in three adjoining properties), the creative industries and, as a result, opposite our Angel Building EC1, providing innovative office space with with reversionary and longer term potential for lower carbon emissions enlargement and regeneration potential Planning secured on 25-33 Berners Street W1 and 25 Savile Row W1 (together 163,000 sq ft) £90.9m 485,000 sq ft acquisition of two properties of development ready both adding to existing Tech to start in 2015 Belt clusters Page 60 Page 47 A B A Angel Square EC1 B White Collar Factory EC1 C 1-2 Stephen Street W1 D Jaeger House W1 E Horseferry House SW1 4 Overview “ Our long-term strategy of investing in innovative design-led projects in London’s emerging villages appeals to occupiers and investors, as the definition of London’s core office locations continues to evolve.” ROBERT RAYNE CHAIRMAN 3 4 5 OPTIMISE INCOME RECYCLE CAPITAL MAINTAIN STRONG AND FLEXIBLE FINANCING We seek to work with our occupiers Sell properties where business Each property is considered in the through active management which can plans have been completed, market context of the Group as a whole, as include letting, restructuring leases, or conditions are favourable, or which well as having its own business plan. taking back space. Our aim is to secure no longer fit the Group’s strategy. Our financing approach provides a robust a sound recurring and growing income and flexible financial base consistent with base which services our overheads, our active asset management model. This interest costs and dividend and provides gives us the ability to cover our financial the platform for our regeneration activity. commitments with headroom to spare while maintaining the flexibility to cope with a changing economic environment. In July we pre-let 28,350 sq ft In April sold Jaeger House W1 In December extended maturity of to Freud Communications for £30.3m prior to development £550m bank facility to January 2020 2014 lettings secured £9.2m p.a. In H2 sold four smaller properties LTV ratio reduced to 24% at of rental income 11.2% above for a total of £67.7m 31 December 2014 December 2013 ERV Conversion of £175m of bonds into new equity in January 2015 reduces debt and further lowers gearing ratios 4.5 % sold £98.0m 286 % increase in contracted net of commercial property at an net interest cover ratio rental income to £131.7m p.a. average value of £675 per sq ft: 40% above Dec 2013 values Page 43 Page 60 Page 66 C D E Derwent London plc Report & Accounts 2014 5 OUR PORTFOLIO Our portfolio comprises 5.7 million sq ft (534,000m2) of properties valued at £4.2 billion. 98% of our properties are ISLINGTON located in central London, grouped in 17 ‘villages’, each with its own culture CAMDEN and identity. 70% can be found in the Kings Cross West End and 28% in the City borders. The balance relates to properties held EUSTON in Scotland on the northern outskirts OLD of Glasgow. STREET SHOREDITCH CLERKENWELL FITZROVIA LADBROKE GROVE Whitechapel BAKER STREET/ Farringdon Liverpool Street MARYLEBONE NORTH OF OXFORD STREET Tottenham Paddington Court Road PADDINGTON HOLBORN WHITECHAPEL SOHO/ Bond Street COVENT GARDEN MAYFAIR 105 c.500 33% SOUTHBANK Buildings Tenants Portfolio weighting in Tech Belt £4.2bn £131.7m £215.6m Valuation of Net contracted Estimated Victoria the portfolio rental income rental value VICTORIA 6 Overview ISLINGTON CAMDEN Kings Cross EUSTON OLD STREET SHOREDITCH CLERKENWELL FITZROVIA LADBROKE GROVE Whitechapel BAKER STREET/ Farringdon Liverpool Street MARYLEBONE NORTH OF OXFORD STREET Tottenham Paddington Court Road PADDINGTON HOLBORN WHITECHAPEL SOHO/ Bond Street COVENT GARDEN MAYFAIR OUR VILLAGES PORTFOLIO WEIGHTING Fitzrovia1 37% West End 70% Victoria 12% City borders 28% SOUTHBANK Baker Street/Marylebone 4% Provincial 2% Soho/Covent Garden 3% Mayfair 2% Paddington 2% West End other 1% Islington/Camden 9% Victoria Clerkenwell 9% lt VICTORIA e B h Old Street 6% c e T Shoreditch/Whitechapel 5% Holborn 4% Holborn (non Tech Belt) 3% Southbank 1% Provincial 2% 1 Includes North of Oxford Street and Euston Page 170 Derwent London plc Report & Accounts 2014 7 ISLINGTON CAMDEN Kings Cross EUSTON OLD STREET SHOREDITCH CLERKENWELL FITZROVIA LADBROKE GROVE Whitechapel BAKER STREET/ Farringdon Liverpool Street MARYLEBONE NORTH OF OXFORD ISLINGTON STREET Tottenham Paddington Court Road PADDINGTON HOLBORN WHITECHAPEL CAMDEN SOHO/ Bond Street COVENT GARDEN Kings Cross MAYFAIR EUSTON OLD STREET SHOREDITCH CLERKENWELL FITZROVIA SOUTHBANK LADBROKE GROVE TEN PRINCIPAL Whitechapel Farringdon Liverpool Street BAKER STREET/ TENANTS MARYLEBONE NORTH OF % OF RENTAL INCOME1 OXFORD STREET Tottenham Burberry 6.5 Paddington Court Road Government 5.7 PADDINGTON Victoria HOLBORN WHITECHAPEL VICTORIA Arup 5.1 SOHO/ Cancer Research UK 3.8 VILLAGES Bond Street COVENT GARDEN Thomson Reuters 3.3 TECH BELT Publicis Groupe 3.1 DERWENT FremantleMedia Group 2.4 LONDON MAYFAIR MWB Business Exchange 2.3 PROPERTIES EDF Energy 1.9 CROSSRAIL House of Fraser 1.8 1 Based upon contracted net rental income of £131.7m SOUTHBANK 8 Victoria VICTORIA Central London office rent profile Build-up of reversion rental uplift £ per sq ft £m 50 100 40 80 83.9 23.5 41.77 30 34.55 60 17.6 3.7 27.26 20 40 7.1 7.8 10 20 24.2 0 Average Average Average 0 current ‘topped-up’ ERV rent rent Total Lease Vacant Pre-let growth Vacant On-site projects projects reversion (Available) reversions Contractual (Under refurb) Office rent banding
Load more

Recommended publications
  • The Crown Estate Annual Report and Accounts 2010
    SUSTAINABILITY SHAPES OUR FUTURE Annual Report 2010 Page 1 The Crown Estate Annual Report 2010 Overview 2 Understanding The Crown Estate Sustainability lies at the heart of 4 Chairman’s statement The Crown Estate. Although Parliament 6 Chief executive’s overview 8 Progress on our ‘Going for Gold’ targets decrees that we operate as a commercial Performance organisation, we combine the commercial 10 Urban estate 16 Marine estate imperative with an equally firm 22 Rural estate 28 Windsor estate commitment to integrity and stewardship. 32 Financial review 40 Sustainability Our commitment to stewardship reflects Governance 52 The Board our ability to take the long-term view, 54 Governance report pursuing good environmental practice. 65 Remuneration report Financials In addition to our principal financial 67 The Certificate and Report of the duty we manage the assets in our care Comptroller and Auditor General to the Houses of Parliament for the sustainable, long-term benefit 68 Statement of income and expenditure 68 Statement of comprehensive income of our tenants and other customers; 69 Balance sheet their businesses; the communities they 70 Cash flow statement 71 Statement of changes in represent; and for the environment. capital and reserves 72 Notes to the financial statements 90 Ten-year record (unaudited) Available online % www.thecrownestate.co.uk/annual_report Other publications available 5 Scotland Report 2010 Wales Financial Highlights 2010 Northern Ireland Financial Highlights 2010 Page 2 The Crown Estate Annual Report 2010 Commercialism.
    [Show full text]
  • Annual Report and Accounts 2015 Inside This Year’S Integrated Annual Report and Accounts 2015
    2015 Annual ReportAnnual Accounts and The Crown Estate Annual Report and Accounts 2015 Inside this year’s integrated Annual Report and Accounts 2015 Overview Building an integrated The Crown Estate is an Highlights of our performance 03 approach independent commercial Chairman’s statement 04 Chief Executive’s review 06 Three years ago we began to work towards a business, created by Act new vision, which would integrate sustainability Our business at a glance 10 across our business. In order to communicate of Parliament. this we produced our first integrated report Our role is to make sure that the land and What we’ve been doing and set out a three-year plan to improve our property we invest in and manage are Review of activities 12 approach. sustainably worked, developed and enjoyed to deliver the best value over the long term. At the In the first year we outlined our business heart of how we work is an astute, considered, Our markets model and identified the material issues that collaborative approach that helps us create Our markets 34 impact our performance. In the second year success for our business and for those we looked more deeply at our markets and we work with. How we create value improved our understanding of the resources and relationships that sustain our business Business model 38 Our vision is to be a progressive commercial and contribute to our success. In this, our business creating significant value beyond Resources and relationships 40 third integrated report, we have focused on financial return. We will work with partners What is Total Contribution? 42 developing robust measurement indicators and stakeholders to grow our business, Strategic objectives 44 and exploring the broader impact of what we outperforming the market whilst delivering do and how we can inspire change.
    [Show full text]
  • Property Useful Links
    PROPERTY - USEFUL LINKS Property - Useful Links 1300 Home Loan 1810 Malvern Road 1Casa 1st Action 1st Choice Property 1st Property Lawyers 247 Property Letting 27 Little Collins 47 Park Street 5rise 7th Heaven Properties A Place In The Sun A Plus New Homes a2dominion AACS Abacus Abbotsley Country Homes AboutProperty ABSA Access Plastics AccessIQ Accor Accord Mortgages Achieve Adair Paxton LLP Adams & Remrs Adept PROPERTY - USEFUL LINKS ADIT Brasil ADIT Nordeste Adriatic Luxury Hotels Advanced Solutions International (ASI) Affinity Sutton Affordable Millionaire Agence 107 Promenade Agency Express Ajay Ajuha Alcazaba Hills Resort Alexander Hall Alitex All Over GEO Allan Jack + Cottier Allied Pickfords Allied Surveyors AlmaVerde Amazing Retreats American Property Agent Amsprop Andalucia Country Houses Andermatt Swiss Alps Andrew and Ashwell Anglo Pacific World Movers Aphrodite Hills Apmasphere Apparent Properties Ltd Appledore Developments Ltd Archant Life Archant Life France PROPERTY - USEFUL LINKS Architectural Association School Of Architecture AREC Aristo Developers ARUP asbec Askon Estates UK Limited Aspasia Aspect International Aspinall Group Asprey Homes Asset Agents Asset Property Brokers Assetz Assoc of Home Information Pack Providers (AHIPP) Association of Residential Letting Agents (ARLA) Assoufid Aston Lloyd Astute ATHOC Atisreal Atlas International Atum Cove Australand Australian Dream Homes Awesome Villas AXA Azure Investment Property Baan Mandala Villas And Condominiums Badge Balcony Systems PROPERTY - USEFUL LINKS Ballymore
    [Show full text]
  • Final Prospectus Intro(A)
    THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt as to what action you should take, you are recommended to seek your own financial advice from your stockbroker, bank LR13.3.1(4) manager, solicitor, accountant or other appropriate independent financial adviser duly authorised under the Financial Services and Markets Act 2000 (as amended) (“FSMA”) if you are resident in the United Kingdom or, if not, another appropriately authorised independent financial adviser. If you sell or have sold or otherwise transferred all of your Existing Ordinary Shares prior to the date the shares are traded “ex” LR13.3.1(6) the entitlement to the Open Offer, you should send this document, and if relevant, the accompanying Application Form and the enclosed Form of Proxy (and reply-paid envelope) at once to the purchaser or transferee or to the bank, stockbroker or other agent through whom the sale or transfer was effected for delivery to the purchaser or transferee. If you have sold or transferred any part of your registered holding of Existing Ordinary Shares, please contact your stockbroker, bank or other agent through whom the sale or transfer was effected immediately and refer to the instructions regarding split applications set out in the Application Form, if relevant. However, no Application Form should be forwarded to or transmitted in or into the United States or any Excluded Territories where doing so may constitute a violation of local securities laws. Please refer to paragraph 7 of Part 2 of this document if you propose to send this document and/or the Application Form outside the United Kingdom.
    [Show full text]
  • Local Allocations Masterplans Consultation Report Part 1
    Local Allocations Masterplans Consultation Report Part 1 November 2015 Consultation Report This Consultation Report outlines the steps taken in preparing the masterplans for the Local Allocations designated in the Site Allocations Development Plan Document. It covers the nature of the consultations carried out, the means of publicity employed, the main issues arising and how these influenced the final documents. Obtaining this information in other formats: If you would like this information in any other language, please contact us. If you would like this information in another format, such as large print or audiotape, please contact us at [email protected] or 01442 228660. CONTENTS PART 1: Page No. 1. Introduction 1 2. The Council’s Approach 3 3. Notification and Publicity 5 4. Results 7 5. Summary of the Main Issues 8 6. Changes Proposed 20 ANNEX A: METHOD OF NOTIFICATION 22 Appendices: Appendix 1: Advertisements and Press Articles 23 Appendix 2: Dacorum Digest articles 31 Appendix 3: Example of Display Material for Exhibitions 34 Appendix 4: Organisations and Individuals Contacted 40 Appendix 5: Sample Notification Letters 53 Appendix 6: Cabinet Report (July 2014) 58 Appendix 7: Minutes of Key Meetings 73 Appendix 8: Cabinet Report (October 2015) 81 PART 2: RESULTS (see separate document) Table 1 – List of Groups / Individuals from whom Representations 4 were received Table 2 – Breakdown of comments received 18 Table 3 - Main Issues raised and Council’s Response 19 1 INTRODUCTION 1.1 The Core Strategy for Dacorum Borough was found sound in 2013 and formally adopted on 25 September 2013. The Site Allocations Development Plan Document (DPD) is the second part of the new emerging Local Plan and forms part of the Local Planning Framework (LPF) for Dacorum.
    [Show full text]
  • 14 March 2019 Savills Plc ('Savills' Or 'The Group') PRELIMINARY RESULTS for the FULL YEAR ENDED 31 DECEMBER 2018 Savi
    14 March 2019 Savills plc (‘Savills’ or ‘the Group’) PRELIMINARY RESULTS FOR THE FULL YEAR ENDED 31 DECEMBER 2018 Savills plc, the international real estate advisor, today announces growth in both revenue and underlying profits in 2018. Key financial highlights – Group revenue up 10% to £1.76bn (2017: £1.6bn) – Underlying profit* up 2% to £143.7m (2017: £140.5m) – Statutory profit before tax decreased 3% to £109.4m (2017: £112.4m) – Underlying basic earnings per share (‘EPS’) grew 3% to 77.8p (2017: 75.8p) – Statutory basic EPS decreased 4% to 56.2p (2017: 58.8p) – Final ordinary and supplementary interim dividends total 26.4p per share (2017: 25.55p) taking the total dividend for the year up 3% to 31.2p per share (2017: 30.2p) * Underlying profit before tax (‘underlying profit’) is calculated on a consistently reported basis in accordance with Note 4 to this Preliminary Statement. Key operating highlights The diversity of the Group, both geographically and in our service offering, and the integration of recent acquisitions delivered growth in both revenue and underlying profits in 2018. • Transaction Advisory revenues up 9%. Further growth from our less-transactional services with Property and Facilities Management revenue up 14% and Consultancy revenue up 8%. • Strong growth from Europe & the Middle East, both organic and through the integration of Aguirre Newman in Spain and the acquisition of Cluttons Middle East in May 2018. • North America delivered significant growth in the occupier-focused business with revenue up 18% and underlying profit up 64%. • Savills Investment Management successfully mitigated the expected significant decline in activity relating to disposals from liquidating the SEB Open-Ended Funds, raising £2.4bn in new funds, with AUM up 12% to £16.4bn.
    [Show full text]
  • CN-Contract-Leads-140512.Pdf
    Contract Leads Powered by EARLY PLANNINGProjects in planning up to detailed plans submitted. PLANS APPROVEDProjects where the detailed plans have been approved but are still at pre-tender stage. TENDERSProjects that are at the tender stage CONTRACTSApproved projects at main contract awarded stage. STRATFORD-ON-AVON £1.5M First Floor Square One, 4 Travis Street, NEWMARKET £0.8M Road West Yorkshire, LS8 4BA Tel: 0113 240 0012 Investments (North) Ltd Agent: W A HALIFAX £2M Landadjacentto,BishoptonLane Manchester, M1 2NY Tel: 0845 711 4141 RockfieldHouse,BuryRoad Planning authority: Huntingdon Job: Detail DONCASTER £1.6M Fairhurst & Partners, 51a St Pauls Street, CentralJamiaMosqueMadni&E,131 MIDLANDS/ Bishopton KING’SLYNN £0.3M Planning authority: Forest Heath Job: Plans Granted for school (extension) Client: ThorneCoronationClub,KingEdward Leeds, West Yorkshire, LS1 2TE Tel: 0113 243 GibbetStreet Planning authority: Stratford-On-Avon Job: WoottonRoad Detail Plans Granted for beauty spa Hinchingbrooke School Agent: PCM Services RoadThorne 4671 Planning authority: Calderdale Job: Detail EAST ANGLIA Approval Of Reserved Matters for railway Planning authority: Kings Lynn & West (conversion) Client: Bedford Lodge Hotel Ltd, Farthings, 49 First Avenue, Chelmsford, Planning authority: Doncaster Job: Outline Plans Granted for mosque (refurb) Client: station Client: Warwickshire County Council Norfolk Job: Detail Plans Granted for bridge Agent: A Squared Architects Ltd, 93 - 95 Essex, CM1 1RX Contractor: C.D. Hood Ltd, Plans Submitted for 15 houses
    [Show full text]
  • Statement of Consultation Before Local Plan Publication
    Planning and Compulsory Purchase Act 2004 The Town and Country Planning (Local Planning) (England) Regulations 2012 Regulation 17 and 18 Statement of consultation before Local Plan publication Title of publication local plan: Mid Devon Local Plan Review (2013-2033) Proposed Submission (incorporating proposed modifications) (January 2017) Consultation before Local Plan Review Proposed Submission (incorporating proposed modifications) publication: - Mid Devon Local Plan Review Proposed Submission (February 2015) - Mid Devon Local Plan Review Options Consultation (January 2014) - Mid Devon Local Plan Review Scoping Report (July 2013). (i) Which bodies and persons were invited to make representations under regulation 18 The Local Plan Review Scoping Report was published for comment on 8 July 2013 for a six week period, closing on 19 August 2013. Every person and organisation that appeared on the Mid Devon Local Development Framework database, as of 7 July 2013, was informed of the opportunity to comment on the Local Plan Review Scoping Report. A total of 70 individuals and organisations commented on the Local Plan Review Scoping Report. The Local Plan Review Options Consultation document was published for comment on 24 January 2014 for an eight week period, closing on 24 March 2014. Every person and organisation that appeared on the Mid Devon Local Development Framework database, as of 23 January 2014, was informed of the opportunity to comment on the Local Plan Review Options consultation. In addition the general public were invited to make representations. A total of 1201 individuals and organisations commented on the Local Plan Review Options Consultation document. A full list of bodies and persons invited to make representations under regulation 18 can be found in Appendix 1.
    [Show full text]
  • List of Consultees
    LOCAL AUTHORITY SHMA CONSULTATION RESPONSE FORM - OCTOBER 2009 Section 10 - SHMA Consultee Full List Consultee_Title Consultee_Firstname Consultee_Surname Consultee_Organisation No. Mr Jack Ellerby Friends of the Lake District 1 Ms Luch Wilson Western Lake District Tourism Partnership 1 Mrs Ian Stephens Cumbria Tourism 1 Mr Pears 1 Mr Bryan Johnson Ambleside Civic Trust 1 Mr Nick Raymond Cumbria County Council 1 Mr Frank Blenkharn Capita Symonds 1 Ms Jill Perry Friends of the Earth 1 Mr Eric Telford Telford Planning Associates 1 Ms Margaret Bushnell Carigiet Cowen 1 Mr Duncan Armstrong-Payne Fuller Peiser (for ABP) 1 Carlisle Business Forum (Services) Ltd 1 Mr Richard Percy Steven Abbott Associates 1 Mr Kimber Friends of Eden,Lakeland and Lunesdale Scenery 1 Mr Alan Hubbard The National Trust 1 Ms Sue Hannah Cockermouth Partnership 1 Mr Bob Taylor Taylor and Hardy Ltd 1 Cumberland Building Society Ltd 1 Mr Richard Newman Cumbria County Council 1 Mr Peill Peill and Co Property Consultants 1 Mr Brian Barden Barden Planning Consultants 1 Ms Bowyer DPDS Consulting Group 1 Mr Ross St. Martins College 1 Mr Winter PFK Planning 1 Mr Mitchell Mitchell Estates 1 Turley Associates 1 Mr Jeremy Williams Development Planning Partnership 1 Mr John Ambleside Tenants and Residents Association 1 Mr Ian Storey Story Homes 1 Major Plunkett Windermere and Bowness Civic Society 1 Mr Martyn Nicholson Russell Armer Ltd 1 Mr Nicholson Tarmac Ltd 1 Mr Christopher Sparrow Boughton Estates Ltd 1 Mr David Coates Coates Associates 1 Mr Steve Parker Accent North West
    [Show full text]
  • Site Allocations Report of Representations Part 1
    Site Allocations Report of Representations Part 1 Contains: • Main Report • Annex A: Method of Notification July 2015 This publication is Part 1 of the Report of Representations for the Pre- Submission Site Allocations. It contains a summary of the consultation process and discusses the main issues raised. Part 2 comprises Annex B of the Report of Representations: it contains the results of the consultation on the Pre-Submission Site Allocations. Obtaining this information in other formats: • If you would like this information in any other language, please contact us. • If you would like this information in another format, such as large print or audiotape, please contact us at [email protected] or 01442 228660. CONTENTS Page No. PART 1 1. Introduction 1 2. The Council’s Approach 5 3. Notification and Publicity 7 4. Results 9 5. Summary of the Main Issues 11 6. Sustainability Appraisal (incorporating Strategic Environmental Assessment) 44 7. Relationship with Local Allocation Master Plans 45 8. Subsequent Meetings and Technical Work 46 9. Changes Proposed 51 ANNEX A: METHOD OF NOTIFICATION Appendices: Appendix 1: Advertisements (including formal Notice) and press articles 57 Appendix 2: Dacorum Digest article 69 Appendix 3: Example of Display Material for Exhibitions 73 Appendix 4: Organisations and Individuals Contacted 85 Appendix 5: Sample Notification Letters 99 Appendix 6: Cabinet Report and full Council decision (June 2014) 107 Appendix 7: Minutes / Correspondence relating to Key Meetings 129 Appendix 8: Cabinet Report (July 2015) 152 PART 2 (see separate document) ANNEX B: RESULTS Table 1: List of Groups / Individuals from whom Representations were received Table 2: Number of Representations considered Table 3: Main Issues raised and Council’s Response Table 4: Schedule of Proposed Changes Table 5: Responses not considered in the Report of Representations (a) List of those making No Comment (b) List of those making comments on the Sustainability Appraisal and Strategic Environmental Assessment 1.
    [Show full text]
  • 2014 Kent Property Market
    2014 KENT PROPERTY MARKET THE ANNUAL GUIDE TO INVESTMENT & DEVELOPMENT IN KENT CONTENTS 1 Welcome 12 Retail performance 38 Main sponsor article 44 Strategic developments 2 Property market 14 Leisure and tourism performance Caxtons 47 Contact details 5 Economic outlook 16 Rural performance 40 Contributory sponsor’s articles 48 Acknowledgements 6 Business park performance 18 Residential performance - DHA Planning 8 Office performance 20 Inward investment - Cripps LLP 10 Industrial and distribution performance 22 Economic development - Lloyds Bank 37 Green infrastructure - RICS Artist’s impression: Conningbrook Lakes, Ashford Brett Group KENT PROPERTY MARKET 2014 WELCOME Welcome to the 23rd Edition of the Kent Property Market industrial rents have improved for the fifth year in a row and Chartered Surveyors, established in 1990, is one of the Report, produced by Kent County Council’s Economic are now outperforming those for the South East and UK. largest independent property practices in the South East Development Division, Caxtons and Locate in Kent. offering a full range of agency, management, professional and The report also looks in detail at Kent’s business parks, rural surveying services across all property sectors. The report reviews property deals and activity throughout property, residential sector performance, inward investment, 2013-14, major initiatives to support economic development tourism and the provision of green infrastructure. Kent County Council’s Economic Development Division is as well as showcasing regeneration projects
    [Show full text]
  • SW Herts SHMA and Economy Study Workshop Report
    Workshop Report SW Herts SHMA and Economy Study 14 September 2015 Contents Page 1. Introduction 1 2. Invitees 1 3. Attendees 2 4. Format of workshop 2 5. Feedback 3 6. Next steps 7 Appendices: Appendix 1 – Invitation letter (and attachments) 11 Appendix 2 – Schedule of invitees 16 Appendix 3 – Attendees 22 Appendix 4 – Confirmation email and attachments 25 Appendix 5 – Workshop Groups 28 Appendix 6 – Workshop questions 30 Appendix 7 – Workshop feedback 33 Appendix 8 – Responses from non-attendees 45 1. Introduction 1.1. In early 2015 Dacorum Borough Council, Hertsmere Borough Council, Three Rivers District Council and Watford Borough Council commissioned consultants GL Hearn (in conjunction with Justin Gardner Consulting) to carry out a Strategic Housing Market Assessment for the south west Hertfordshire area. An Economy Study for the same area was commissioned in parallel, from consultants Regeneris, in conjunction with GL Hearn. 1.2. Both studies have been carried out using the framework set out by Government in the Planning Practice Guidance (PPG) and in accordance with the National Planning Policy Framework (NPPF). 1.3. The PPG encourages the early co-operation and involvement with a range of local stakeholders when preparing housing and economic need assessments: (Paragraph: 007Reference ID: 2a-007-20150320) 1.4. In order to comply with this advice, and also to test market perceptions of the draft recommendations arising from both studies, a stakeholder workshop was held on 14 September 2015, at the South Hill Centre, Hemel Hempstead. The purpose of this workshop was: “To provide feedback and comment on the draft findings of the SW Herts Strategic Housing Market Assessment (SHMA) and Economy Study and discuss the inter-linkages between the number, type and distribution of future homes and jobs.” 1.4 Attendees were also made aware that the figures coming out of both studies for home and jobs needs do not necessarily equate to future Local Plan / Core Strategy targets and that the event was not an opportunity to promote individual sites.
    [Show full text]