We move into 2009 with a commitment to develop but currently only on a pre-let basis.

Last year we announced a new joint venture with Chase Commercial to develop 4 acres of land close to J9 M5 at Ashchurch. We already have planning consent for 70,000 sq ft of offices and a consent for 71,818 sq ft of distribution space. The site is close to Ashchurch mainline station.

In 2008 we developed 2 units at Hollymoor Point Rubery, Birmingham. These are 2 industrial/warehouse units of 28,111 sq ft and 40,584 sq ft. The smaller unit has now been sold to Spanish Tile Company Grespania. We have land available for 55,000 sq ft and a 90,000 sq ft building. All buildings are offered for sale or to let.

We have now completed construction of Wayside 3 a 26,846 sq ft warehouse at Wayside Business Park at J3, M6 to the north of Coventry. This will only be available to let as we are retaining the business park as an investment.

Also in Coventry we are proposing to build offices of 15,600 sq ft at Crosspoint Business Park at J2, M6. This will be available to let or for sale.

At kettering Venture Park, which is adjacent to J9, A14 we have finished construction of the first phase six B1 offices ranging from 2,024 sq ft to 5,264 sq ft. 3 units remain available to let or for sale.

In 2007 we concluded our joint venture at Area 7 with Alfred McAlpine Special Projects having sold the remaining land upon grant of planning consent for waste transfer facility.

Our B1 office developments with Business Homes are continually being rolled out. We completed development of 12 B1 office units at Birmingham Business Park in 2008. The majority of these units were sold or let prior to Practical Completion and only one remains available as an investment.

Our next Scheme will be at Abbey Court Evesham on the Vale Business Park.

We have a good track record of Mixed Use development. In Birmingham 2003 we developed Innovation Square in the professional quarter of Birmingham. The scheme incorporates 33240 sq ft of Grade A air conditioned offices; two office buildings of 3,000 sq ft and 5,000 sq ft together with shops, bars and apartments.

We are currently expanding our development pipeline for office and industrial and distribution schemes. We are constantly looking for new opportunities in our region.