41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 113
STRATEGIC REPORT
GOVERNANCE
FINANCIAL STATEMENTS
OTHER INFORMATION
STRATEGIC OBJECTIVE
ATTRACTIVE RETURNS
FOR SHAREHOLDERS
BOARD’S GOVERNANCE ROLE
Property/development
pipeline: Board scrutiny of
city and site selection for
new developments against
a backdrop of increasing
competition for the best sites.
LINK TO PRINCIPAL RISK
WHAT THE BOARD DID IN 2022 AND ITS DECISION MAKING
Property/
development risk
Board oversight of:
1. Delivery of our two new 2022 properties: 920-bed Hayloft
Point (London) and 431-bed Campbell House (Bristol), with
a combined total development cost of £235 million.
Read more on page 84
2. The £65 million refurbishment of three existing properties
in Manchester.
Governance of developments/
acquisitions to ensure they run
to budget and schedule and
are earnings accretive.
3. Our build-to-rent pilot, the acquisition of 180 Stratford,
a 178-unit purpose-built build-to-rent property in Stratford,
East London.
Read more about Development and partnership activity on pages 36–39
Disposals: Board governance
of our portfolio recycling as we
increase our exposure to the
UK’s best universities, while
generating capital to invest in
further development activity.
Dividend Policy: Board
governance role in framing of
our Dividend Policy.
Property/
development risk
Board oversight of the sale of 11 properties and £306 million
of assets to enhance our overall portfolio quality and fund
reinvestment into the improvement of our estate and entry
into the build-to-rent market.
Read more on page 84
Read more about Disposals on page 39
Financing risk
Read more on page 86
Board focus on dividend payments with a payout ratio
of 80% of adjusted EPS.
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