Strategic Partnerships

The use of partnerships is an integral part of our business and a key way in which we extend our capital base.

We partner with some of the best known property investors, including GIC, Norges Bank, USS and Aviva.

The strategic alliances we develop with our partners enable us to leverage our equity, achieve benefits of scale and spread risk. They enable us to access attractive investment opportunities alongside like-minded partners with complementary skills.

Around half our assets by value are in joint ventures or funds.

  • Our two largest single assets, Broadgate, our office campus in the City, and Meadowhall Shopping Centre are owned in 50:50 joint ventures.
  • We own a 100% stake in Hercules Unit Trust fund (“HUT”), which owns one of the largest retail park portfolios in the UK.

Our partnerships are based on developing deep and long-term relationships. In the majority of cases, we provide asset management, development, corporate and financial services and we earn performance and management fees. This enhances our overall returns, strengthens our relationships with key customers and suppliers and keeps us close to our markets.

Joint ventures