In all of our development considerations, whether it is a new opportunity or an asset management decision, we rigorously analyse to assess the inherent risks and the potential value enhancements. The primary risks fall into three categories:

• Planning:  Our expert knowledge lies in navigating the complex planning process and is key to our ability to unlock inherent land values. With the advice of some of the industry's foremost planning experts, and a strong consultative approach, we identify strategies to deliver consents that realise the potential of the most complex development sites.

• Financial:  The capital and occupational markets are the ultimate driver of development and we pride ourselves in our forensic approach to understanding the risks of each. Our strong professional relationships allow us access to quality market data with which we can assess opportunities. Whether we are developing on a proprietary basis or as a project manager for a client, our approach remains the same: to interrogate comparable data and market trends to inform the process beyond the anecdotal and unpredictable nature of sentiment.

• Construction:  Notwithstanding the strong construction heritage of Kajima, we no longer act as a contractor in the UK market and instead look to appoint a third party main contractor to execute delivery. However we are able to leverage Kajima's 160 year construction experience to add value to the main contractor selection process. We recognise that quality, value for money, robust financial management and security is the critical blend for successful project delivery.