Osprey Charging, the UK’s leading rapid-charging network, has been chosen by one of Europe’s largest asset management companies – Legal & General – as the provider of electric vehicle (EV) charging infrastructure for its ReAssure Funds. Working closely with advisor Knight Frank, the two companies are bringing reliable, ultra-rapid charging
Spanish fashion giant Mango is accelerating its UK expansion with plans to open 20 new stores in 2025, further strengthening its presence in key locations across the country. The latest openings are part of the retailer’s ambitious 2024-26 growth strategy, which aims to increase Mango’s footprint and bring its total
Whitbread Plc, the parent company of Premier Inn, has secured the freehold of 35 Red Lion Square, WC1, with plans to transform the site into a hub by Premier Inn hotel. Situated at the junction of Theobalds Road, Drake Street, and Red Lion Square, the prominent eight-storey, 47,500 sq ft
The Building Research Establishment (BRE) is calling for urgent action to support homeowners in retrofitting 12 million homes across England that currently fall below adequate energy efficiency standards. With the government’s Warm Homes Plan set to be unveiled in the spring, BRE is pushing for immediate measures to improve private
A2Dominion, one of the G15 housing associations, is set to transform how it delivers its repairs service for the 38,000 homes it manages. A2Dominion has appointed new technology partners, Totalmobile and Manifest Software Solutions, to improve efficiency, reliability, and customer experience, through its integrated online housing repairs service. Due to
SEGRO, the leading owner and developer of industrial and warehouse space, and St George, a leading mixed-use developer in London and proud member of the Berkeley Group, have completed a new lease at SEGRO V-Park Grand Union to Panmedica Medical Distribution Occupying 1,700 sq ft and on floor five of
Emerging housebuilder Honey has achieved remarkable growth, securing 21 sites across Yorkshire and the Midlands to deliver 2,850 homes with a gross development value of £795 million—all within just two years of trading. Launched in October 2022, the Sheffield-headquartered company has quickly established itself as a key player in the
Leading Manchester software services communications business, Voicescape, has relocated its headquarters to flagship office campus, Exchange Quay. The move sees the firm double its current office footprint as a result of sustained growth, both in terms of headcount and market share. Voicescape has agreed a 10 year lease on over
Loungers has taken a major step in its expansion by opening its first-ever restaurant within a covered shopping mall at Merry Hill, further enhancing the vibrant leisure quarter at the popular Dudley destination. The new 3,200 sq ft restaurant, named Toledo Lounge, offers an extensive all-day menu featuring everything from
Tritax Big Box REIT plc (“Tritax Big Box” or “the Company”) has recently purchased a 74-acre site at Heathrow, London within the Slough Availability Zone, a key FLAP-D prime EMEA data centre location (the “Manor Farm site”). Simultaneously, the Company has acquired a 50% share in a joint venture (“the
Osprey Charging, the UK’s leading rapid-charging network, has been chosen by one of Europe’s largest asset management companies – Legal & General – as the provider of electric vehicle (EV) charging infrastructure for its ReAssure Funds. Working closely with advisor Knight Frank, the two companies are bringing reliable, ultra-rapid charging facilities to premium retail and leisure parks across the UK. A first site is already live at Festival Heights Retail Park in Stoke-on-Trent, with four rapid charge points. Two 16-bay ultra-rapid hubs are in construction at Highbridge Retail Park, Waltham Abbey, Essex, and at Woodside Leisure Park, Watford. Conveniently situated just off the M25 and M1 respectively, these locations offer drivers an ideal opportunity to recharge their vehicles and enjoy a break from their journey. In total, six sites from L&G’s ReAssure portfolio will benefit from ultra-rapid charging. The planned rollout spans England, from the South East to the North West, and collectively delivers 72 state-of-the-art charge points. L&G’s EV charging strategy shows its commitment to future-proofing its assets while enhancing long-term value for tenants and retail customers alike. David Goatman, Partner, Department Head, Global Head of Energy and Sustainability at Knight Frank, commented: “We are delighted to have advised Legal & General on this successful rapid EV charging partner selection. This kind of innovative procurement process will help to deliver crucial low carbon infrastructure across the portfolio and add to the on-site amenity offer for occupiers.” Andrew Nosworthy, Commercial Director at Osprey Charging, said: “We’re proud to work with L&G’s ReAssure portfolio, providing the ultra-rapid charging infrastructure that is crucial for the UK’s expanding EV market. By installing reliable, high-powered charging hubs, we’re making EV ownership more convenient and accessible for drivers across the country, whilst making these excellent retail parks even more attractive to tenants and customers. With over 1,300 charging bays, we are the UK’s third largest open rapid charging network and committed to further expansion with high quality landowners like L&G.” Easy to use and powered by 100% renewable energy, Osprey chargers accept contactless bank cards, Apple/Google Pay, the Osprey App and payments through all major third-party methods including fleet fuel cards. Osprey’s in-house software, Osprey Iris, enables market-leading levels of reliability and fleet integrations. As a result, Osprey is a multi-award-winning network and a Zap-Map ‘Driver Recommended Network’ for satisfaction for the fifth consecutive year. Building, Design & Construction Magazine | The Choice of Industry Professionals
Spanish fashion giant Mango is accelerating its UK expansion with plans to open 20 new stores in 2025, further strengthening its presence in key locations across the country. The latest openings are part of the retailer’s ambitious 2024-26 growth strategy, which aims to increase Mango’s footprint and bring its total number of UK stores to over 90. Following a successful year of expansion in 2024, the brand is set to make an even bigger impact in the coming months. Major Openings in London and Beyond Six of the new stores will be in London, including a second flagship store on Oxford Street. Other prime locations include Kensington High Street and Long Acre in Covent Garden, reinforcing Mango’s commitment to high-visibility retail spaces in the capital. Beyond London, the expansion will extend across the UK and Ireland, with new stores opening in Birmingham, Glasgow, Dundee, Aberdeen, Belfast, Craigavon, and Cardiff. These locations reflect Mango’s strategy of reaching a wider customer base and strengthening its presence in major shopping destinations. A Strong Commitment to Growth Mango, which currently operates in around 70 locations across the UK, is continuing its push to become a leading fashion retailer in the market. The brand has seen strong demand for its stylish, contemporary collections, and its store expansion is designed to enhance the in-person shopping experience for customers. Daniel López, Director of Expansion and Franchising at Mango, commented: “The UK remains one of our priority markets for international growth. Our 2025 expansion plan builds on the success of our store openings in 2024, allowing us to increase our reach and bring the Mango experience even closer to our customers.” With a growing presence in key retail hubs and a focus on delivering high-quality fashion in prime locations, Mango’s expansion signals confidence in the UK market. As the brand continues to invest in physical retail, shoppers can expect even greater access to its latest collections in stylish, well-designed stores nationwide. Building, Design & Construction Magazine | The Choice of Industry Professionals
Whitbread Plc, the parent company of Premier Inn, has secured the freehold of 35 Red Lion Square, WC1, with plans to transform the site into a hub by Premier Inn hotel. Situated at the junction of Theobalds Road, Drake Street, and Red Lion Square, the prominent eight-storey, 47,500 sq ft building was purchased from the Royal College of Anaesthetists (RCoA) for an undisclosed sum. The property has served as the organisation’s headquarters since 2006. As part of its ongoing London expansion strategy, Whitbread sees strong potential for a 150-bedroom hub by Premier Inn at this prime location. Jonathan Langdon, Senior Acquisitions Manager at Whitbread, commented:“hub by Premier Inn has been a tremendous success since its launch in 2014. We now offer guests 18 fantastic locations—15 of which are in London—and see huge growth potential for the brand.” “The first site we ever opened was an office-to-hotel conversion in Covent Garden, and we’ve successfully delivered many similar projects since. We plan to bring this experience to 35 Red Lion Square, transforming it into a high-quality hotel in a sought-after location.” “Converting underused office buildings into hotels has enabled us to establish hub by Premier Inn in some of London’s most vibrant areas while aligning with Whitbread’s Force for Good sustainability strategy. With this latest acquisition, we look forward to working closely with Camden Council to develop plans that benefit both visitors and the local community.” Expanding in the Capital Whitbread’s purchase of 35 Red Lion Square is part of its wider commitment to growing Premier Inn’s presence across London, where a significant portion of its future development pipeline is focused. The company is actively searching for 40 new locations for Premier Inn and hub by Premier Inn hotels within the M25. Designed for high-demand city locations, hub by Premier Inn offers a compact yet stylish format that allows for affordable stays in prime areas while delivering strong long-term returns. Hotel sizes vary, from the 60-bedroom hub by Premier Inn at Bank to the upcoming 690-room flagship hub at 5 Strand, set to open in 2028. Whitbread was advised on the acquisition of 35 Red Lion Square by Frame Real Estate Partners, while the Royal College of Anaesthetists was represented by Newmark. Building, Design & Construction Magazine | The Choice of Industry Professionals
The Building Research Establishment (BRE) is calling for urgent action to support homeowners in retrofitting 12 million homes across England that currently fall below adequate energy efficiency standards. With the government’s Warm Homes Plan set to be unveiled in the spring, BRE is pushing for immediate measures to improve private sector housing and reduce energy costs for millions. Newly released figures from the English Housing Survey (EHS) show that, for the first time, over 50% of homes in England now meet at least an Energy Performance Certificate (EPC) band C rating—a significant milestone in improving home energy efficiency. While social housing has made notable progress, privately owned and rented properties remain a major challenge, requiring large-scale interventions to create healthier, low-carbon, and cost-efficient homes. Tackling Energy Inefficiency in Private Homes The Warm Homes Plan has already introduced Local Grant funding to combat fuel poverty, and the £1bn-a-year ECO programme—which supports low-income households—is set to continue until 2026. However, BRE’s analysis of the latest government data highlights that wider-reaching support is needed to meet the UK’s net zero targets. A key concern is that the burden of improving inefficient homes (those rated below EPC band C) is overwhelmingly a private sector issue, with 90% of these properties either owner-occupied or privately rented. Some of the least efficient homes include: Cold Homes Costing the NHS £500 Million a Year Poor energy efficiency in homes isn’t just an environmental issue—it’s a major public health concern. According to separate research by BRE, cold homes are the single largest housing-related cost burden to the NHS. In 2023, it was estimated that over £500 million was spent treating cold-related illnesses caused by homes in the lowest EPC bands F and G. To address this, BRE is urging the government to ensure the Warm Homes Plan includes targeted retrofit advice, particularly for the over-65s, who own more than 40% of the owner-occupied homes that fall below EPC band C. The plan should also include support for accessing finance to help households fund essential improvements. By tackling energy inefficiency across the full spectrum of housing stock, the government can make significant progress towards net zero while protecting households from high energy bills and the health risks associated with cold homes. Jane Goddard, Managing Director of Building Performance Services and Deputy CEO of BRE, said: “We have made encouraging progress to date on retrofitting our existing housing stock, with over half of English homes now meeting the reasonable EPC C standard. “However, our approach to the remaining energy inefficient homes will require consideration to ensure the Warm Homes Plan can target a much wider group of households with effective support. “Local authorities will be crucial in this journey and require the necessary data, capacity, funding and powers to deliver energy efficiency improvements to homes most in need. The upcoming English Devolution Bill will hopefully mark a welcome step in this process.” Building, Design & Construction Magazine | The Choice of Industry Professionals
A2Dominion, one of the G15 housing associations, is set to transform how it delivers its repairs service for the 38,000 homes it manages. A2Dominion has appointed new technology partners, Totalmobile and Manifest Software Solutions, to improve efficiency, reliability, and customer experience, through its integrated online housing repairs service. Due to launch in Summer 2025, the system will mean all customer repair requests are managed within one central system, rather than across multiple platforms. Developed with Totalmobile’s expertise in field service management technology and Manifest Software Solutions’ housing integration services, A2Dominion, which received 150,000 repair requests last year alone, will be able to provide a more reliable and streamlined service. The new system will: Once live, customers who request repairs through A2Dominion’s online portal My Account will be able to do the following for non-urgent repairs: A2Dominion currently has more than 17,600 customers registered to use My Account, which represents approximately more than a third of its customer base. Ahead of the system launch, A2Dominion will be inviting customers to get involved at each stage of the design process and test the new system to make sure it is easy to use. Jo Evans, A2Dominion’s Director of Repairs & Maintenance, said: “We’re excited to partner with Totalmobile and Manifest Software Solutions to work with our customers to develop and launch this new repairs system. Our top priority is providing a better repairs service for customers. One of our key challenges is that we currently hold data across multiple platforms – this creates inefficiencies in the way we work and impacts the service we give to customers. “The introduction of the new technology is a critical step in our journey as it means everything will be held in one place. The new system will speed up our repairs process and give our customers reassurance that we’re dealing with their repairs requests effectively.” David Webb, Managing Director of Property and FM at Totalmobile, said: “We’re thrilled to be working with the team at A2Dominion on such a transformative project. This new partnership allows us to bring our software to life in a way that directly benefits residents by making the repairs process simpler and more efficient. With the introduction of this new technology, we’re ensuring that the new system works for everyone – customers, operatives and the organisation as a whole.” Alan Swift, Manifest Software Solutions’ Managing Director, said: “Repairs is a hugely important service provided by a landlord. We’re incredibly proud to be supporting A2Dominion to improve the repairs service they provide to their customers. We have integrated systems with Totalmobile before and, while this is a challenging project, we know it will make a huge difference to customers and will ensure they get a better experience.” Building, Design & Construction Magazine | The Choice of Industry Professionals
SEGRO, the leading owner and developer of industrial and warehouse space, and St George, a leading mixed-use developer in London and proud member of the Berkeley Group, have completed a new lease at SEGRO V-Park Grand Union to Panmedica Medical Distribution Occupying 1,700 sq ft and on floor five of the six-storey industrial development, Panmedica Medical Distribution will be the first company from the life sciences sector at the groundbreaking urban logistics park in Alperton, North West London. The development, designed with scalability and flexibility at its core, completed in April last year. SEGRO V-Park Grand Union is an industrial warehousing scheme, designed to maximise space where land is constrained. Delivered as part of a vibrant, mixed-use neighbourhood comprising 3,350 homes – 35% of which will be affordable – SEGRO V-Park Grand Union provides an innovative demonstration of industrial intensification and co-location of industrial and residential space. Panmedica is the second customer to establish operations onsite since completion, joining the inaugural customer, an automation and robotics company. The development’s strategic location, advanced infrastructure and wide range of modern amenities make it an attractive destination for businesses seeking agility, adaptability and long-term growth opportunities. Terry Glenn, Director, Panmedica Medical Distribution, said: “We are excited to locate at SEGRO V-Park Grand Union, a truly innovative development that aligns with our growth ambitions and operational needs. The combination of modern, flexible facilities, excellent connectivity and a thriving ecosystem of businesses makes it an ideal location for our company.” Ben Gomez-Baldwin, Director, London, SEGRO, said: “SEGRO V-Park Grand Union is an excellent fit for companies in the innovative life sciences sector, offering the flexibility to scale operations, modern facilities, a collaborative environment and a well-connected location that is attractive and easily accessible for employees. We’re pleased to welcome Panmedica Medical Distribution as our second customer at this innovative development helping shape a dynamic business community at the development and proving that the multi-storey industrial concept works across a range of business sectors.” Marcus Blake, Managing Director at St George PLC, said: “Grand Union showcases our commitment to transforming brownfield sites into sustainable, thriving neighbourhoods. Spanning 22 acres, with 50% dedicated to open space and 850m of newly accessible waterside frontage, it is designed to enhance both community and environment. 2025 will be a landmark year, welcoming new businesses such as Panmedica Medical Distribution, adding to the leisure experience which includes the opening of a new soft play café and launching 72 new canalside homes at Peninsula House. Grand Union is rapidly becoming a dynamic place to live, work and enjoy.” SEGRO V-Park Grand Union is located in the London Borough of Brent, one of London’s most sought-after industrial areas, and will front onto the North Circular (A406), providing excellent access into the London market and connectivity to the M1 and M25. Building, Design & Construction Magazine | The Choice of Industry Professionals
Emerging housebuilder Honey has achieved remarkable growth, securing 21 sites across Yorkshire and the Midlands to deliver 2,850 homes with a gross development value of £795 million—all within just two years of trading. Launched in October 2022, the Sheffield-headquartered company has quickly established itself as a key player in the UK housing market. For the financial year ending 31 December 2024, Honey has already secured £85 million in total forward sales. Earlier this year, the company also launched a partnerships division, which will initially deliver 286 affordable homes across four sites, generating forward sales of £60 million. Negotiations are also underway for two additional partnerships sites, totalling a further 238 units. With five active developments, Honey has achieved a sales rate of 0.69 for the year, with an average selling price of £290,000. The company has also earned a 100% customer satisfaction score in all independent surveys conducted by In-house Research, reinforcing its reputation for quality and service. From 2024, these metrics will be measured against the Home Builders Federation (HBF) customer satisfaction survey. Honey currently employs 80 people across its two regional headquarters in Sheffield and Leeds. The company has secured £235 million in funding, including £75 million in equity investment from private equity firm Alchemy Partners and £160 million in bank financing from four leading lenders. Mark Mitchell, founder and chief executive of Honey, expressed confidence in the company’s trajectory: *”We are significantly ahead of where we expected to be at this stage. Our homes have been incredibly well received, offering the perfect blend of style, quality, and sustainability—delivering exactly what buyers want at an accessible price point. Now firmly in our build-and-sell phase, we remain committed to providing outstanding new homes with exceptional customer care before, during, and after purchase. With strong financial backing, we are actively seeking new sites and plan to expand further south into the Midlands this year.”* Thomas Boszko of Alchemy Partners praised Honey’s rapid progress: “Mark and the team have delivered incredible growth in just two years, and 2024 will be another significant milestone for the business. We are excited to continue supporting Honey as it strengthens its presence across Yorkshire and the Midlands.” Over the past year, Honey has been shortlisted for nine national and regional property and business awards, reflecting its innovative approach to housebuilding. “We have built an agile and forward-thinking team, and it’s fantastic to see our approach being recognised both within the industry and the wider business community,” Mark added. “By thinking differently and keeping the needs of modern homebuyers at the heart of our designs, we are redefining what buyers can expect from a new home.” Honey’s 23 house types are designed using detailed consumer research to meet the evolving needs of today’s buyers, with a focus on flexibility and functionality. Every home features bi-fold doors, fully integrated designer kitchens, boutique-style bathrooms with a signature freestanding bath, full-height tiling, and an electric vehicle charging point as standard. As Honey continues to expand, its commitment to quality, innovation, and customer satisfaction ensures it remains one of the most exciting new names in the UK housebuilding industry. Building, Design & Construction Magazine | The Choice of Industry Professionals
Leading Manchester software services communications business, Voicescape, has relocated its headquarters to flagship office campus, Exchange Quay. The move sees the firm double its current office footprint as a result of sustained growth, both in terms of headcount and market share. Voicescape has agreed a 10 year lease on over 5,000 sq ft on the fourth floor of the ICE Building. Agents on Exchange Quay are Canning O’Neill and Colliers. Relocating from their former Manchester residence at Urban Splash’s Boat Shed, Voicescape will occupy a full floor suite where the team of 55 employees will service their expanding nationwide social landlords and local authority client base. Voicescape uses a combination of technology, behavioural science and data science to create customer communications technology that helps to increase efficiency and improves service levels. The business has ambitious growth plans and cites Manchester’s tech talent pool as a key driver in its decision to retain its headquarter operations in the city. Muhammed Shaikh, Head of Marketing at Voicescape, said: “As a Manchester based tech business, we are proud of our roots and have access to some of the best talent in the country. Moving into ICE at Exchange Quay gives us the space for our current employees, whilst also accommodating future growth, but it’s about much more than the footprint. The landlord’s forward-thinking attitude and the dynamic environment makes it an ideal location for us and the environmental focus aligns with our carbon reduction ambitions. As a business we are all about using technology for the good of people and so Exchange Quay’s tenant app and resident engagement was a real draw. We are looking forward to growing our business on the campus.” Les Lang, Director, Till AM, said: “Voicescape is a welcome addition to our tenant mix here at Exchange Quay and we know they are looking forward to being part of the community we have created and continue to invest in. They will join a significant number of expanding businesses and we are pleased that our tenant engagement and campus credentials continue to attract ambitious, leading organisations like this.” Dominic Pozzoni, Director, Colliers, said: “Following a great 2024, it is fantastic to start 2025 with another new business selecting Exchange Quay to accommodate its growth. Exchange Quay continues to appeal to an array of business sectors, providing superb office space within a vibrant and extremely well managed site, with exceptional on-site amenities and public transport links.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Loungers has taken a major step in its expansion by opening its first-ever restaurant within a covered shopping mall at Merry Hill, further enhancing the vibrant leisure quarter at the popular Dudley destination. The new 3,200 sq ft restaurant, named Toledo Lounge, offers an extensive all-day menu featuring everything from indulgent brunches to evening tapas, fresh salads, and hearty burgers. This latest addition complements the £12 million investment made into Merry Hill’s leisure quarter over the past three years, joining a stellar line-up of dining and entertainment brands such as Hollywood Bowl, ASK Italian, Wagamama, and Wingstop. Alistair Winning, asset manager at Sovereign Centros, commented on the milestone: “Merry Hill’s leisure quarter continues to thrive, with record-breaking performance and an outstanding collection of casual dining experiences. The arrival of Toledo Lounge strengthens our food and beverage offering, creating an inviting space that enhances our vision for a vibrant, all-day destination.” John English, head of community at Loungers, shared his enthusiasm for the launch: “We’re thrilled to bring our ‘home-from-home’ experience to Merry Hill. Toledo Lounge is designed to be a welcoming, relaxed space for everyone, including families, with games, colouring books, and more. We’re looking forward to becoming a key part of this dynamic community.” The opening of Toledo Lounge follows a series of new signings and reinvestments across Merry Hill’s lower retail park, covering nearly 79,000 sq ft and reinforcing the centre’s position as a leading destination for shopping, dining, and leisure. Building, Design & Construction Magazine | The Choice of Industry Professionals
Tritax Big Box REIT plc (“Tritax Big Box” or “the Company”) has recently purchased a 74-acre site at Heathrow, London within the Slough Availability Zone, a key FLAP-D prime EMEA data centre location (the “Manor Farm site”). Simultaneously, the Company has acquired a 50% share in a joint venture (“the JV”) with a leading European renewable and low carbon energy power generator (“the JV Partner”). The JV enables accelerated power delivery to the Manor Farm site using pre-existing grid connection agreements. The acquisition of an interest in the JV constitutes a related party transaction for the purposes of the UK Listing Rules, further details of which are set out below. Subject to receiving planning consent, the acquisition of the land and stake in the JV facilitates an accelerated timeline to the potential delivery of up to 147 Megawatts (“MW”) of power to support the development of a major data centre scheme at Manor Farm. In addition, Tritax Management LLP (“Tritax Management” or “the Manager”), working with the JV partner, has created a further pipeline of potential data centre opportunities in key locations within the UK utilising power availability of c.1 gigawatt (“GW”). A prime location for a latest generation data centre of significant scale Targeting exceptional returns and accelerated timeline with 9.3% yield on cost and significant development profits Tritax Management has created a potential data centre pipeline of up to 1 GW An attractive market at a key inflection point, underpinned by long-term demand drivers and scarcity of powered land Contractual arrangementsThe land at Manor Farm is being acquired from Airport Industrial Property Unit Trust (“AIPUT”). The JV stake is being acquired from Tritax Management. All return related figures in this announcement are presented net of the following consideration and fees payable to AIPUT and Tritax Management as outlined below: Aubrey Adams, Chairman of Tritax Big Box, commented“This is a decisive and exciting first step for the Company in the very attractive data centre market which the Manager has unlocked with its power and real estate capabilities. This gives the Company a considerable competitive advantage in capturing the growing demand for data centre infrastructure. The combination of Manor Farm’s prime London location and accelerated access to critical grid connection agreements creates the opportunity to develop quickly one of the UK’s largest data centres and deliver exceptional returns for our shareholders. “Over the past four years, the Manager has independently developed and invested in its power capabilities, securing a joint venture arrangement with one of Europe’s largest major renewable and low-carbon energy generators which the Company is now acquiring at Manor Farm. This provides accelerated access to power in this prime data centre location, where a lack of power has significantly restricted the development of these nationally critical infrastructure projects. Having taken extensive and independent professional advice, the Board of Tritax Big Box has successfully negotiated preferential access and terms for this opportunity, which generates exceptional returns and complements our logistics development pipeline. The Board has also negotiated a right of first refusal with the Manager for all future data centre opportunities with up to c.1 GW of power capacity.” [1] Source: McKinsey & Company [1] AIPUT is an independently owned Jersey Property Unit Trust managed by Tritax Management LLP which, for the avoidance of doubt does not form part of the Manager’s group, and therefore, is not a related party of the Company for the purposes of the UK Listing Rules. The independent unit holders of AIPUT approved the sale of land at Manor Farm to the Company via a vote. [1] AIPUT will receive 30% of the real estate and battery storage related profits equivalent to 21% of total Phase 1 profits. [1] The development management fee is payable by reference to different milestones, with 3.5% payable in quarterly instalments contingent and commencing from the grant of satisfactory planning permission and 1.5% payable following the later of the date of grant of satisfactory planning permission and the date of exchange of an acceptable pre-letting agreement. [1] The Phase 1 profit in respect of the above contingent profit share arrangements is calculated as the fair value of the asset base at the time of completion (as confirmed by an independent valuer) less all associated costs. [1] Subject to a 12 month lock up arrangement. Building, Design & Construction Magazine | The Choice of Industry Professionals