St. Modwen update on COVID-19

To all our customers and partners,

Recent events and the ongoing situation places both a renewed and profound emphasis on protecting the health and safety of our colleagues, our partners, customers and all whom we work with. I want to assure you that we have strong practices in place as we aim to respond to the latest Government and NHS guidance whilst striving to achieve as minimum interruption as possible to business delivery. Here are some of the ways we are responding to events:

Homeworking

All of our office-based colleagues are now being encouraged to work remotely wherever possible. Most of our offices remain open but all unnecessary travel and gatherings are being minimised. Through high levels of investment in IT infrastructure as well as appropriate planning for times like these, our remote colleagues can be agile and near-enough seamless in their day-to-day business activities.

Healthy working practices

All on-site teams are being asked to adopt strict standards around hygiene in line with the Government and NHS guidance and we have strong processes in place around reporting any health-related concerns.

Customer focus

We are continuing to manage our buildings as normal though there may be some exceptions to service levels and we will communicate directly with customers and tenants as appropriate. For homebuyers and customers, we are open for business as usual, albeit additional precautions have been taken for everybody’s protection.

Working together

At this important time, we are encouraging our partners and supply chain to think creatively and collaboratively, so please feel free to share ideas about how we can work effectively together over the coming period.

Strong footing

Finally, I want to emphasise that as a company in recent years we proactively reduced our debt by half and focused on fewer but more strongly supported property sectors and geographies. This leaves the business in a resilient position, much needed at a time like this.

These are unprecedented times but through a rational and collaborative approach we can work through this. We look forward to staying in touch and wish you and your organisation the best during these testing times.

Rob Hudson

Chief Finance and Operations Officer