Argent will continue to focus on just a few, exceptional schemes at any one time, to provide our shareholder and partners with an excellent return on their investment.

We are making a substantial, long-term commitment to King's Cross and are keen to pursue new opportunities in Central London, Birmingham, Manchester and other regions with strong economies and excellent public transport.

We will continue to support our major projects with speculative development and world class public realm. The first buildings at King's Cross were occupied in 2011. As a result, Argent will part own, manage or be developing over 10 million square feet of development, with an end value of over £3.5 billion.

Residential development is now a major part of our mixed use, urban regeneration schemes. That trend looks set to continue, as does the emphasis on reducing energy and water demands and carbon emissions. Combined heat and power, private wire networks and energy supply companies (ESCos) are fast becoming part and parcel of major development schemes. Increasingly, those schemes will be held within Real Estate Investment Trusts (REITs) or other forms of collective ownership.

These trends sit comfortably together and reinforce the Argent approach to innovation, identifying new business opportunities and creating long-term value.