Edinburgh developer, Macdonald Estates, saw pre-tax profits in 2005 rise 21% to £3.7m, according to its latest results.
The figures, revealed yesterday, mark the seventh year of profit growth for the company since its inception in 1998.
In that time it has developed 2m sq ft of retail and leisure space, equating to a capital value of £350m.
The developer, which derives all its profits from the sale of assets – it does not maintain an investment portfolio, has £500m worth of projects in hand. It maintains this alone will secure its business until 2008.
The company currently has 14 planning applications in the pipeline.
Its 2005 figures result mainly from the development, leasing and sale of retail parks, including the 260,000 sq ft Limerick Retail Park in the Republic of Ireland.
Chief executive Dan Macdonald said: “We have carved a niche and are best known as retail developers. But success also lies in gaining innovative planning consents.
“We will embark on a strategic land initiative, identifying pieces of land that can be adopted into local plans that we can convert to other uses over time.”
It has gained 27 change of use consents since 1998 and maintains this is a key attribute for the firm, which it wants to build upon.
References: EGi News 24/05/06
