News Derek Lum joins as Managing Director The Group is pleased to announce that Derek Lum joined Status in November as Group Managing Director. Derek, 50, has joined from Metsec plc, the cold rolled steel building products group. Whilst at Metsec, Derek headed up finance, property, legal and purchasing functions and also managed a number of Metsec businesses. Derek holds a first class honours degree in Mechanical Engineering. He was Chairman of the Cold Rolled Sections Association between 2004 and 2006 and is chairman of the Bethphage Great Britain Charity. Derek has arrived at a time of material development of our business. He will steer the group through its next phase of growth. Derek’s drive and experience and his financial and legal skills will complement our existing team and free up management resources to focus on further business expansion. King Edward's Place - Swindon Our Mentmore division has recently exchanged contracts for the purchase of King Edward's Place just outside Swindon. The contract is subject to our obtaining planning permission for a change of use and to convert the facility into a 4 star hotel with conference and leisure facilities. The new hotel is planned for 135 bedrooms, a range of facilities, a top class restaurant and meeting rooms. Briggens House Hotel The group is currently preparing to refurbish, and convert and upgrade the present building into an exceptional, first class, boutique hotel. The building has significant historical and architectural character and lies in an area that is well served by the M1, M25, and the M11 motorways The development sits within the landscaped grounds of the original house and adjacent to the Briggens Park Golf Club. This special location will enable guests to enjoy a peaceful and relaxing stay. Briggens Park Golf Club In the course of developing new hotel opportunities the group has acquired an excellent 9 hole course in Hertfordshire. Adjacent to the Briggens House Hotel the course sits close to the M25. Having been temporarily closed, pressure from existing members has resulted in the group re-opening the course on September 10th. Status have teamed up with Martin Guy Developments to revitalise the facility and the club is experiencing a strong interest from new and old members alike. Ponds House - Seer Green, Buckinghamshire The group is pleased to announce that it has completed its redevelopment of its Ponds House site at Seer Green. Ponds House comprising six luxury apartments is now being marketed. The Frost Partnership at Beaconsfield have been appointed as selling agent. The adjacent barn conversion has already been sold. Bishops Stortford The recent planning permission for this development has enabled the group to realise the scheme’s retail and residential value by way of a sale of part of the development to Weston Homes. The group has retained the part of the site comprising a commercial office building and parking. These offices are to be refurbished and transferred into the group’s investment portfolio. Octagon Parade and Court The Group has acquired a unique freehold estate at the heart of High Wycombe. Situated between the existing town centre and the new £185,000,000 Eden Development Scheme the investment is anchored on Oxford Circus. The acquired estate extents to 57,789 sq feet of net internal floor area with a current income profile of 52% retail, 28% office and 20% leisure. There are 22 separate tenancies some of which are national names with considerable covenant strength. The property enjoys a very prominent position within the Town centre and is adjacent to the major redevelopment of the Town Centre that is currently underway.