Social value

Contributing to vibrant communities

Joyful moment between mother and daughter on a sunny park bench

Our approach

This approach aims to drive Redevco’s commitment to creating vibrant spaces that benefit the wellbeing of users and local communities.

Both as a manager and through our AuM, we can deliver Social Value directly through our people, for instance through our internship opportunities, graduate programme and volunteering allowance.

We can also influence social value delivered by tenants and stakeholders by sharing insights and suggested actions. Suppliers also have a role to play and can facilitate social value, whereby we intend to include key requirements to drive social value in our contracts with suppliers. Lastly we identified further opportunities for charitable support and partnerships to increase Social Value.

You can read more about each of these themes below.

Social value updated

Community needs

  • Redevco undertakes research periodically throughout an asset’s lifecycle to understand the needs of communities local to assets. This allows Redevco to conduct more impactful Social Value projects and to develop strong partnerships.
    • Based on the local needs research, Redevco engages the community in plans from the earliest stages of planning throughout the lifecycle.
    • Through local needs research and community engagement, Redevco identifies opportunities for partnerships near to the asset for activities such as construction, supplying, service delivery.
  • Within Redevco’s sphere of influence is how we inspire and encourage tenants to deliver Social Value in occupation. As Redevco is facilitating local needs research, community engagement and engaging local partners, we seek out opportunities to share these insights and suggested actions to tenants and stakeholders.
  • Providing activating space; ‘meanwhile use’ Redevco recognises that meanwhile use, providing underused or underutilised space to organisations, is an opportunity to support the local community, economy and worthwhile social initiatives.

Employment

  • We value diversity and strive to create a place where everyone feels welcome, included, and respected. Recognising the strength of individual differences, yet ensuring equality in how we treat every person, is part of our culture. Inclusion, Diversity and Equity is central to our core values of integrity, honesty and fairness in our dealings with our staff, customers, subcontractors and suppliers.
  • Redevco creates skills opportunities such as internships, our graduate programme and supporting those from disadvantaged backgrounds. We require suppliers and engage with tenants to create skills development opportunities as well.

Procurement practices

  • Redevco as a manager, on developments and on standing assets embeds Social Value requirements into procurement of goods and services
  • We actively look for opportunities to support local people and businesses through the works undertaken on-site including procuring delivery partners.

Foster biodiversity

  • We identify opportunities to foster biodiversity in the asset, increase species diversity and maximise green space
  • An important part of placemaking is allowing citizens to access and connect to nature. This in turn improves quality of life, health and promotes environmental benefits. Loss of biodiversity has an impact on humanity.

Corporate stewardship

  • Identify opportunities for partnerships to increase social value. In line with our mission, we believe that businesses have a broader responsibility to the communities in which they operate. Redevco continually identifies opportunities for charitable support and meaningful partnerships to create greater outreach and impact.
  • Given its pertinence to the built environment, Redevco considers homelessness as a key issue to tackle.
  • Involving schools in real estate activities goes beyond just business. It is a mutually beneficial relationship that helps everyone involved — from prospective homebuyers to local families and the schools themselves.
  • By communicating and sharing knowledge of our Social Value stance we will be able to ensure that important stakeholders understand our intentions and the positive Social Value potential in real estate.