Over the last 20 years our property potfolio has changed dramatically. From mainly high street based stores, the vast majority of our premises are now retail warehouses in out of town or edge of town parks. The reduction on the number of these parks means that, although we're still opening 20 new stores every year - some outside the UK, the property department is focused on getting the best return on our portfolio.

This happens in two ways. Firstly, as all our properties are on 5 year rolling reviews, there are around 80 happening at anyone time and there is obvioulsy an opportunity to restructure agreements to keep costs under control and generate revenue. Secondly, we have an ongoing programme of store conversions to maximise the retail opportunities on all of our sites. Many of our properties now have mezzanine floors and we're rolling-out 30 to 40 of these conversions every year. More details are available here.

We work with a variety of external consultants and encourage them to act as an extension to our own team and the flat structure within the depatment means that all of our people get plenty of responsibility and high visibility within Halfords and the property maket as a whole. Like all areas of the business, we encourage a highly commercial, entrpreneurial approach to our work and enjoy the freedom to get out there and get the most from our properties.

Please see http://www.halfordsproperty.co.uk for more information.

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