U and I Group PLC U+I update on development of a specialist platform (8451K)
27 September 2016 - 12:00AM
UK Regulatory
TIDMUAI
RNS Number : 8451K
U and I Group PLC
26 September 2016
For immediate release
26 September 2016
U+I update on the development of a Build to Rent specialist
platform
U and I Group PLC (U+I, the Company), the mixed-use property
regeneration specialist, has submitted planning applications to
develop over 1,000 new rental homes worth more than GBP250 million
within the London City Region in Ashford, Maidstone, Swanley and
Woking. Each of these projects will deliver mid-market Build to
Rent residential units, confirming U+I's commitment to focus on
fewer, larger projects and developing specialist platforms. While
U+I is no longer in exclusive discussions with a funding partner
for which heads of terms were agreed in April, the Company is
evaluating a number of opportunities and other potential capital
partners. U+I is well positioned to meet the growing need for
affordable housing with the expertise and an attractive portfolio
of sites in key regions.
Matthew Weiner, Chief Executive of U+I, said: "U+I is well
positioned to launch a Build to Rent platform given the scale of
the pipeline of the sites we now have and the increasing level of
demand evident from both capital and end users. This is in addition
to U+I's recent appointment as development partner at the Mayfield
Quarter, Albert Embankment, Cockpit yard and Blackhorse Road with
over GBP1 billion in GDV. The success we've had in securing
regeneration projects of this scale reaffirms our focus on our
strategic initiatives and we believe that Build to Rent is an
important growth opportunity both for the UK and U+I's
business."
Link to the full press release:
http://www.uandiplc.com/media/press-releases/year-2016
ENDS
For further information, please contact:
Jessica Stalley, Interim Head of Investor Relations
ir@uandiplc.com 020 7828 4777
Tulchan Communications 020 7353 4200
Peter Hewer
Will Smith
This information is provided by RNS
The company news service from the London Stock Exchange
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