U + I DELIVERS A DEFINING FIRST YEAR

17.11.16

In November, 2015, two very different companies came together under one name in a new home with one shared ambition – to be the best property regeneration specialist in the UK. Since then, U+I has proved itself to be United + Industrious by name and by nature.

Driven by our vision to create long-lasting social and economic benefit for communities and sustainable value for shareholders, we promised:

  • to deliver the best in mixed-use regeneration
  • to strengthen our position as the public sector partner of choice
  • to focus our efforts on fewer, larger projects
  • to be a force for change and challenge in the industry

Bold? Perhaps. Achievable? Let our performance be the judge of that.

Our first year as U+I began by celebrating the opening of The Movement, our mixed-use regeneration scheme in Greenwich town centre. We will end our first year on a high with the launch of Deptford Market Yard on 23 November 2016, celebrating South East London’s newest mixed-use community and must-visit destination for independent retail and leisure.

And how are we performing on our ambition to be the public-private partner of choice? U+I has been selected as the development partner on a number of major schemes this year, including:

  • a £100m PPP project for Holborn Library and Cockpit Yard in partnership with Camden Borough Council.
  • a £380m mixed-use scheme for 8 Albert Embankment, the historic home of the London Fire Brigade in partnership with the London Fire and Emergency Planning Authority
  • Mayfield in Manchester – working in partnership with London and Continental Railways, Manchester City Council and Transport for Greater Manchester, we will breathe new life into what was once a thriving city district with the creation of a thriving £850m mixed-use community for the city centre including a new city park.
  • Westminster Industrial Estate - selected by Royal London, we are partnering with Galliard Homes to regenerate the principal part of the Westminster Industrial Estate in Charlton, South East London into a creative urban village with a GDV of £200m.

In total, we’ve added £1.5bn GDV to our development pipeline through the major PPP projects won in 2016 and are making good progress on our stated financial targets in a challenging environment.

Working as we do at the interface of so many disciplines and so many lives, we take our responsibility to create inclusive environments people can thrive in very seriously. As this year’s activity shows, our engagement with communities starts from the very beginning. Forming part of our plans for The Old Vinyl Factory site in Hayes, we’ve supported 22 blossoming hardware start-ups at the Central Research Laboratory over the past year. FIELD Brighton, part of our Preston Barracks scheme, has become home to 12 local businesses and start-ups, selling everything from edible insects to handmade wooden film cameras. At the beginning of November 2016 we also opened the doors to The Workshop at 8 Albert Embankment, the newest addition to our meanwhile use activities which, in addition to a pop up museum for the London Fire Brigade, will be home to a range of charities, social and start up enterprises – all with creativity at their heart.

Reflecting on U+I’s first year, Matthew Weiner, Chief Executive of U+I said: “Our performance over the past year proves that ‘the whole is greater than the sum of its parts’. The success that U+I has had in securing larger regeneration projects in the London City Region and Manchester demonstrates the robustness of our strategic focus on fewer, larger projects and our expertise in partnering with the public sector to create new mixed-use projects for the communities in which we work. We are also concentrating our efforts on transitioning our investment portfolio and developing platforms that draw on our deep expertise to allow us to grow further.

“With a clear strategic direction, a talented team driving our ambitions forward and the value of collaboration at the centre of our approach, we are confident that we will continue to punch above our weight and deliver beyond expectations in the years ahead.”

Richard Upton, Deputy Chief Executive of U+I added: “Trust is a crucial component in our own measure of success, in all of our relationships and partnerships– from communities to public bodies and private sector partners, to investors and contractors.

“Combining creativity and imagination, underpinned by expert management of finance and risk, our momentum over the past year has cemented U+I as a key player and trusted partner of choice in the regeneration sphere. Adopting a long-term approach to everything we do, this first year has laid the foundations for an exciting future for U+I, our partners, investors and the communities where we work – we have momentum and we’re only just getting started.”

ENDS

Notes to editors:

About U + I

U+I is a specialist regeneration and property developer.

With a £5bn portfolio of complex, mixed-use, community-focused regeneration projects including a £200m investment portfolio, we are unlocking urban sites bristling with potential in the London, Manchester and Dublin city regions. We create long-lasting social and economic change for the communities in which we build, and sustainable value for our shareholders.

To find out more, visit www.uandiplc.com.

For further information, please contact: Olivia Blunt, Teneo Blue Rubicon
T: 020 7260 2700
olivia.blunt@teneobluerubicon.co.uk