U and I Group PLC U+I sells Thatcham shopping centre for £16.1m (5501D)
February 01 2018 - 1:00AM
UK Regulatory
TIDMUAI
RNS Number : 5501D
U and I Group PLC
01 February 2018
1 February 2018
U and I Group PLC
U+I sells Thatcham shopping centre for GBP16.1m
U+I (LSE:UAI), the specialist regeneration developer and
investor, announces the sale of Kingsland shopping centre in
Thatcham for GBP16.1 million from its investment portfolio. This
comprises the sale of the Waitrose foodstore to Knight Frank
Investment Management on 22 December 2017 and the remaining retail
to Sheet Anchor Evolve Limited on 31 January 2018. The combined
sale price was above book value as at 31 August 2017, reflecting a
blended yield of 5.86%. This latest sale takes disposals in our
investment portfolio to GBP38.9 million for the financial year to
date.
During its ownership, U+I's asset management skills added
significant value to Kingsland Shopping Centre. This included
extending the lease on the anchor Waitrose food store by fifteen
years in 2015.
Matthew Weiner, Chief Executive of U and I Group, said:
"The sale of the Kingsland Shopping Centre marks further
progress on our investment disposals strategy. We are pleased to
have secured this sale above book value and are well placed to
acquire new assets that align with our focus on regeneration."
ENDS
For further information, please contact:
U and I Group PLC
Nicola Krafft
+44 (0) 20 7828 4777
ir@uandiplc.com
Camarco (Financial PR Adviser)
Geoffrey Pelham-Lane / Tom Huddart
+44 (0) 20 3757 4985/4996
uandi@camarco.co.uk
About U + I
U+I is a specialist regeneration developer and investor.
With a GBP6bn portfolio of complex, mixed-use, community-focused
regeneration projects including a GBP145m investment portfolio, we
are unlocking urban sites bristling with potential in the London,
Manchester and Dublin city regions. We exist to create long-term
socioeconomic benefit for the communities in which we work,
delivering sustainable returns to our shareholders.
To find out more, visit www.uandiplc.com or follow us
@uandiplc
This information is provided by RNS
The company news service from the London Stock Exchange
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