U and I Group PLC U+I update on development of a specialist platform (8451K)

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

   [e-mail]            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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September 26, 2016 10:00 ET (14:00 GMT)