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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
U And I Group Plc | LSE:UAI | London | Ordinary Share | GB0002668464 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 148.50 | 148.50 | 149.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMUAI
RNS Number : 0696R
U and I Group PLC
26 February 2019
26 February 2019
U and I Group PLC
U+I acquires Pure Gym unit in Finchley for investment portfolio
U+I (LSE:UAI), the specialist regeneration developer and investor, announces the acquisition of the Pure Gym unit in Finchley, in line with its acquisitions strategy.
This leasehold leisure asset in North London has been acquired off-market, at a cost of GBP4.75 million, using some of the GBP9.0 million surplus in the Aviva facility, following the recent strategic disposal of part of The Killingworth Centre, announced on 29 January 2019. It offers a net initial yield of 5.85%, which is expected to rise to over 7.0% at rent review in 2021.
Let to Pure Gym, the property meets U+I's investment criteria as an income producing asset with longer-term regeneration potential.
Matthew Weiner, CEO of U+I, commented:
"The acquisition of this Pure Gym unit marks further progress in achieving our GBP50 million acquisitions target for FY19. Located in one of our core geographies, having traded well for many years and with a long unexpired lease term, it has the potential to deliver double digit returns. This acquisition further strengthens our investment portfolio and will support our longer-term target of delivering an average 10% total return."
ENDS
For further information, please contact:
U+I
Nicola Krafft
+44 (0) 20 7828 4777
ir@uandiplc.com
Camarco (Financial PR Adviser)
Geoffrey Pelham-Lane / Hazel Stevenson / Tom Huddart
+44 (0) 20 3757 4985 / 4989 / 4996
uandi@camarco.co.uk
About U+I
U+I is a specialist regeneration developer and investor.
With a c.GBP9.5 billion portfolio of complex, mixed-use, community-focused regeneration projects including a GBP145.7 million investment portfolio, we are unlocking urban sites bristling with potential in the London City Region (within one hour's commute from Central London), Manchester and Dublin. We exist to create long-term socio-economic 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
ACQSESFAIFUSEDE
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February 26, 2019 02:01 ET (07:01 GMT)
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