U and I Group PLC Planning permission at Swanley Shopping Centre (2590L)

TIDMUAI

RNS Number : 2590L

U and I Group PLC

05 September 2019

5 September 2019

U and I Group PLC

U+I secures planning permission at major investment portfolio asset

U+I (LSE:UAI), the specialist regeneration developer and investor, announces that it has secured planning permission for a mixed-use scheme including new homes and a multi-storey car park at Swanley Shopping Centre in Kent, enhancing the value of the third largest asset in its investment portfolio.

U+I has been awarded planning consent at appeal to transform part of the existing shopping centre and car parking - which it holds within its investment portfolio - into over three hundred new homes, 46,479 sq. ft. additional retail / commercial space, a new community facility and a multi-storey car park. The additional homes and enhanced amenities will increase footfall into Swanley Shopping Centre, adding further value to this investment portfolio asset.

Matthew Weiner, CEO of U+I, commented:

"The Inspector's decision found strongly in favour of this imaginative, mixed-use development in Swanley, which is located less than thirty minutes from Central London in an area of huge potential. It is a strong demonstration of our integrated regeneration business plan and one of many such opportunities within our portfolio, as we look to maximise the value of our assets."

ENDS

For further information, please contact:

U+I

Nicola Krafft

[phone]

[e-mail]

Camarco (Financial PR Adviser)

Geoffrey Pelham-Lane / Hazel Stevenson / Tom Huddart

[phone] / 4989 / 4996

[e-mail]

About U+I

U+I is a specialist regeneration developer and investor.

With a >GBP11 billion portfolio of complex, mixed-use, community-focused regeneration projects including a GBP154.0 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

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September 05, 2019 02:00 ET (06:00 GMT)