Landsec has announced that it is creating a new regeneration-focused business to drive forward its strategic focus on delivering mixed-use urban neighbourhoods.
The new business will be created by integrating Landsec’s existing regeneration projects and associated teams with those of the recently acquired regeneration specialist U+I.
Mike Hood, managing director of U+I, will lead the new business as CEO with Richard Upton stepping down from that position and taking on a part-time role as senior advisor to the team.
The business aims to fulfil a dual role: to create value through impactful regeneration and to build a pipeline of product through the development of mixed-use urban neighbourhoods to supply Landsec’s wider portfolio.
Mark Allan, CEO Landsec said: “In buying U+I, we acquired not only a strong development pipeline, but also the skills and experience to help us deliver. Under Mike’s leadership, our regeneration business will have the partnerships, the people and the pipeline to deliver truly great places that create lasting benefits for our stakeholders and the communities in which we operate.”
Mike Hood said: “U+I has a long pedigree of delivering sustainable, thoughtful regeneration and creating places where people can live, work and socialise. Today’s announcement marks the next step in our evolution, and we’re excited to be building something that will be truly special in our sector. “