Landsec has completed the purchase of regeneration specialist U and I Group Plc in its latest move to accelerate its growth strategy.
Through the acquisition, Landsec gains access to a pipeline of mixed-use development schemes, of which two are well-progressed through planning (Mayfield, Manchester and Morden Wharf, Greenwich Peninsula). A further scheme at Landmark Court, Southwark adds to Landsec’s London Office portfolio, complementing its existing interests in the borough.
Mark Allan, CEO, Landsec said: “This is an exciting milestone for Landsec, one that accelerates our strategy, demonstrating our ability to capitalise on our strengths and create future value for our shareholders.
“Through acquiring U+I, we extend our development pipeline meaningfully, and welcome colleagues who strengthen the skills and expertise in our business. I truly believe that the combination of Landsec and U+I is compelling. There is an alignment of purpose between both organisations, focused on the communities we support and the long term sustainable outcomes we are able to create.”