15th Mar 2016 08:20
LONDON (Alliance News) - Property company U&I Group PLC on Tuesday said it has realised a GBP4.0 million profit from the practical completion of its project in Deptford in south east London.
The project, profit from which was in line with U&I's expectations, covered the regeneration of a formerly vacant site in Deptford into a mixed-use community area, with 132 homes, 11,000 square feet of commercial and retail space and new public space.
"The Deptford Project is a perfect example of U+I's approach to regeneration," said U&I Deputy Chief Executive Richard Upton.
"We look forward to now adding further value to the Deptford Project as we manage the retail space within our investment portfolio as part of the evolved investment strategy that we outlined at our half year results," Upton added.
U&I shares were up 0.8% to 189.00 pence early Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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