21st Mar 2018 11:12
The property regeneration company secured planning consent at the Machine Store for the development of 81 homes and 11,200 square feet of retail and commercial space that will be delivered by Crest Nicholson. U&I will retain the commercial space within its portfolio.
"The sale of the Machine Store is another exciting step in the transformation of The Old Vinyl Factory in Hayes. The gains realised from this sale have contributed to the record level of development and trading gains achieved in 2018, at the top end of our target of
"We are also pleased to be retaining the commercial element of the development within our investment portfolio, as we acquire assets that better align with our focus on regeneration, targeting investment portfolio returns of 10% per annum," Upton added.
Shares in U&I Group were up 1.5% at
Related Shares:
Crest NicholsonUAI.L