U & I Group Sells Hampshire Waitrose Store For GBP17 Million

14th Mar 2018 09:40

LONDON (Alliance News) - U & I Group PLC said Wednesday it sold a Waitrose store in Ringwood, Hampshire for GBP17.3 million to IM Properties at the end of February.

The property regeneration firm sold the anchor store in the Furlong Shopping Centre with a sale price yield of 4.99%. The latest sale sees U & I takes its disposals to over the GBP50 million it had targeted for the financial year that ended in February.

U & I emphasised it will retain adjacent retail units at the Furlong Centre.

"We have made further progress on our investment disposals strategy and we are pleased to have secured this sale above book value," U & I Chief Executive Officer Matthew Weiner said. "The company's investment portfolio is well placed to acquire new assets that will generate enhanced returns for our shareholders, where valuations are attractive."

In early March, U & I said it expects to achieve record development and trading performance in its recently ended financial year.

Shares in U & I were 0.4% higher at 196.00 pence on Wednesday.

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