20th Dec 2019 18:38
(Alliance News) - U&I Group PLC said Friday it has submitted plans for its GBP200 million gross development value mixed-use scheme at Faraday Works in Charlton, Greenwich.
The real estate developer and investor said it expects an outcome in the second half of 2020 and first gains from the project in the 2021 calendar year.
The company said this scheme will transform the historic Siemens Brothers Factory overlooking the River Thames from a derelict site into a thriving business, innovation and residential village, creating 900 jobs and GBP100 million for the local economy.
Richard Upton, chief development officer, said: "Faraday Works will celebrate the industrial heritage of the site and deliver on the vision of the masterplan for Charlton Riverside to retain and grow industry and jobs, as well as meet the urgent need for new homes."
U&I shares closed 7% higher in London at 180.00 pence each on Friday.
By Loreta Juodagalvyte; [email protected]
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