21st Nov 2016 08:43
LONDON (Alliance News) - U&I Group PLC on Monday said it has exchanged contracts to sell its Elizabeth House Building in Woking, London.
The mixed-use regeneration specialist said it will realise a profit in excess of GBP3.5 million on the sale of the property, in line with expectations set out at its interim results. The site being redeveloped into new homes, offices and retail units.
"The sale of this site takes development and trading profits in the year to date to GBP30.0 million with further gains expected in the next few months to the end of the financial year," said Chief Executive Matthew Weiner.
The group's financial year is to the end of February.
Shares in U&I were up 1.0% at 162.31 pence on Monday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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