Progress at Rugby and sale of Herne Bay Superstore

10 October 2016

Urban&Civic plc

("Urban&Civic" or "the Company")

URBAN&CIVIC SIGNS CREST NICHOLSON AS THIRD HOUSEBUILDER AT RUGBY

ANNOUNCES SALE OF HERNE BAY SUPERSTORE, LET TO SAINSBURY'S

Urban&Civic plc announces that contracts have been entered into with Crest Nicholson Holdings plc on a third parcel of infrastructure land at RadioStation Rugby, Warwickshire, owned jointly with Aviva Investors, following agreements with Davidsons Homes and Morris Homes earlier this year. The 12.5 acre land parcel has consent for up to 205 residential plots and will be developed under licence.

Urban&Civic and Aviva Investors have now contracted on 625 plots across 45 developable acres at Rugby. Crest Nicholson are expected to commence construction in early summer 2017.‎ ‎

The Company also announces the exchange of an unconditional contract with Invesco for the disposal of its foodstore on the outskirts of Herne Bay, Kent, which has been let but not yet occupied by Sainsbury's. The sales price represents a £3.3 million premium to EPRA value.

The Company is announcing Full Year results on 2 December 2016.

Ends

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About Urban&Civic plc

Urban&Civic plc is a property development and investment company listed on the London Stock Exchange's main market (UANC). The Group was formed through the reverse takeover of AIM‐listed commercial property developer Terrace Hill by unlisted strategic residential land company Urban&Civic in May 2014. The takeover was undertaken in parallel with a capital raise of £170m, creating a management team and board with an outstanding track record and the ambition to grow a new "Best in Class" UK real estate business.

Urban&Civic is led by Nigel Hugill and Robin Butler, who co‐founded the business in 2009 having previously led major London regeneration projects such as the White City shopping centre, Stratford City, Paddington Basin and Elephant and Castle.

Urban&Civic has a dual focus of large scale strategic sites and bespoke commercial projects.

Commercial development and investment assets are focused on bespoke, predominantly mixed use schemes in dynamic cities and towns as well as key growth locations. These include the current hotel development directly connected to Stansted airport and the proposed redevelopment of Princess Street, Manchester and the Renaissance Hotel at Deansgate, Manchester. 

From a strategic land perspective, Urban&Civic is taking forward over 3,000 acres of land across four sites located close to Cambridge, Huntingdon, Newark and Rugby delivering more than 20,000 new homes.