RCS - Land Sec. Group PLC - Landsec completes U+I acquisition

Land SecuritiesAnnouncement

14/12/2021 14:45

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RNS Number : 6330V  Land Securities Group PLC  14 December 2021

Land Securities Group PLC ("Landsec")

14 December 2021

Landsec completes U+I acquisition, accelerating strategy and adding additional
skills to the business

 

Landsec has today completed the purchase of regeneration specialist U and I
Group Plc.

 

The acquisition is the latest move to accelerate Landsec's growth strategy
which is focused on three key areas: central London offices, major retail
destinations and mixed-use urban neighbourhoods.

 

Through the acquisition Landsec gains access to a significant pipeline of
mixed-use development schemes, of which two are well-progressed through
planning (Mayfield, Manchester and Morden Wharf, Greenwich Peninsula). A
further scheme at Landmark Court, Southwark adds to Landsec's London Office
portfolio, complementing its existing interests in the borough.

 

Additionally, the acquisition complements Landsec's existing development
capabilities through adding additional skills and experience to the group. The
deal also aligns with Landsec's sustainability goals, including a focus on
developing sustainable communities and creating happy, thriving places where
people want to spend their time.

 

Mark Allan, CEO, Landsec said: "This is an exciting milestone for Landsec, one
that accelerates our strategy, demonstrating our ability to capitalise on our
strengths and create future value for our shareholders. Through acquiring U+I,
we extend our development pipeline meaningfully, and welcome colleagues who
strengthen the skills and expertise in our business. I truly believe that the
combination of Landsec and U+I is compelling. There is an alignment of purpose
between both organisations, focused on the communities we support and the long
term sustainable outcomes we are able to create."

 

Ends

 

 
About Landsec

 

At Landsec, we build and invest in buildings, spaces and partnerships to
create sustainable places, connect communities and realise potential.  We are
one of the largest real estate companies in Europe, with a £11 billion
portfolio of retail, leisure, workspace and residential hubs. Landsec is
shaping a better future by leading our industry on environmental and social
sustainability while delivering value for our shareholders, great experiences
for our guests and positive change for our communities.

 

Find out more at landsec.com

 

Mayfield, Manchester is one of the UK's pre-eminent mixed-use regeneration
projects, and works have already commenced onsite. It is a c. 24 acre site in
Manchester city centre, adjacent to Manchester Piccadilly railway station,
which comprises approximately 2 million sq. ft. of office, retail and leisure
space and 1,500 new homes set around a 6.5 acre public park. This site is
currently owned in

a joint venture with Manchester City Council, Transport for Greater Manchester
and London and Continental Railways.

 

Morden Wharf, Greenwich Peninsula has a conditional development agreement with
Morden College, a charitable trust with significant land holdings on the
Greenwich Peninsula. U+I has achieved a resolution to grant planning consent
for 1,500 new homes, 200,000 sq. ft. of warehouses and 50,000 sq. ft. of
retail across this 19 acre site on the western edge of the Peninsula.

 

Landmark Court is an office-led development site located within walking
distance of London Bridge station and Borough underground station, with
planning permission for 200,000 sq. ft. of offices, retail and workspace and
36 new homes.

 

 

 Please contact:
 Press                     Investors
 Sara Doggett              Edward Thacker
 +44 (0)7834 431258        +44 (0) 7887 825869
 sara.doggett@landsec.com  edward.thacker@landsec.com

 

 

 

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