22 Jun 2020 07:00
22 June 2020
U and I Group PLC
Planning application submitted for £770 million Morden Wharf scheme in Greenwich
U+I (LSE:UAI), the specialist regeneration developer and investor, announces that it has submitted for planning at Morden Wharf, its £770 million GDV scheme on Greenwich Peninsula.
It expects the planning decision at the end of 2020. Development and trading profits are expected to be £15-20 million during the lifespan of the project, with the first gains expected to be delivered in FY2022. Once complete the mixed-use scheme will deliver around 1,500 new homes, hundreds of jobs and more than six acres of high quality public realm, including a landscaped park along the River Thames. The plans could also provide a new permanent boathouse for the Queen's Royal Rowbarge, Gloriana.
Richard Upton, Chief Development Officer at U+I, commented:
"Our planning submission at Morden Wharf is another key milestone for U+I as we prime our pipeline for growth. This riverfront scheme will deliver a distinctive, green, mixed-use neighbourhood, while driving growth and employment and delivering much-needed new homes to the area."
ENDS
For further information, please contact:
U+I
Nicola Krafft
+44 (0) 20 7828 4777
ir@uandiplc.com
Camarco (Financial PR Adviser)
Geoffrey Pelham-Lane / Tom Huddart
+44 (0)20 3757 4985 / 4991
uandi@camarco.co.uk
About U+I
U+I is a specialist regeneration developer and investor.
With a >£11.5 billion portfolio of complex, mixed-use, community-focused regeneration projects including a £147.1 million investment portfolio, we are unlocking urban sites bristling with potential in the London City Region (within one hour's commute from Central London), Manchester and Dublin. We exist to create long-term socio-economic benefit for the communities in which we work, delivering sustainable returns to our shareholders.
To find out more, visit www.uandiplc.com or follow us @uandiplc