The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksUAI.L Regulatory News (UAI)

  • There is currently no data for UAI

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

U+I, joint venture with Colony NorthStar Inc.

18 Jan 2017 07:00

RNS Number : 3921U
U and I Group PLC
18 January 2017
 

 

 

18 January 2017

 

U+I and Colony NorthStar partner to establish €300 million office repositioning platform

 

U and I Group PLC ("U+I", LSE: UAI), the mixed-use property regeneration specialist, in partnership with a controlled affiliate of Colony NorthStar Inc. ("Colony NorthStar", NYSE: CLNS), a leading global real estate and investment management firm, are pleased to announce the creation of a specialist, joint venture platform to invest in the London City Region, Manchester and Dublin office markets.

 

The partners will each own 50% of the joint venture, adding value to underperforming office buildings through improved planning, development, refurbishment and asset management. The partners have both made substantial resource and capital commitments to this new platform, which is expected to deploy approximately €300 million over the next investment period.

 

U+I has made an initial capital contribution of €14 million and seeded the joint venture with two assets, The Record Store, at The Old Vinyl Factory in London and Donnybrook House in Dublin. The Record Store is being repositioned to create 60,000 sq. ft. of creative office space as part of U+I's wider transformation of the 17-acre site; Donnybrook House is a 72,000 sq. ft. vacant building in a prominent location in central Dublin which U+I will refurbish to meet the demands of creative and tech focussed businesses. Most recently Ballymoss House, a 67,000 sq. ft. third generation office building, has been acquired in Dublin for €13.5 million, the property will be immediately refurbished.

 

Matthew Weiner, Chief Executive of U+I, said: "We're delighted to be partnering again with Colony NorthStar. The specialist platform will target opportunities to develop high quality office space where there are limited options for new build. There is currently a shortage of offices across U+I's core locations which provide the right space or environment to satisfy the needs of today's modern enterprises. Office refurbishment is one of U+I's core skills, this platform will allow us to deliver workplaces tailored for the 21st century and create value through our expertise in planning, development, refurbishment and asset management."

 

Stefan Jaeger, Managing Director at Colony NorthStar said: "We are excited to broaden our existing relationship with U+I, who we regard as best-in-class partners, to this strategic specialist platform. With a high-quality portfolio of seed assets and a strong pipeline in markets with attractive fundamentals, we look forward to creating a preeminent portfolio of Grade A office space and leveraging Colony NorthStar's expertise in the creation of scalable platforms."

 

 

ENDS

 

 

U and I Group plc

Lucy Grimble, Head of Investor Relations

ir@uandiplc.com +44 20 7828 4777

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
STRGGUGGGUPMGAM
Date   Source Headline
14th Dec 20213:38 pmRNSHolding(s) in Company
14th Dec 20213:30 pmRNSForm 8.3 - UAI LN
14th Dec 20213:20 pmBUSForm 8.3 - U & I GROUP PLC AMENDMENT
14th Dec 20212:27 pmBUSFORM 8.3 - U & I GROUP PLC
14th Dec 20211:59 pmRNSScheme of Arrangement Becomes Effective
14th Dec 202111:55 amRNSForm 8.5 (EPT/RI) - U and I Group plc
14th Dec 202111:18 amRNSForm 8.3 - U and I Group Plc
14th Dec 20219:58 amRNSForm 8.5 (EPT/RI) - U and I Group plc
13th Dec 20211:26 pmPRNForm 8.3 - U and I Group Plc
13th Dec 202112:22 pmBUSFORM 8.3 - U & I GROUP PLC
13th Dec 202111:07 amRNSCourt Sanction of the Scheme of Arrangement
13th Dec 20219:04 amRNSForm 8.5 (EPT/RI) - U and I Group Plc
10th Dec 20215:13 pmBUSForm 8.3 - U & I GROUP PLC - Amendment
10th Dec 20212:03 pmBUSForm 8.3 - U & I GROUP PLC
10th Dec 202112:38 pmPRNForm 8.3 - U and I Group Plc
10th Dec 202110:34 amRNSForm 8.5 (EPT/RI) - U and I Group plc
10th Dec 20219:09 amRNSHolding(s) in Company
9th Dec 20213:30 pmRNSForm 8.3 - UAI LN
9th Dec 20213:20 pmRNSForm 8.3 - U and I Group plc
9th Dec 20212:52 pmRNSForm 8.3 - U and I Group PLC
9th Dec 20212:44 pmRNSHolding(s) in Company
9th Dec 20212:00 pmRNSForm 8.3 - U and I Group PLC
9th Dec 202112:09 pmPRNForm 8.3 - U and I Group Plc
9th Dec 202112:00 pmRNSForm 8.5 (EPT/RI) - U and I Group Plc
9th Dec 202111:54 amBUSForm 8.3 - U & I GROUP PLC
9th Dec 202110:53 amRNSForm 8.5 (EPT/RI) - U and I Group plc
8th Dec 20213:30 pmRNSForm 8.3 - UAI LN
8th Dec 20212:55 pmRNSForm 8.3 - U and I Group PLC
8th Dec 202112:52 pmPRNForm 8.3 - U and I Group Plc
8th Dec 202112:00 pmRNSForm 8.5 (EPT/RI) - U and I Group Plc
8th Dec 202112:00 pmRNSForm 8.3 - [U and I Group Plc]
8th Dec 202111:41 amRNSHolding(s) in Company
8th Dec 202111:39 amBUSForm 8.3 - U & I GROUP PLC
8th Dec 202111:38 amRNSForm 8.3 - U & I Group
8th Dec 202111:06 amRNSForm 8.5 (EPT/RI) - U and I Group plc
7th Dec 20215:30 pmRNSu and i group
7th Dec 20212:04 pmRNSResults of Court Meeting and General Meeting
7th Dec 20211:54 pmBUSFORM 8.3 - U AND I GROUP PLC
7th Dec 202112:12 pmPRNForm 8.3 - U and I Group Plc
7th Dec 202111:55 amRNSForm 8.5 (EPT/RI) - U and I Group plc
6th Dec 202111:42 amRNSForm 8.5 (EPT/RI) - U and I Group plc
6th Dec 202111:30 amBUSForm 8.3 - U and I Group plc
3rd Dec 20213:10 pmRNSForm 8.3 - U and I Group plc
3rd Dec 202112:33 pmBUSForm 8.3 - U and I Group plc
3rd Dec 202111:36 amRNSForm 8.5 (EPT/RI) - U and I Group plc Amendment
3rd Dec 202111:29 amRNSForm 8.5 (EPT/RI) - U and I Group plc
2nd Dec 202112:28 pmBUSForm 8.3 - U & I GROUP PLC
2nd Dec 202112:15 pmPRNForm 8.3 - U and I Group Plc
2nd Dec 202112:00 pmRNSForm 8.5 (EPT/RI) - U and I Group Plc
2nd Dec 202111:48 amRNSForm 8.5 (EPT/RI) - U and I Group plc Amendment

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.