22 Dec 2017 07:00
22 December 2017
U and I Group PLC
U+I lets 94% of 12 Hammersmith Grove
In partnership with Aberdeen Standard Investments, U+I (LSE:UAI), the specialist regeneration developer and investor, announces that it has let 94% of office space at 12 Hammersmith Grove.
Discussions are underway with Aberdeen Standard on the balancing payment calculation. We remain on track to deliver our projected gains of £9-11m for the project and we will provide a further update once this has been finalised.
Existing tenants Perform Media Services Limited have leased the entire 5th floor and join WeWork who let 32% of the office accommodation in August 2017. They add to a growing number of global brands including All Nippon Airways, Medidata Solutions and Creative Artists Agency attracted by the central location and quality of the offices.
Matthew Weiner, Chief Executive of U and I Group, said:
"We are delighted to have seen such strong demand for office space within 12 Hammersmith Grove, reflected in reaching this 90% lettings milestone. The remaining 6% is in solicitor's hands. These gains build on the disposal of Blackhorse Road, announced on 20 December. We remain on track to realise profits in line with our FY18 guidance and will continue to keep shareholders updated on our progress."
ENDS
For further information, please contact:
U and I Group PLC
Nicola Krafft
+44 20 7828 4777
ir@uandiplc.com
Camarco (Financial PR Adviser)
Geoffrey Pelham-Lane / Tom Huddart
+44 (0) 20 3757 4985/4996
uandi@camarco.co.uk
About U + I
U+I is a specialist regeneration developer and investor.
With a £6bn portfolio of complex, mixed-use, community-focused regeneration projects including a £200m investment portfolio, we are unlocking urban sites bristling with potential in the London, Manchester and Dublin city regions. We exist to create long-term socioeconomic 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