Landsec completes U+I acquisition, accelerating strategy and adding additional skills to the business
14 December 2021
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.”