Landsec, one of the leading property companies in the UK, has recently announced its acquisition of urban regeneration specialist U+I for approximately £190 million. This strategic move will not only provide Landsec with access to a new pipeline of mixed-use regeneration projects in London and Manchester but also add significant value to its existing portfolio.

The acquisition of U+I will allow Landsec to leverage the expertise of the company in front-end development and take advantage of its impressive portfolio of regeneration projects that are in need of funding. By combining U+I’s capabilities with Landsec’s own development expertise and strong financial position, Landsec aims to accelerate the development of three key sites.

One of these sites is the Manchester Mayfield scheme, which is already underway. This ambitious project seeks to deliver 2 million square feet of office, retail, and leisure space, as well as 1,500 new homes, all centered around a 6.5-acre public park. Landsec’s involvement in this project is expected to drive its progress and contribute to its success.

Another project that Landsec will take charge of is the Morden Wharf development in Greenwich Peninsula. This development has already obtained planning consent for 250,000 square feet of warehouses and retail space, along with 1,500 homes. Landsec’s acquisition of U+I will also give the company control over Landmark Court, a joint venture with Transport for London in Southwark. This project aims to deliver a 200,000 square feet retail and office complex.

The acquisition of U+I aligns with Landsec’s overall strategy of recycling investments in order to generate higher returns and drive growth. The company recognizes the potential in urban development opportunities in London and other major regional cities. Through the integration of U+I into its operations, Landsec aims to strengthen its front-end development capabilities and enhance its placemaking skills.

Mark Allan, the CEO of Landsec, emphasizes the importance of developing world-class mixed-use communities that inspire and create opportunities, especially in the current climate. He believes that the combination of Landsec and U+I is compelling and will significantly enhance the company’s ability to execute its strategy. The deal is expected to be finalized by December 2021 or early 2022.

Landsec’s acquisition of U+I demonstrates its commitment to expanding its portfolio and seizing opportunities in the urban regeneration sector. With a strong pipeline of projects now in its possession, Landsec is poised to make a lasting impact on the built environment in London and Manchester.

For more information on Landsec and its acquisition of U+I, click here.

To learn more about the Manchester Mayfield scheme and its significance, click here.