NAV rises as U+I eyes pipeline projects in London and South

U+I Cambridge Water Recycling Centre

Regeneration specialist U+I has reported a year-on-year rise of 6% in net asset value (NAV) to 284p in half-year results alongside announcing plans to invest in three new pipeline projects alongside a capital partner.

U+I results show the group “on track” to deliver £45-50m of development and trading gains in 2019, with the developer currently working on a £3.5bn GDV mixed-use scheme at Cambridge Northern Fringe East and in exclusive negotiations on a new private-public partnership project in London.

Alongside this, U+I has appointed advisors to find capital partners to fund “three major pipeline projects” between now and the end of the year. Chief executive Matthew Weiner also expects imminent progress on a mixed-use scheme having secured resolution to grant planning at Kensington Church Street during the period.

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