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UAI says Deptford completion realises profits

15 March 2016 09:16

U and I Group said that The Deptford Project has reached practical completion, realising GBP4.0m of profit, in line with expectations.

The completion of this Public Private Partnership project has transformed a formerly vacant 2-acre site adjacent to Deptford train station into a new mixed-use community delivering 132 homes, 11,000 sq. ft. of commercial and retail space and new public realm that has provided a catalyst for the growth of Deptford High Street.

It said 121 of the residential units were pre-sold to IP Global ahead of construction commencing, 8 affordable units were sold to Peabody to manage and the remaining 3 units have been sold to private individuals.

As part of its evolved investment strategy, U+I has retained the ground floor commercial and retail element of the development which has significant potential for value growth, within its investment portfolio.

It added that 70% of this space is now exchanged or under offer ahead of the new market and retail units opening this Summer.

At 9:16am: (LON:UAI) U And I Group Plc share price was +2.88p at 190.38p

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