Landsec to create new regeneration arm

Landsec is to create a new regeneration-focused business as it pivots further towards mixed-use urban neighbourhoods. The new business will be created by integrating Landsec’s existing regeneration projects and teams with those of regeneration specialist U+I, which Landsec bought for £190m last year. U+I’s projects include Morden Wharf on the Greenwich Peninsula (pictured). Landsec’s teams associated with its projects will also join the new business, which will be led by U+I managing director Mike Hood. Hood will become chief executive, with current U+I CEO Richard Upton stepping down to become a part-time senior adviser to the team. [caption id="attachment_1135952" align="alignright" width="277"] Mike Hood[/caption] Landsec said the new business would fulfil a dual role: “To create value through impactful regeneration and to build a pipeline of product through the development of mixed-use urban neighbourhoods to supply Landsec’s wider portfolio”. Landsec chief executive Mark Allan said: “In buying U+I, we acquired not only a strong development pipeline, but also the skills and experience to help us deliver. Under Mike’s leadership, our regeneration business will have the partnerships, the people and the pipeline to deliver truly great places that create lasting benefits for our stakeholders and the communities in which we operate.” Hood added: “U+I has a long pedigree of delivering sustainable, thoughtful regeneration and creating places where people can live, work and socialise. Today’s announcement marks the next step in our evolution, and we’re excited to be building something that will be truly special in our sector.” To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews Image © Pixelflakes