U+I Group has said it has realised £4.9m of profit from the disposal of projects in Maidstone and Kent in line with previous guidance.
It has sold the second phase of its £65m residential-led regeneration of a brownfield site at the gateway to Maidstone town centre to a regional housebuilder. The site comprises 310 homes.
It has also exchanged contracts for its £70m mixed-use regeneration project in Kent. The project sits on a well-located, derelict, six-acre site. The project comprises a number of elements including residential, leisure and retail, and contracts have been exchanged for the sale of the whole site.
Matthew Weiner, chief executive said: “Today’s announcement underpins a core part of our strategy – securing overlooked sites in well-connected towns in the London city region where we are able to unlock long-term socio-economic value for communities and a strong return for our shareholders. Working closely with the council and the community, we have carefully designed and planned regeneration projects that will help to stimulate growth, provide new jobs homes and investment.”
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