U and I
On 9 November 2015, property regeneration company U+I was launched following a merger between Development Securities PLC and Cathedral Group.
The new identity was unveiled as the two companies moved to premises at 7A Howick Place in London’s Victoria, designed by Coffey Architects and Ab Rogers Design.
The new name, first announced on 20 Oct 2015 and given shareholder approval at a General Meeting on 5th November 2015, is based on the motto of a pub, The Seawitch, no longer standing, which was ‘Be United and Industrious’. The motto was discovered during research by Development Securities and Cathedral during their joint venture to buy Morden Wharf in March 2012. They felt it perfectly described the collaborative and productive nature of the joint venture and so it became the inspiration for the name U+I.
U+I transforms undervalued and overlooked parts of towns and cities into neighbourhoods and communities. It has a portfolio of mixed-use regeneration projects in London, the south-east, Manchester and Dublin. It is committed to the highest standards of architecture, innovation and ideas to enable long-term, sustainable change, creating places where people and enterprise can thrive.
The focus of the company is on driving shareholder value from a creative approach to placemaking and community building. It specialises in mixed-use regeneration development and public private partnership projects (PPP) with local authorities and other public bodies. PPP schemes in the London boroughs of Bromley, Lewisham, Lambeth and Greenwich and in towns like Lichfield and Sittingbourne provide opportunities for local authorities to deliver economic growth and new public service infrastructure despite the constraints of public spending cuts.
At the time of the merger, U+I had a market capitalisation of c. £300 million.
Chief Executive, Matthew Weiner said: “We now have a stronger team with the depth of knowledge and skills to deliver high quality returns across the business. Using our combined expertise we have put in place a number of strategic initiatives as we seek to enhance our position as the UK’s most respected mixed-use regeneration company. Leading the integrated teams in our new roles, Richard Upton and I aim to be the inspiration of U+I in that combined, we are stronger and more focused in all we do.”
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