U And I Group (UAI)

Sector:

Real Estate

Index:

FTSE Small Cap

76.00p
   
  • Change Today:
    -3.00p
  • 52 Week High: 188.80
  • 52 Week Low: 69.40
  • Currency: UK Pounds
  • Shares Issued: 125.43m
  • Volume: 478,599
  • Market Cap: £95.33m

U+I sells investments in Harwell Campus, Gemini Building

By Josh White

Date: Thursday 02 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Specialist regeneration developer and investor U+I has exchanged on the sale of its holding in Harwell Campus, the science and technology campus in Oxfordshire, to Brookfield Capital Partners on behalf of Brookfield Strategic Real Estate Partners III, it announced on Thursday.
The London-listed firm said the transaction was for an initial cash payment of ?28m, and deferred payments of ?13.74m.

It said it would deliver development and trading gains to U+I of around ?11m, subject to formal audit.

The company said it was expecting those gains to be in the 2020 financial year, subject to discussions with auditors.

U+I said it had also sold its wholly-owned adjoining Gemini Building to Brookfield for ?7.5m, which was marginally above book value, giving an aggregate net cash receipt of around ?44m.

The board said the disposal of the company's share of the joint venture in Harwell followed an "extensive" marketing and due diligence process, which saw "strong" interest from a number of international investors, attracted by the potential of the "internationally-renowned" 700-acre science campus, which it noted was grounded in more than ?2 billion of scientific infrastructure.

It said the additional sale of the Gemini Building, held in the investment portfolio, was "opportunistic" and reflected a fair value for the asset, while providing additional cash to the business.

"Brookfield has a trusted reputation for nurturing and growing assets in the real estate sector," said chief executive officer Matthew Weiner.

"We felt they were the right choice to drive the next stage of growth at this internationally-renowned innovation and science campus in the Oxford corridor, giving Harwell the capital commitment it needs to unlock its potential for the future as a hub for pioneering research.

"With such strong demand for science and research led facilities, it was the right time for U+I to sell its share in the joint venture, which also provides a significant cash injection that further strengthens U+I's balance sheet."

U+I said it would provide an unaudited post-close trading update on 15 April.

At 1610 BST, shares in U+I Group were up 9.37% at 86.4p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

U And I Group Market Data

Currency UK Pounds
Share Price 76.00p
Change Today -3.00p
% Change -3.80 %
52 Week High 188.80
52 Week Low 69.40
Volume 478,599
Shares Issued 125.43m
Market Cap £95.33m

U And I Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
38.34% above the market average38.34% above the market average38.34% above the market average38.34% above the market average38.34% above the market average
32.14% above the sector average32.14% above the sector average32.14% above the sector average32.14% above the sector average32.14% above the sector average
Price Trend
81.39% below the market average81.39% below the market average81.39% below the market average81.39% below the market average81.39% below the market average
89.29% below the sector average89.29% below the sector average89.29% below the sector average89.29% below the sector average89.29% below the sector average
Income Not Available
Growth
74.85% below the market average74.85% below the market average74.85% below the market average74.85% below the market average74.85% below the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

U And I Group Dividends

  Latest Previous
  Interim Final
Ex-Div 28-Nov-19 08-Aug-19
Paid 20-Dec-19 06-Sep-19
Amount 2.40p 3.50p

Trades for 08-Jul-2020

Time Volume / Share Price
16:35 5,640 @ 76.00p
15:29 60,000 @ 77.00p
16:29 1 @ 76.00p
16:13 10,000 @ 75.00p
16:10 220 @ 76.00p

U And I Group Key Personnel

CEO Matthew Weiner

Top of Page