Mayfield Depot developers have arrived in town
U+I WAS FORMALLY APPOINTED AS THE PARTNER FOR THE TRANSFORMATION OF THE PICCADILLY SITE LAST DECEMBER
U+I, the regeneration and development company appointed to lead the transformation of Mayfield Depot, has launched a Manchester office.
The company has established its new office in the Mayfield Depot courtyard, from where it will lead the £850m project to transform an underused 24-acre site next to Piccadilly Station into a new city district.
The company says it is now actively seeking further development, regeneration and investment opportunities across Greater Manchester.
The opening of the new office was celebrated at a launch event at the Mayfield Depot attended by CEO Matthew Weiner, deputy CEO Richard Upton and company chairman Peter Williams. Manchester city council leader Sir Richard Leese was guest of honour.
The new office will be headed by development director James Heather, who joined the company in March.
Heather previously worked with property developer Argent for 17 years, where he was instrumental in the delivery of One St Peter’s Square in Manchester city centre.
Matthew told guests: “We have been active in Manchester for many years but our ambitions underwent a stepchange when we were appointed as the development partner for Mayfield, which we believe is the most exciting single regeneration opportunity this city will deliver for a generation.
“We are now seeking projects across Greater Manchester where we know we can deliver transformative schemes which will act as catalysts for wider regeneration and deliver real social as well as financial value.
“Manchester, along with Dublin and London and the South East, is a strategic focus as a business. It is a city, in our view, which has achieved a huge amount but where so much more can still be done.”
U+I was created in 2014 through the merger of listed property development and investment company Development Securities with regeneration specialist Cathedral Group.
The business, which marks its second birthday next month, has a £6bn development pipeline of complex, mixed-use, community-focused regeneration projects and a £200m investment portfolio.
The company was formally appointed as the development partner for Mayfield last December, working with Manchester city council, Transport for Greater Manchester and LCR.