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U+I brings forward £180m regeneration plans

U I Ashford Street Scene

Developer U+I has brought forward plans for two regeneration schemes in Kent totalling £180m.

The company, which was formed following a merger between Development Securities and Cathedral in July last year, wants to develop 800 homes across two sites in Ashford.

The first site is being delivered in partnership with Canterbury-based developer Quinn Estates, with plans for 660 homes; 400 of these will be delivered by property group Neighbour as rental units.

U+I has also exchanged contracts for a second site, which will include around 200 homes and a new hotel, subject to planning.

Ashford Borough Council’s Gerry Clarkson said: “We welcome more proposals coming forward from the private sector, who clearly see the attractiveness of investing in Ashford.

“Of course, the council will need to carefully examine any application when it comes forward and ensure the appropriate planning process is followed, as these two important sites must play a huge part in bringing added vitality and life to the heart of the town centre and must deliver attractive, high-quality investment.”

U+I deputy CEO Richard Upton said: ”We believe we have the opportunity to create two fantastic mixed-used developments that will bring both job opportunities and high-quality housing to the local area, allowing us to add to the community in Ashford.”

Quinn Estates MD Mark Quinn added: “This scheme will deliver massive economic, social, community and environmental benefits to the local area and with a deal signed with the PRS provider Neighbour, we are in a position to start building quickly so that the benefits can be delivered.”

U I Ashford Victoria Way

U I Ashford Victoria Way

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