Party time as U+I celebrates office launch at iconic Mayfield Depot
Regeneration specialist and property developer U+I has opened its new office at the iconic Mayfield Depot near Manchester’s Piccadilly Station by throwing a big party.
The company has launched office in the depot courtyard from where it will lead the £850m project to transform the 24-acre site into a “thriving new city district.”.
The company says it is now actively seeking further development, regeneration and investment opportunities across Greater Manchester.
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 opening of the new office was celebrated at a launch event last night (Tuesday, October 10) at the Mayfield Depot attended by chief executive Matthew Weiner, deputy chief executive Richard Upton and company chairman Peter Williams. Manchester City Council leader Sir Richard Leese was guest of honour.
The Manchester 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.
Weiner told guests: “We have been active in Manchester for many years but our ambitions underwent a step-change 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.”
The company was formally appointed as the development partner for Mayfield last December, working with Manchester City Council, Transport for Greater Manchester and LCR .
The long-term vision for Mayfield includes 1,300 homes, 807,000sq ft of office space, a 350-bedroom hotel, retail and leisure facilities and a new city park.
Leese said: “Manchester’s growth aspirations rely on energetic, creative businesses which share our vision for the city and which have the expertise and resource to deliver transformational projects.
“The city and its partners appointed U+I for the Mayfield project because the company presented a compelling vision of what an inclusive, vibrant new city district might look like and demonstrated that they could deliver on that vision.”
Heather added: “We are absolutely focused on delivering a stunning new urban district at Mayfield but equally believe there are other opportunities where our unique approach to regeneration can pay dividends for the city. It’s a truly exciting time to be working and doing business here.”
