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U and I Group JV sells London project site to Telford Homes for £34M

U and I Group PLC and partner Parkdale Investments Ltd. completed the £34 million sale of a London property to Telford Homes PLC.

The selling joint venture acquired the site in March 2016 and secured planning approval in October for a £130 million mixed-use regeneration project, U and I said in a news release.

According to the buyer, the 3.16-acre Equipment Works site in the London borough of Waltham Forest has planning consent in place for 257 open market homes, 80 affordable homes and 18,830 square feet of flexible commercial space. Telford expects to commence work in autumn 2018 with completion expected in late 2021.