U and I boss Richard Upton (pictured) has a 3.4 per cent stake in the group
The boss of property developer U and I is set to scoop more than £6million after Land Securities agreed to buy it for £190million.
Richard Upton has a 3.4 per cent stake in the group he has led since it was formed in 2014, worth £6.3million under the terms of the deal.
U and I specialises in developments with a mix of residential and commercial properties and large open spaces.
Commerical property developer Landsec said it believed these types of sites are going to be more popular after the pandemic – which has spurred what many believe is a permanent trend of working from home for at least some of the week.
A Landsec spokesman said: ‘The Covid-19 pandemic has accelerated the blurring of lines between where people live, work and socialise.’
Landsec’s £9.5billion property portfolio includes the Piccadilly lights and advertising billboards in London.
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