Urban&Civic NAV surges 9.6%

Urban&Civic has reported an increase in net asset value of 9.6% in its annual results for the year to 30 September. The developer's EPRA NAV rose to £527.5m, with EPRA NAV per share up 8.6% to 360.3p. The growth marks five years of consistent NAV rises. The £46.3m uplift was largely due to Urban&Civic securing planning consent for 6,500 homes at Waterbeach near Cambridge. This added £24.6m to the valuation. The developer has interests in a total of 32,000 consented or allocated plots, with an additional 19,000 in the pipeline. This is consistent with the levels a year ago.