It plans to style the name as U+I. SHareholders will get to vote on the proposal at a general meeting on 5th November 2015.
The board said that the new name “articulates that the business has evolved following the integration of Development Securities and Cathedral Group whilst signalling to the external market that the evolved business has a new approach to meeting the demands of the modern marketplace”.
Or as chief executive Matthew Weiner put it: “This name captures the vision and the values of our evolved business, emerging from our heritage as joint venture partners and showcasing our commitment to being the most respected regeneration company in the UK and Ireland.”
The company also said that it plans to rationalise its portfolio to focus on London, Manchester and Dublin. It is also looking for a partner to get into the private rented housing sector.