Morgan Sindall Group Regulatory News (MGNS)

27 July 2020

Morgan Sindall Group plc

Forward funding secured for first phase of £185m New Victoria, Manchester development

Morgan Sindall Group plc, the UK construction and regeneration group, today announces that its Urban Regeneration division has agreed deals to commence with the first phase of its £185m 'New Victoria' scheme in Manchester city centre. New Victoria is being delivered in partnership with Network Rail with support from Manchester City Council and Homes England.

Adjacent to Manchester Victoria train station, the first phase of the scheme is for 450,000 sq ft of residential development, with construction expected to complete in 2023.

The New Victoria development will provide 520 new homes over two, 20 and 25-storey buildings, including 178 one-bed, 286 two-bed and 56 three-bed apartments on the site, which is being purchased from Network Rail.

Proposals are also underway to bring forward the second phase of the wider New Victoria scheme which will include a 150,000 sq ft Grade A eight-storey office building.

John Morgan, Chief Executive of Morgan Sindall Group, said:

"We are pleased to have agreed our second major forward funded deal in recent weeks, which further reinforces our regeneration strategy.

"We look forward to working with our partners to deliver a transformational scheme on an underutilised site in the heart of Manchester's city centre".