Morgan Sindall Group Regulatory News (MGNS)

24 Apr 2009 07:00



Morgan Sindall plc

24 April 2009

Morgan Sindall secures £300 million DONCASTER DEVELOPMENT 

Morgan Sindall plc, the construction and regeneration group, today announces it has secured a £300 million development agreement to create a Civic and Cultural Quarter (CCQ) in Doncaster town centre.

The Group's urban regeneration business, Muse Developments, has signed a contract with Doncaster Council to regenerate Doncaster's Waterdale area.

The first phase of the development, including a new performance venue, is conditional upon obtaining grant funding from Yorkshire Forward, the regional development agency. A decision on funding is expected in August 2009.

Preparatory work on the site is set to commence in May 2009, with construction due to begin in earnest by the end of the year. The first phase is expected to be complete by early 2012.

The agreement follows two other contracts secured by Muse Developments within the past six months, in Swindon and Blackpool, which have a total value of £570 million.

Paul Smith, Chief Executive of Morgan Sindall plc, said:

"This is the third large-scale agreement Muse has announced recently and demonstrates its ability to continue to win long-term regeneration partnership projects despite a challenging environment in the urban regeneration market.

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Editor's notes:

Morgan Sindall plc is a top UK construction and regeneration group which operates through five specialist divisions of fit out, construction, infrastructure services, affordable housing and urban regeneration.

Muse Developments delivers large scale mixed use urban regeneration projects through development agreements in partnership with public and private landowners. The business operates in the office, industrial, residential, leisure and ancillary retail sectors.

ENQUIRIES:

Morgan Sindall plc Tel: 020 7307 9200

Paul Smith, Chief Executive

David Mulligan, Finance Director

Blythe Weigh Communications Tel: 020 7138 3204

Tim Blythe Mobile: 07816 924626

Paul Weigh Mobile: 07989 129658