Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMorgan Sindall Group Regulatory News (MGNS)

Share Price Information for Morgan Sindall Group (MGNS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,565.00
Bid: 2,575.00
Ask: 2,585.00
Change: -20.00 (-0.77%)
Spread: 10.00 (0.388%)
Open: 2,590.00
High: 2,590.00
Low: 2,560.00
Prev. Close: 2,585.00
MGNS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Morgan Sindall sells medical property investments

23 Jul 2012 07:00

RNS Number : 2032I
Morgan Sindall Group PLC
23 July 2012
 



 

23 July 2012

Morgan Sindall Group plc

Morgan Sindall sells medical properties investments for £24m

 

Morgan Sindall Group plc today announces that its Investments division, Morgan Sindall Investments Limited ('MSIL'), has sold its NHS LIFT and medical properties investment interests in Community Solutions Investment Partners Limited ('CSIP') and CSPC 3PD Limited ('CSPC 3PD') and has acquired the 50% shareholding in Community Solutions Management Services Limited ('CSMS') held by its joint-venture partner, Barclays European Infrastructure Fund II LP ('BEIF II'). The total consideration received by the Company is £23.9m.

MSIL has sold its shares in CSIP to Equitix Healthcare 2 Limited ('Equitix') and its shares in CSPC 3PD to MedicX Properties VII Limited ('MedicX'), a subsidiary of MedicX Fund Limited.

The cash consideration received on completion is above the directors' current valuation for the investments and represents a valuation discount rate on the future cash flows within the Group's range for such rates of 7-9%. For the year ended 31 December 2011, the investments contributed £1.2m in operating profit and had a book value of £11.7m.

The disposals are in line with the Group's strategy of realising investments as they mature, in order to redeploy capital into new projects. The Group continues to see investment potential within the health sector and will retain an interest in CSIP providing the opportunity to invest jointly with Equitix in new developments created by CSIP.

Following the transaction, MSIL will wholly own CSMS, which will continue to provide the management services to CSIP's investments under existing management service agreements.

Paul Smith, Chief Executive, commented "These transactions enable the Group to recycle its capital into other developing markets and investment opportunities, whilst at the same time providing the opportunity to work with Equitix on new healthcare developments in the future."

END

 

NOTES TO EDITORS:

 

About Community Solutions Investment Partners Limited ('CSIP')

CSIP is an active investor in community based health, social and local authority services; providing development solutions in partnership with NHS Primary Care Trusts, Local Authorities, independent primary care contractors and other community stakeholders. CSIP is currently the private sector partner in 8 NHS LIFT areas and has developed a portfolio of 36 buildings extending to circa 75,000 sqm since its creation in 2002. It was a 50/50 joint venture between MSIL and BEIF II, which has also sold its interest to Equitix..

 

 

About CSPC 3PD Limited

CSPC 3PD Limited provides specialist property development and management services to Primary Care Trusts and General Practitioners. It holds a property portfolio comprising 31 mainly purpose built health centres across the UK. It was a 50/50 joint venture between MSIL and BEIF II, which has also sold its interest to Medicx.

 

About NHS Lift

The NHS LIFT (Local Improvement Finance Trust) was launched in 2000 by the Department of Health as a means of generating rapid investment and improvement in the primary and community care estate in England.

 

About Morgan Sindall Investment Limited

Morgan Sindall Investments Limited provides project funding and investment expertise for public sector projects and acts as a facilitator for projects involving other Morgan Sindall Group divisions as delivery partners.

 

About Morgan Sindall Group

Morgan Sindall Group plc is a leading UK construction and regeneration group with revenue of over £2 billion and which operates through five divisions of construction and infrastructure, affordable housing, fit out, urban regeneration and investments.

 

ENQUIRIES:

 

Morgan Sindall Group plc Tel: 020 7307 9200

Paul Smith, Chief Executive

David Mulligan, Finance Director

 

Brunswick Tel: 0207 404 5959

Nick Cosgrove

Alison Kay

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DISGMGZNVGNGZZM
Date   Source Headline
29th Jul 201611:19 amRNSTotal Voting Rights
27th Jul 20169:28 amRNSHolding(s) in Company
25th Jul 20168:18 amRNSHolding(s) in Company
14th Jul 20168:49 amRNSHolding(s) in Company
8th Jul 201612:02 pmRNSPrice Monitoring Extension
30th Jun 20164:55 pmRNSDirector/PDMR Shareholding
30th Jun 20163:58 pmRNSTotal Voting Rights
29th Jun 20164:48 pmRNSDirector/PDMR Shareholding
22nd Jun 201611:22 amRNSHolding(s) in Company
14th Jun 20167:00 amRNSChange in Reporting Segments
31st May 201611:26 amRNSTotal Voting Rights
5th May 20164:03 pmRNSResult of AGM
5th May 20163:26 pmRNSResult of AGM
5th May 20167:00 amRNSAGM Trading Update
29th Apr 20161:04 pmRNSTotal Voting Rights
18th Apr 201610:13 amRNSBlock listing Interim Review
6th Apr 20161:25 pmRNSHolding(s) in Company
6th Apr 20168:40 amRNSDirector/PDMR Shareholding
31st Mar 20161:59 pmRNSTotal Voting Rights
24th Mar 201612:02 pmRNSAnnual Financial Report
3rd Mar 20164:30 pmRNSDirector/PDMR Shareholding
1st Mar 20169:24 amRNSTotal Voting Rights
26th Feb 20161:05 pmRNSDirector/PDMR Shareholding
23rd Feb 201612:16 pmRNSDividend Timetable and Home Member State
23rd Feb 20167:00 amRNSResults for the Full Year ended 31 December 2015
29th Jan 201612:01 pmRNSTotal Voting Rights
19th Jan 20161:52 pmRNSDirector Declaration
1st Dec 20151:40 pmRNSHolding(s) in Company
1st Dec 201511:52 amRNSTotal Voting Rights
10th Nov 201510:15 amRNSHolding(s) in Company
9th Nov 201510:30 amRNSDirectorate Change
2nd Nov 20157:00 amRNSTrading Update
30th Oct 20159:40 amRNSTotal Voting Rights
19th Oct 20159:50 amRNSBlocklisting Interim Review
25th Sep 201512:38 pmRNSDirector/PDMR Shareholding
14th Sep 20155:13 pmRNSHolding(s) in Company
1st Sep 20158:54 amRNSTotal Voting Rights
24th Aug 20157:18 amRNSMorgan Sindall in JV for Thames Tideway Tunnel
5th Aug 20154:45 pmRNSDirector/PDMR Shareholding
4th Aug 20157:00 amRNSResults for the Half Year Ended 30 June 2015
21st Jul 20159:49 amRNSHolding(s) in Company
30th Jun 201512:38 pmRNSTotal Voting Rights
26th Jun 20151:01 pmRNSDirector Declaration
19th Jun 20159:10 amRNSHolding(s) in Company
29th May 20154:32 pmRNSTotal Voting Rights
19th May 201512:38 pmRNSDirector/PDMR Shareholding
13th May 20159:22 amRNSDirector/PDMR Shareholding
7th May 20151:20 pmRNSResult of AGM
7th May 20157:00 amRNSAGM Trading Update
1st May 20159:35 amRNSTotal Voting Rights

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.