Morgan Sindall Group Regulatory News (MGNS)

30 Jan 2006 07:01

Morgan Sindall PLC30 January 2006 Morgan Sindall plc("Morgan Sindall") The Renaissance consortium, led by Morgan Sindall affordable housing providerLovell, announced as preferred partner for Manchester regeneration scheme Manchester City Council has announced that the Renaissance consortium, led byaffordable housing provider, Lovell, is the preferred partner for theredevelopment of Miles Platting in East Manchester which will transform a 107hectare (264 acre) area. The regeneration scheme will see the refurbishment of1,600 council properties and the construction of over 1,000 family houses andapartments. Financed through a Private Finance Initiative (PFI) and with public money wellin excess of £100 million, building works will begin in early 2007 with a fiveyear comprehensive refurbishment programme. Construction of new build homes willbegin in 2008. It is estimated that the new build housing scheme will takeapproximately eight years to complete. This programme of refurbishment and new build is potentially worth up to £200million for Lovell over the period of the redevelopment. The Renaissance consortium comprises Lovell in partnership with Family HousingAssociation (Manchester) Ltd, part of the Adactus Housing Group, and Mill GroupLimited. Paul Smith, Chief Executive of Morgan Sindall said: "The Miles Platting scheme in East Manchester is a terrifically excitingopportunity and we are delighted to lead the preferred partner, the Renaissanceconsortium. This project will make a dramatic difference to the Miles Plattingarea." 30 January 2006 Enquiries: Morgan Sindall plc Tel: 020 7307 9200Paul Smith, Chief ExecutiveDavid Mulligan, Finance Director College Hill Tel: 020 7457 2020Alex WaltersMatthew Smallwood This information is provided by RNS The company news service from the London Stock Exchange