Morgan Sindall Group Regulatory News (MGNS)

23 Mar 2007 12:57

Morgan Sindall PLC23 March 2007 Morgan Sindall plc("Morgan Sindall") Miles Platting £160m PFI signed The Renaissance Consortium, led by Morgan Sindall's national affordable housingprovider Lovell, in partnership with Adactus Housing Association and Investorsin the Community, has signed contracts today with Manchester City Council toredevelop the Miles Platting neighbourhood under a Private Finance Initiative.Through the PFI, £160 million of public money will be invested, along with asimilar amount of private sector funding. The contract signals the start of a five year, comprehensive modernisation andimprovement programme for 1,520 council houses and apartments across a 264-acrearea of Manchester, two miles east of the city centre. In addition to the refurbishment of existing homes, the regeneration schemeincludes the creation of 1,080 new-build family houses and apartments. Lovell isexpected to start work on the new-build properties in 2008. Paul Smith, Chief Executive of Morgan Sindall, said: "We are delighted with today's news. This is the first major social housing PFIfor the Group and Lovell, which has a strong track record for deliveringlarge-scale housing regeneration programmes." 23 March 2007Enquiries: Morgan Sindall plc Tel: 020 7307 9200Paul Smith, Chief ExecutiveDavid Mulligan, Finance Director College Hill Tel: 020 7457 2020Matthew Smallwood Editor's notes: Morgan Sindall announced on 30 January 2006 that the Renaissance Consortium waspreferred partner for the Miles Platting redevelopment in East Manchester. Morgan Sindall plc, the construction group, has four specialist divisions offit-out, construction, infrastructure services and affordable housing. Lovell, Britain's leading provider of affordable housing, has offices inBirmingham, Cambridge, Cardiff, Glasgow, Leatherhead, Leeds, London, Manchester,Merseyside, Newcastle, Norwich, Nottingham, Stockton-on-Tees and Tamworth. This information is provided by RNS The company news service from the London Stock Exchange