Styles & Wood Group Regulatory News (STY)

10 June 2016

STYLES & WOOD GROUP PLC

("Styles&Wood" or the "Group")

STYLES&WOOD SECURES CONTRACTS WORTH £23M AS DIVERSIFICATION STRATEGY DELIVERS

Integrated property services and project delivery specialist Styles&Wood is pleased to announce it has secured a clutch of contracts worth £23m across the commercial office, healthcare and hospitality sectors, as it continues to strengthen its market position in key growth sectors.

The six projects, which underline the success of the Group's diversification strategy, see Styles&Wood working across more than 127,000 sq ft of commercial office space in Greater Manchester and London; delivering the £3m fit-out and refurbishment of a CARE Fertility treatment clinic in Manchester; and due to deliver the fit-out of two new easyHotels in the North West.

Building on the Group's success in the commercial office sector, Styles&Wood is:

· Delivering a £6.2m, 56,000 sq ft Grade A commercial fit-out at One St Peter's Square in Manchester. The Group's Design and Projects business units are delivering the scheme from concept to fit-out, and the contract marks Styles&Wood's second in the landmark office development, following its appointment to fit-out DLA Piper's suite in 2015;

· Working on the £3m, 45,000 sq ft Grade A fit-out of Dakota House, a three-storey office building located within Concord Business Park in Wythenshawe, which will include a new fully-glazed main entrance curtain wall and feature canopy and the complete renewal of all mechanical and electrical services; and

· Delivering the refurbishment of Irongate House, a 26,000 sq ft office building in the City of London. Irongate is the second major contract the Group has secured with Aviva Investors, following its appointment to deliver the refurbishment of Westminster House in Manchester in September 2015.

To further demonstrate the Group's cross-sector expertise, Styles&Wood is also:

· Delivering the £3m fit-out and refurbishment of a treatment clinic in Manchester for CARE Fertility, the UK's leading independent fertility healthcare provider. Styles&Wood's Projects business unit is undertaking the works to the part Grade II-listed building, to form new clinical and non-clinical areas, as well as carrying out mechanical and electrical installations and other external works to the building façade. The facility remains occupied and in operation, minimising disruption to staff and patients.

Styles&Wood has also seen success in the hospitality sector, having recently been appointed to deliver the fit-out of two new easyHotels in Manchester and Liverpool. This latest contract win will see the Group:

· Deliver the full internal strip-out and refurbishment of a Grade II-listed, five-storey building on Dale Street, Manchester. The project will create 115 hotel rooms, in addition to a modern reception and back of house areas; and

· In Liverpool, Styles&Wood will carry out the full internal strip-out and refurbishment of a vacant six-storey site on Castle Street, creating a 70-room hotel.

Tony Lenehan, CEO of Styles&Wood, commented: "We are delighted with these contract wins, which demonstrate how the Group is leveraging its unique skillset and capabilities to boost growth. The strength of our design and build offer, and in particular our team's track record of delivering projects on time and on budget across a range of sectors, has seen us appointed to a number of high-profile developments across the UK. This is a further endorsement of our diversification strategy, which continues to bear fruit and is enabling the business to support clients across industries as diverse as healthcare and hospitality.

"While we are continuing to win work and expand our portfolio in a variety of markets, the commercial fit-out sector also remains an important source of work for the business. The Manchester market in particular has witnessed a surge in activity in recent months, and as demand for premium space remains high, particularly across the North West, we are expecting this is trend to continue."

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