Styles & Wood Group Regulatory News (STY)

15 December 2015

Styles & Wood Group plc

STYLES & WOOD GROUP APPOINTED TO NATIONAL FRAMEWORK

Styles & Wood Group plc ("Styles & Wood" or the "Group"), the integrated property services and project delivery specialist, is pleased to announce that it has been re-appointed to a framework for a major property refurbishment programme on behalf of TSB Bank plc.

The new programme has seen the number of contractors on the original framework reduced from five to two and will span a five year period. The programme is due to commence in January 2016 with both selected contractors expected to contribute to a similar number of projects across five work streams including property fit out, refurbishment, reconfiguration, ATM installation and new technology in order to enhance the customer experience. Arcadis are acting as lead consultants on the framework.

The framework will involve approximately 200 branches across the United Kingdom and will also include commercial space. Management believe that the programme should contribute £10-15 million of revenue per annum to the Group over its five year life.

Tony Lenehan, Chief Executive of Styles & Wood, said: 

"We are delighted to have secured a place on this revised national framework. We have enjoyed an excellent relationship with TSB Bank and look forward to working closely with them to deliver an exceptional offering to their customers.

Banking remains a significant area of focus and expertise for the Group and we are now providing support services in the retail, office, complex projects and technologies segments for a number of tier one clients."

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Notes to Editors

Styles & Wood provides a fully integrated range of property support services including design, building intelligence, carbon abatement, programmes and project delivery. The business offers clients across retail, banking, commercial, education, healthcare and leisure sectors contracting services to manage and improve the performance of property assets.