Business
Forward funding secured for £185m New Victoria
Forward funding secured for £185m New Victoria.
About this update from Morgan Sindall Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 0829U\n Morgan Sindall Group PLC\n 27 July 2020\n \n \n \n \n 27 July 2020\n \n \n Morgan Sindall Group plc\n \n Forward funding secured for first phase of £185m New Victoria, Manchester development\n \n \n \n \n Morgan Sindall Group plc, the UK construction and regeneration group, today announces that its Urban Regeneration division has agreed deals to commence with the first phase of its £185m 'New Victoria' scheme in Manchester city centre. New Victoria is being delivered in partnership with Network Rail with support from Manchester City Council and Homes England.\n \n \n Adjacent to Manchester Victoria train station, the first phase of the scheme is for 450,000 sq ft of residential development, with construction expected to complete in 2023.\n \n \n \n \n \n The New Victoria development will provide 520 new homes over two, 20 and 25-storey buildings, including 178 one-bed, 286 two-bed and 56 three-bed apartments on the site, which is being purchased from Network Rail.\n \n \n \n \n \n Proposals are also underway to bring forward the second phase of the wider New Victoria scheme which will include a 150,000 sq ft Grade A eight-storey office building. \n \n \n John Morgan, Chief Executive of Morgan Sindall Group, said:\n \n \n \"We are pleased to have agreed our second major forward funded deal in recent weeks, which further reinforces our regeneration strategy.\n \n \n \"We look forward to working with our partners to deliver a transformational scheme on an underutilised site in the heart of Manchester's city centre\".\n \n \n \n \n \n \n \n Morgan Sindall Group plc\n \n \n Tel: 020 7307 9200\n \n \n \n \n \n John Morgan, Chief Executive\n Steve Crummett, Finance Director\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Instinctif Partners\n \n \n Tel: 020 7457 2020\n \n \n \n \n \n \n \n \n Matthew Smallwood\n \n \n Rosie Driscoll\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com...