Morgan Sindall PLC
23 March 2007
Morgan Sindall plc
('Morgan Sindall')
Miles Platting £160m PFI signed
The Renaissance Consortium, led by Morgan Sindall's national affordable housing
provider Lovell, in partnership with Adactus Housing Association and Investors
in the Community, has signed contracts today with Manchester City Council to
redevelop the Miles Platting neighbourhood under a Private Finance Initiative.
Through the PFI, £160 million of public money will be invested, along with a
similar amount of private sector funding.
The contract signals the start of a five year, comprehensive modernisation and
improvement programme for 1,520 council houses and apartments across a 264-acre
area of Manchester, two miles east of the city centre.
In addition to the refurbishment of existing homes, the regeneration scheme
includes the creation of 1,080 new-build family houses and apartments. Lovell is
expected 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 PFI
for the Group and Lovell, which has a strong track record for delivering
large-scale housing regeneration programmes.'
23 March 2007
Enquiries:
Morgan Sindall plc Tel: 020 7307 9200
Paul Smith, Chief Executive
David Mulligan, Finance Director
College Hill Tel: 020 7457 2020
Matthew Smallwood
Editor's notes:
Morgan Sindall announced on 30 January 2006 that the Renaissance Consortium was
preferred partner for the Miles Platting redevelopment in East Manchester.
Morgan Sindall plc, the construction group, has four specialist divisions of
fit-out, construction, infrastructure services and affordable housing.
Lovell, Britain's leading provider of affordable housing, has offices in
Birmingham, 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