Morgan Sindall Group named Pr

RNS Number : 6349Q

Morgan Sindall Group PLC

06 August 2010

 



6 August 2010

Morgan Sindall Group named Preferred Bidder for £350m+ Bournemouth Regeneration

Morgan Sindall Group plc, the construction and regeneration group, today announces that Morgan Sindall Investments Limited (MSIL), its investment unit, has been named preferred partner for the Bournemouth Town Centre Master Vision regeneration scheme. The scheme, which will run for 20 years and has a development value of between £350 million and £500 million, is a 50/50 joint venture Public Private Partnership between Bournemouth Borough Council and MSIL.

The partnership, which forms part of the Council's wider Town Centre Vision, will help spearhead the regeneration of the town centre delivering a range of residential and mixed-use schemes which will include leisure attractions, new homes, office accommodation and shopping. MSIL is providing a full range of strategic development services to the Local Asset Backed Vehicle partnership. This includes long-term master planning, detailed site development planning, property management and design and construction. Money generated by the partnership will be reinvested in improvements to the town's infrastructure and public spaces.

Paul Smith, Chief Executive of Morgan Sindall Group plc, said:

"We are delighted to be named preferred bidder on the Bournemouth Town Centre Master Vision and look forward to developing our relationship with Bournemouth Borough Council throughout the scheme's life-cycle. This further expands MSIL's growing portfolio of projects and enhances our reputation to deliver projects that require integrated investment and construction capabilities".

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Notes to Editors: 

Morgan Sindall Group

Morgan Sindall Group plc is a leading UK construction and regeneration group operating through four divisions of fit out, construction and infrastructure, affordable housing and urban regeneration, and an investment unit.

Morgan Sindall Investments (MSIL)

Morgan Sindall Investments (MSIL) provides project development and funding solutions through a one-stop service, allowing our private and public sector partners to implement sustainable change in order to improve long-term prospects and well-being of local communities.

ENQUIRIES:

Morgan Sindall Group plc                                       Tel: [phone]

Paul Smith, Chief Executive

David Mulligan, Finance Director

Blythe Weigh Communications                               Tel: [phone]

Tim Blythe                                                                   Mobile: [phone]

Paul Weigh                                                                 Mobile: [phone]

 

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