Morgan Sindall secures ?115m Chester regeneration

RNS Number : 1607M

Morgan Sindall Group PLC

11 August 2011

 



11 August 2011

Morgan Sindall Group secures £115m regeneration scheme in Chester

Morgan Sindall Group plc, the construction and regeneration group, today announces that its Urban Regeneration division, Muse Developments, has secured a major regeneration scheme in Chester city centre, with a total development value of approximately £115 million. The site has been identified by Cheshire West and Chester Council as the location for the City's proposed new Central Business District (CBD), due to its central location and close proximity to Chester Central station. 

The scheme encompasses the first two phases of the new CBD, which will comprise of two BREEAM Excellent, six-storey Grade 'A' office buildings totalling 150,000 square feet.  It will be complemented by the provision of new public realm, linking the scheme with the station and Shropshire Union Canal. 

A planning application is expected to be submitted in early 2012. The scheme, which is expected to take approximately 10 years in total, is expected to commence construction in 2013.  When complete, the CBD will comprise over 500,000 square feet of Grade 'A' office space.

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

"We are delighted to have secured this regeneration scheme for what is set to be an exciting development for Chester. Regeneration schemes of this sort offer great potential for the Group in the medium-term and represent exciting opportunities to further expand our regeneration activities."

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Notes to Editors:

Morgan Sindall Group

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

Muse Developments

Muse Developments is one of the country's leading names in commercial development and urban regeneration. Muse is a national developer with regional operations in Manchester, London, Leeds and Glasgow.

ENQUIRIES:

Morgan Sindall Group plc                                       Tel: [phone]

Paul Smith, Chief Executive

David Mulligan, Finance Director

Blythe Weigh Communications                               Tel: [phone]

Paul Weigh                                                                 Mobile: [phone]

Tim Blythe                                                                   Mobile: [phone]

 

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