Morgan Sindall Group PLC

Share Issue/Capital Change • Jul 27, 2020

National Storage Mechanism | Additional information

RNS Number : 0829U

Morgan Sindall Group PLC

27 July 2020

27 July 2020

Morgan Sindall Group plc

Forward funding secured for first phase of £185m New Victoria, Manchester development

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.

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.

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.

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.

John Morgan, Chief Executive of Morgan Sindall Group, said:

"We are pleased to have agreed our second major forward funded deal in recent weeks, which further reinforces our regeneration strategy.

"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".

Morgan Sindall Group plc	Tel:  020 7307 9200
John Morgan, Chief Executive Steve Crummett, Finance Director
Instinctif Partners	Tel:  020 7457 2020
Matthew Smallwood Rosie Driscoll

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 rns@lseg.com or visit www.rns.com.

END

NRADZLFLBDLXBBV