Morgan Sindall is boosted by Yorkshire operations

Morgan Sindall has been boosted by a strong performance at its Yorkshire operations
Morgan Sindall has been boosted by a strong performance at its Yorkshire operations
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Infrastructure and regeneration company Morgan Sindall has reported strong trading and said it is on track to deliver an annual performance slightly above expectations.

The firm has been boosted by a strong performance at its Yorkshire operations. Its construction division recently achieved a key milestone in Yorkshire with the completion of the £30m Barbara Hepworth Building for the University of Huddersfield.

The building will house the School of Art, Design and Architecture, enabling these disciplines to be united under one roof for the first time in a hub of creative studios and technology facilities.

Morgan Sindall said its construction and infrastructure division's full year performance is expected to show further margin improvement over last year.

The firm said its urban regeneration division has also made progress on various schemes within its development portfolio.

The group's urban regeneration and property development arm Muse has worked on a number of major developments in Yorkshire including the flagship industrial and distribution development, Logic Leeds.

A major deal was agreed with Aberdeen Standard Investments at Logic Leeds to forward-fund the development of a 361,000 sq ft distribution unit and a further 362,000 sq ft unit was recently handed over to electronics giant Premier Farnell for its new state-of-the-art distribution centre.

In South Yorkshire, Muse is Rotherham Borough Council’s development partner for the Forge Island regeneration programme. The proposal includes a cinema, food and drinks outlets and a hotel set within an attractive public space and a pedestrian bridge connecting to the rest of the town centre.

In Doncaster, Muse said that all the properties have been sold at the second phase of The Gables, a development of 43 new homes in Doncaster town centre.

Morgan Sindall said its partnership housing division is progressing well, as operational improvements drive margin growth and profit for the full year.

The group's Leeds-based housing developer Lovell has started Phase 2c of a multi-million project at The Leeway in Hull, a major regeneration scheme to provide nearly 800 new homes in the Ings area of the city.

The latest £17.5m phase will deliver 108 homes for open market sale for sister company Compendium Living and affordable homes for Together Housing. Phase 2b will provide 140 new homes and is due to start in 2020.

Lovell is also working on Doncaster Lakeside, a £30m, 147 new home development, including five affordable homes.

The total secured workload for the group as at September 30 was £7.3bn, up 10 per cent from the year end position.

Morgan Sindall's chief executive John Morgan said: “We continue to make good progress, with positive momentum across the group’s operations.

"Consequently, we now expect to deliver a full year performance slightly above the board’s previous expectations. Our strong balance sheet continues to be a significant differentiator and enables us to make the right long-term decisions for the business which position us well for continued sustainable growth.”