Morgan Sindall Group, parent of affordable housebuilder Lovell, fit-out firm Overbury and developer Muse Developments, recorded a £15m loss in the year to the end of December 2015, but said progress was made securing new work across all divisions.
Exceptional items of £49m included a £47m loss on floating jetty and accommodation contracts for the Ministry of Defence at Faslane.
In the North West, Muse Developments reported progress on the restoration of the grade 2-listed landmark Mackie Mayor building on Swan Street in Manchester. The building has been derelict since the early 1990s. The group said the building “is expected to be of interest to a range of potential occupiers for leisure, retail or commercial use.”
Muse will shortly be submitting an application for the New Victoria scheme in Manchester, where it is planning to develop two residential buildings and an office building adjacent to Victoria Station.
In Salford, the English Cities Fund joint venture between Muse, Legal & General and the Homes & Communities Agency secured planning consent for a further private rented sector scheme at New Bailey, where 90 homes are currently under construction. Construction of One New Bailey, a 125,000 sq ft office development, will be completed in May this year, largely prelet to law firm Freshfields.
In Warrington, Muse, with Warrington Council and economic development agency Warrington & Co, secured a deal with cinema operator Cineworld to anchor a new leisure development as part of the 300,000 sq ft Bridge Street Quarter regeneration scheme.