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Morgan Sindall Group PLC

16 April 2013

News Release 16 April 2013

Lovell signs GBP63.3m Dagenham homes scheme

Morgan Sindall Group plc announces that its Affordable Housing division, Lovell, has signed contracts with the Greater London Authority for a GBP63.3 million mixed tenure housing scheme at Lymington Fields in the Chadwell Heath area of Dagenham.

The site, which once housed part of Barking Technical College in the 1980s, is one of the first to be released by the Mayor of London, Boris Johnson, as part of his drive to unlock development on public sector owned land.

The scheme, to be built on the 12.8-hectare brownfield site, will include 213 homes for private sale by Lovell, 104 homes for affordable rent and 45 homes for shared ownership sale through housing provider Home Group.

Construction work is expected to start at the end of summer 2013 with the development set to be completed by the end of 2017. All homes will meet Level 4 of the Code for Sustainable Homes incorporating energy-efficient features including photovoltaic solar panels and high efficiency boilers. As part of its commitment to leaving a lasting legacy in communities, Lovell expects to take on a number of apprentices to work on the development.

John Morgan, Chief Executive of Morgan Sindall Group, commented: "We are delighted to be working alongside the London Borough of Barking and Dagenham to develop much needed housing in the region. We have a strong track record working with government to unlock the value and potential of under-utilised public sector land and we are committed to delivering urban renewal in partnership with councils and Local Authorities."

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Editor's notes:

Morgan Sindall Group

Morgan Sindall Group plc is a leading UK construction and regeneration group with a turnover of GBP2 billion, employing around 6,500 employees and operating in the public and commercial sectors. It operates through five divisions of construction and infrastructure, fit out, affordable housing, urban regeneration and investments.

Lovell

Lovell is a leading provider of affordable housing. The company has expertise in new-build, regeneration, refurbishment as well as providing a full responsive and planned repairs and maintenance service. With offices in England, Scotland and Wales, Lovell offers a unique one-stop shop of services with the ability to build homes, offer a full menu of tenure options and maintenance for life. Lovell is part of Morgan Sindall Group plc, a leading UK construction and regeneration group with revenue of over GBP2 billion and which operates through five divisions of construction and infrastructure, fit out, affordable housing, urban regeneration and investments.

ENQUIRIES:

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Nick Cosgrove

Alison Kay

This information is provided by RNS

The company news service from the London Stock Exchange

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