Morgan Sindall Group PLC Muse Developments appointed preferred bidder
May 07 2013 - 4:00AM
RNS Non-Regulatory
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Morgan Sindall Group PLC
07 May 2013
7 May 2013
MORGAN SINDALL GROUP PLC
Muse Developments appointed preferred bidder for redevelopment
of St Nicholas House,
former Aberdeen City Council HQ
Morgan Sindall Group plc announces that Muse Developments, its
Urban Regeneration division, in joint venture with Aviva Investors,
has been appointed as preferred bidder to work with Aberdeen City
Council on the redevelopment of the St Nicholas House site in
Aberdeen. The project will be fully funded by Aviva Investors, and
has an overall value in excess of GBP100m.
Muse Developments proposes to develop a vibrant new mixed-use
quarter for the city on the brownfield site which previously housed
the local authority's corporate headquarters. The proposal is for a
development which will house offices, a boutique hotel, cafés,
restaurants and retail space, as well as creating a significant
amount of public space including a small civic square and
pedestrianising Broad Street. Provost Skene's House is also
included in the proposals.
The Council will lease the development from Muse and receive a
proportion of the rental profits for 35 years, after which the site
and development will transfer into council ownership.
A public consultation lasting 12 weeks will be carried out
before any planning application is submitted. The site will be
developed in a single phase and Muse aims for completion during
2016.
John Morgan, Chief Executive of Morgan Sindall Group, commented:
"Muse Developments is delighted with the opportunity of working on
this scheme. We have a strong track record in similar joint venture
regeneration projects and are confident that we will deliver a
successful living and working destination. We are excited to be
working with Aberdeen City Council and look forward to bringing
innovation and long-term value for the people of Aberdeen."
ENDS
Editor's notes:
Morgan Sindall Group plc
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.
Muse Developments
Muse Developments is one of the country's leading names in
commercial development and urban regeneration. A national developer
- with regional operations in Manchester, London, Leeds and
Glasgow. It delivers complex mixed-use schemes - with the accent on
quality and sustainability - and creates vibrant new places in
towns and cities. Founded on the extensive experience of its
management and delivery teams, Muse is driven by a desire to bring
a fresh and innovative approach to property development. Muse 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,
affordable housing, fit out, urban regeneration and
investments.
ENQUIRIES:
Morgan Sindall Group plc Tel: 020 7307 9200
John Morgan, Chief Executive
Steve Crummett, Finance Director
Brunswick Tel: 0207 404 5959
Nina Coad
Alison Kay
This information is provided by RNS
The company news service from the London Stock Exchange
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