Morgan Sindall Group PLC £100m South Shields Regeneration Project (5840L)

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RNS Number : 5840L

Morgan Sindall Group PLC

13 August 2013

Morgan Sindall Group plc

Morgan Sindall Group awarded GBP100m South Shields Regeneration Project

Morgan Sindall Group plc is pleased to announce that Muse Developments, its Urban Regeneration division, has been appointed by South Tyneside Council as the sole developer of the GBP100m South Shields 365 town centre renewal.

The South Shields 365 plan proposes a radical town centre redevelopment with a new retail quarter in the Fowler Street West area. The scheme will create a new cinema, library, 175,000 square foot of retail and leisure facilities including a food store, as well as a hotel. The Council is also working with Nexus (the Tyne and Wear passenger transport executive) to bring improvements to the Metro system along with a new transport interchange.

Work is due to commence summer 2014 and is expected to take six years to complete.

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

"We have a strong track record in delivering complex, mixed-use regeneration schemes and we are delighted to be working alongside South Tyneside Council to revitalise South Shields town centre. This important project will see the creation of a vibrant retail and leisure quarter as well as the development of new homes and will unlock new opportunities for residents, businesses and visitors to the area."

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Editor's notes:

Morgan Sindall Group

Morgan Sindall Group plc is 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.

Muse Developments

Muse Developments is one of the country's leading names in commercial development and urban regeneration. It delivers complex mixed-use schemes - with a focus on quality and sustainability - and creates vibrant new places within the UK's towns and cities.

For further details of the South Shields 365 masterplan, or to download a copy, visit www.southshields365.co.uk

Contact:

Morgan Sindall Group 020 7307 9200

John Morgan, Chief Executive

Brunswick 0207 404 5959

Jonathan Glass

Alison Kay

This information is provided by RNS

The company news service from the London Stock Exchange

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