National construction and regeneration company Morgan Sindall has been boosted by a strong performance from its operations in Greater Manchester.
The firm shrugged off challenging market conditions last year as revenues grew 3 per cent to £3.1bn and a 10 per cent increase in pre-tax profit of £89m.
It is now predicting another strong year of growth supported by a strong balance sheet and secured workload up 14 per cent to £7.6bn.
Its urban regeneration and property development company, Salford-headquartered Muse Developments, has also had a strong year.
The company currently has 17 projects on site, with a gross development value of £750m, and is expecting to commence construction on a further 18 projects in 2020.
Planning consent was achieved on eight projects with a total development value of £550m at Cheadle Royal, Canning Town, Millbay, Hucknall, Leeds, Brentford and Salford.
The company’s order book and forward development pipeline now stands at £2.3bn, including three major new projects secured in Slough, Rotherham and the Wirral, of which Muse’s share totals a gross development value of £400m.
Muse was also selected as preferred developer for a Grade A office development at City Park in Bradford.
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More than 1,000 new homes are currently under construction within Muse’s portfolio, across a variety of tenures including private sale, build to rent and affordable.
Matt Crompton, managing director at Muse, said: “2019 was another strong year for Muse, with performance in line with expectations and significant progress on many of our key regeneration schemes across the 海角视频. We continue to collaborate with our partners to create innovative new places, bringing together the best of the public and private sector to deliver real transformational change and maximise social impact.
“One of our key focus areas going forward is working closely with local authorities to help them ‘re-imagine’ their high streets by looking at alternative, complementary, sustainable uses for town centres.
"We already have a strong track record of creating vibrant new places, specifically designed to serve their local communities.
“Some of the year’s highlights include another major pre-let and forward funding deal at our flagship industrial and distribution development, Logic Leeds, six complementary phases under construction and numerous new occupiers at Salford Central, plus residential sales in Brixton, Brentford, Manchester, Plymouth and Stockton-on-Tees."
Altrincham-based Lovell, the group’s housing specialist has also reported a strong year.
Lovell has seen a 50 per cent increase in operating profit this year compared to 2018.
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The company said its strategy of increased investment during a period of sustained growth, has resulted in a combined regeneration secured order book of £1.1bn.
During 2019, Lovell built more than 2400 homes nationwide ranging from new-build open market homes, private rented sector housing and affordable homes to large-scale refurbishment and housing-led regeneration programmes.
Lovell North West has built 501 homes across the region and has a forward order book and regeneration and development pipeline of £206m.
Lovell regional managing director, Lee Sale says: “In 2020, Lovell will be celebrating the 50th anniversary of its first partnership development, a major milestone in our history. Our commitment to working with partners with a shared goal to build great places to live – a place where families can grow and communities can thrive is as relevant today as it was in 1970.
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“Our focus remains, to address the housing shortage by working with our clients, leading housing associations and local authorities in long-term, trusted partnerships where our expertise and ability to think innovatively is helping to accelerate housing led-regeneration, sustainable communities and social renewal.”