Sovereign Square builder reports strong pipeline

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Urban regeneration firm Muse Developments, which has multi-million pound developments underway in Leeds and Doncaster, reported a strong development pipeline of £2.3bn for the first four months of 2014.

The Leeds-based firm said it was a major contributor to half year results at parent company Morgan Sindall, the construction and regeneration group.

Muse is working on the construction of the first building at Sovereign Square - a 60,000 sq ft office development being built by Morgan Sindall for KPMG in Leeds, which is due for completion this autumn.

This is the first of three buildings proposed around a new area of green public realm on Sovereign Street.

In Doncaster, construction is progressing on a first phase of residential development at Doncaster Civic and Cultural Quarter’s “The Gables”, a 54-home scheme in the town centre.

Morgan Sindall Group’s specialist housing provider Lovell is constructing the new energy-efficient homes which will be the first high-quality modern houses to be built in the town centre in a number of years.

Dan Needham, Muse’s regional director for Yorkshire and the North East, said: “We’re definitely starting to see a real growth in confidence and we’ve been working very hard over the past few years to make sure we’re in a position to take advantage of this.

“It’s been a successful year for us so far, with a development agreements signed with Rolls Royce in Hucknall and with the Council in South Shields, plus major projects underway in Leeds, Doncaster and Stockton-on-Tees.

He was speaking yesterday as parent company Morgan Sindall Group, which operates through five divisions of construction and infrastructure, fit out, affordable housing, urban regeneration and investments, delivered half year results in line with expectations for the six months ending 30 June 2014.

The group said that against a continued backdrop of challenging market conditions, underlying operating profit before fell six per cent to £15.2m.

The group reported an order book of £2.7bn, up 14 per cent on the previous year end, supported by a £3.2bn pipeline of regeneration schemes.

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