By Iain Gilbert
Date: Monday 27 Jul 2020
LONDON (ShareCast) - (Sharecast News) - Construction and regeneration group Morgan Sindall reached an agreement on Monday to commence work on the first phase of its £185m New Victoria scheme in Manchester city centre.
Adjacent to Manchester Victoria train station, the first phase of Morgan Sindall's scheme was for 450,000 square feet of residential development, with construction expected to complete in 2023.
The FTSE 250-listed firm also added that proposals were underway to bring forward the second phase of the wider New Victoria scheme, developed in partnership with Network Rail and with support from Manchester City Council and Homes England.
Chief executive John Morgan said: "We are pleased to have agreed our second major forward funded deal in recent weeks, which further reinforces our regeneration strategy.
"We look forward to working with our partners to deliver a transformational scheme on an underutilised site in the heart of Manchester's city centre".
As of 0830 BST, Morgan Sindall shares were up 4.09% at 1,120p.
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