Morgan Sindall lifted by contract win

17th Aug 2009 08:30

Construction and regeneration group Morgan Sindall said its affordable housing division has been confirmed as a preferred partners for a £35m regeneration scheme in Skipton, North Yorkshire.The scheme involves the construction of 220 new homes, of which 88 have been designated for affordable rent and low-cost home ownership, as well as new retail outlets. Lovell, Morgan Sindall’s affordable housing subsidiary, will be responsible for the housing element of the scheme, valued at £28m.Construction is expected to start in the spring of 2010 and should complete by 2015.The news perked up the share price which has over the last two months tumbled from its 52-week high of 734p to below 600p last week.Chief executive Paul Smith said that demand for the provision of affordable housing nationwide remains healthy, with the sector remaining a priority for the government.‘As one of the market leaders in the field, we are well positioned to take advantage of current opportunities,’ Smith maintained.