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Tue June 15 2021

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Morgan Sindall sells Miles Platting PFI stake

28 Jun 13 Morgan Sindall Group has sold its interest in the Miles Platting PFI social housing scheme for £8.4m.

The buyer is HICLInfrastructure Company.

Morgan Sindall has made a net profit of £4.4m on the deal, since the price realised was 38% above the directors' valuation.

Subsidiary Lovell began work as part of the Renaissance Consortium on the Miles Platting PFI project for Manchester City Council in 2008, building 1,000 new homes and refurbishing a further 1,500. It has completed the refurbishment work.

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