Blackpool projects help Muse group profits rise

The hotel scheme planned for the Talbot Gateway
The hotel scheme planned for the Talbot Gateway
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Major projects in Blackpool have helped urban regeneration and property development company Muse Developments, contribute to half year results of parent company Morgan Sindall Group.

The group said it delivered “strong” 14 per cent profit growth in the first half of this year with operating profit up 37 per cent to £24.9m (2016: £18.2m) on revenue of £1,307 m (2016: £1,148m).

The group reports an order book of £3,801m, a five per cent rise from £3,637m. During the first six months of this year, Muse moved forward on 23 projects with a total value of £385m.

The company which expects a further £227m of contract awards in the next 12 months, also maintained a healthy order book and development pipeline, which now stands at

£2.4bn.

Key projects for Muse in Blackpool include the plans for a 142-room, full service hotel with conferencing and leisure facilities.

The scheme is the second phase of Muse’s Talbot Gateway development which is being delivered with Blackpool Council. With the proposed new tram terminal, this next phase of the scheme is set to transform the arrival experience from Blackpool North station.