Blackpool regeneration helps firm post record profits

The hotel planned for the Wilko site in Blackpool
The hotel planned for the Wilko site in Blackpool
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Urban regeneration and property development company Muse Developments, which is delivering Blackpool’s £220m Talbot Gateway scheme, has contributed to record results for its parent group.

Morgan Sindall Group, for the year ended December 31, 2018, posted record profit before tax up 23 per cent to £81.6m.

This came on revenue of £2,972m – a 6 per cent increase on the previous year.

The Group reported a committed order book of £3.6bn and a regeneration and development pipeline of £3.1bn.

Muse said 2018 had been a strong year, moving forward on 36 significant regeneration schemes across the UK.

Thirteen projects totalling a construction value of £350m are currently on site.

The company’s order book and forward development pipeline now stands at £2bn and Muse was selected as preferred developer on projects worth a further £0.5bn of gross development value in 2018.

One of its key projects is the planning application for a 142-room, four-star quality hotel including conferencing and leisure facilities in Blackpool which has been approved.

The scheme is part of the £7.8m second phase of Muse’s Talbot Gateway development being delivered in partnership with Blackpool Council.

Together with the proposed new tram terminal, it aims to transform the arrival experience from Blackpool North railway station into the town.

The hotel is to be built on the site of the Wilkos building and would include the integration of the tram terminus and landscaping and footpaths.

Phil Mayall, regional director for North West and Wales at Muse Developments said: “2018 was a strong year for Muse, with significant progress on many of our regeneration schemes across the region and we are continuing that momentum in 2019.”