Partnership deals boost activity for regeneration specialist
Muse, a regeneration business which has a base in Leeds, has contributed to the financial results released today by parent company Morgan Sindall Group.
Group revenue increased by 10% to over £4.5bn, while adjusted operating profit before tax was up 19% to £172.5m.
The group also reported net cash of £492m, and its secured order book of £11.4bn was up 28% on the prior year.
Across Yorkshire and the North East, Muse’s pipeline has seen a boost after entering a Development Agreement with Bradford City Council to deliver City Village.
The opportunity will be delivered by ECF – a partnership with Legal & General and Homes England – and will deliver up to 1,000 homes, workspaces, shops, and public realm.
This has helped Muse’s development pipeline grow to £4.1bn across the country – a significant expansion from £1.8bn in 2023.
Muse has also been named as preferred Strategic Regeneration Partner by Wakefield Council to help accelerate Wakefield’s regeneration plans, while ECF has been appointed Development Partner for East Bank Village in Hull.
The 15-year agreement could deliver a new riverside neighbourhood with up to 850 new homes.
Muse completed the delivery of 113 affordable homes at Northshore in Stockton-on-Tees and Forge Island – a new leisure destination – in Rotherham.
Elsewhere, the business agreed the sale of a 31-acre commercial opportunity at Harrier Park in Hucknall, as phase five infrastructure works were completed as part of the new community in Nottinghamshire.
Muse says it has continued to build on its partnership approach. Habiko, a partnership with Pension Insurance Corporation (PIC) and Homes England, will deliver up to 3,000 sustainable and affordable homes across the country, and will consider opportunities in Yorkshire and the North East.
Simon Dew, development director – Yorkshire & North East at Muse, said: “Over the last 12 months, across our region, we have been delivering new affordable homes, commercial, and public spaces which will have a positive impact on the communities and economies in which we operate.
“With new partnerships secured in Bradford, Hull and Wakefield, we are well placed to continue to deliver against regional growth priorities, whether through the delivery of new homes, jobs, innovation, or public spaces.
“We will continue to work closely with our partners, and prospective partners, to identify new opportunities for growth across Yorkshire and the North East.”
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