£252m forward funding deal of Lewisham Gateway

RNS Number : 9361S

Morgan Sindall Group PLC

14 July 2020

 

14 July 2020

Morgan Sindall Group plc

£252m forward funding deal of Lewisham Gateway scheme

Morgan Sindall Group plc, the UK construction and regeneration group, today announces that its Urban Regeneration division has agreed a £252m forward funding deal with Get Living PLC to deliver the second and final phase of its Lewisham Gateway scheme.

Once complete, the scheme will be operated by Get Living and provide 649 homes for rent, c.25,000 sq ft of retail space, c.15,000 sq ft of food and beverage space, a gym, 10,000 sq ft of offices and Lewisham's first major multiplex cinema which has been pre-let.  Completion is anticipated in 2023.

The wider development is a joint project with the London Borough of Lewisham, the Mayor of London and Transport for London, supported by Homes England.  Lewisham Gateway has already delivered 362 new homes, alongside new shops and restaurants, a public park with children's play space and access to the rivers, plus major infrastructure improvements which include the removal of the Lewisham Northern Roundabout and the implementation of a new highways system.

John Morgan, Chief Executive of Morgan Sindall Group, said:

"This deal reinforces our regeneration strategy and is testament to our expertise in this area.

"We look forward to working in partnership with Get Living to deliver a transformational scheme to the local community."

Morgan Sindall Group plc	Tel:  [phone]
John Morgan, Chief Executive Steve Crummett, Finance Director
Instinctif Partners	Tel:  [phone]
Matthew Smallwood Rosie Driscoll

 

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