Morgan Sindall seals £269m deal to build new homes in Woolwich

Marion Dakers
CONSTRUCTION group Morgan Sindall has clinched a £269m contract to redevelop three estates in Woolwich.

Morgan Sindall said yesterday it will work with the Asra housing association and Greenwich Council build 1,500 homes on the sites through Lovell, the firm’s affordable housing division.

Greenwich agreed in 2010 to find a partner to redevelop the estates, which were built in the 1960s. Lovell was picked in June 2012 as the preferred partner.

Providing the scheme passes the consultation and planning process, work will begin in May 2014 and is expected to take 13 years to complete.

“We have a solid record of working with communities to create successful, high-quality and sustainable mixed-tenure neighbourhoods and we look forward to working with all those involved,” said chief executive John Morgan.

Morgan Sindall’s order book stood at £3.2bn in May, up six per cent on the previous year.

Shares in the firm closed down 1.11 per cent yesterday.