Record profits for firm behind Gainsborough’s facelift

The signing of the regeneration contract between Muse Developments and West Lindsey District Council.
The signing of the regeneration contract between Muse Developments and West Lindsey District Council.

The regeneration plans for Gainsborough town centre have led to record preliminary financial results for the group behind the work.

Construction giants, Morgan Sindall Group, is the parent company of Muse Developments, an urban regeneration and property firm driving much of the Gainsborough project.

For the year ending December 31, 2018, Morgan Sindall delivered record profits before tax of £81.6 million, which is an increase of 23 per cent on the previous year. The group also has an order book worth £3.6 billion.

The figures reflect a strong year for Muse, which moved forward on 36 weighty regeneration schemes across the UK.

It has signed an initial five-year contract with West Lindsey District Council for the Gainsborough facelift, with the option to extend up to 12 years.

The focus is on developing a cinema, restaurants, a new public square and improvements to the river front.

Muse’s regional director David Wells said: “We have made significant progress in 2018, and we are delighted to be regenerating Gainsborough’s historic town centre.”