Muse boosts Morgan Sindall Group results with strong development pipeline

Nationwide placemaker, Muse, has contributed to the positive financial results released by its parent company, Morgan Sindall Group, which posted its Full Year results for 2025 on 25th February, thanks to its strong development pipeline.

With strong and robust earnings growth, the Group delivered a strong performance in 2025, with Group revenue increasing by 10% to over £5 billion, while adjusted Operating Profit increased by 39% to £232.6 million.

Over the last 12 months Muse has been preparing sites across the country as part of a strategic expansion of its development pipeline to £6.3 billion (including preferred bidder positions). In the last year this has increased by 29%, from £4.9 billion.

The diverse pipeline includes circa 22,000 new homes across 24 communities spanning the country. Of these, more than a quarter will be affordable. It also includes retail, leisure, logistics, workspaces and public spaces. This progress underpins a long-term commitment to creating successful, sustainable places across the country, that are designed to improve the lives of those in communities.

In Stockport, Muse is Stockport Council’s development partner on the Stockport Exchange business district, which is set to include some housing provision in its final phases. As part of ECF, alongside Homes England and Legal & General, Muse is also involved in bringing forward over 1,000 new homes in the new Stockport 8 neighbourhood (pictured) within the Town Centre West regeneration area.

Building on the success of previous year, 2025 saw a total of eight opportunities turn into signed development agreements, including elsewhere in Greater Manchester. This included a partnership with Manchester City Council for the £500 million plans to transform Wythenshawe town centre, the redevelopment of Eccles Town Centre, the latest strategic project partnership between Muse and Salford City Council, and the addition of Prince’s Gate to the existing partnership with Oldham Council.

At the end of the year, seven major projects were on site with a total of £205 million Gross Development Value (GDV). This included the £14 million multi-storey Travel Hub, as part of the £100 million Prestwich Village regeneration, and the next phase in the delivery of ECF’s state-of-the-art St Helens Transport Interchange, with St Helens Borough Council.

This is expected to grow in 2026, with a further 17 coming to site with a GDV of £448 million, which includes a total of 2,598 new homes.

Against the backdrop of the national government’s continued focus on supporting transformation and accelerating regional growth, Muse has additionally expanded its collaborative partnerships with the wider industry. This includes the BITC – Business in the Community, Passivhaus Trust, The Association for Rental Living, NLA, British Property Federation, West London Business, Business LDN, The Northern Powerhouse Partnership, Northern Housing Consortium, Quality of Life Foundation, and Manchester’s CyanLines.

Phil Marsden, Managing Director at Muse – North West, said:

“We are pleased to contribute to the performance of our parent company Morgan Sindall Group.

“The last 12 months has seen us continue to grow our significant development pipeline. Today, we have approximately 22,000 homes across 24 communities up and down the country, including many of these in the North West, alongside a wide range of retail, leisure, logistics, workspaces and public spaces to be created. We are pleased to have completed on Talbot Gateway, secured planning permission in places likes Oldham, Wythenshawe, and St Helens, and made great strides on 100 Passivhaus homes at Willohaus, Crescent, Salford.

“To be in this position is by no coincidence. It is the result of the significant work which has been undertaken by our exceptional teams in partnership with our national and local partners.

“We are excited to be at the point of real opportunity to drive forward positive, meaningful, growth. We are looking forward to building on this national momentum by creating high-quality, sustainable, places where people can live, work and thrive in the North West.”