Muse, the placemaker involved in a number of landmark regeneration schemes in Stockport town centre, has contributed to the positive financial results released by its parent company, Morgan Sindall Group.
Morgan Sindall Group delivered another set of record half year results, achieving significant growth in adjusted profit before tax, up 21%. Revenue increased by 8% up to £2,562 million, while adjusted operating profit increased by 21% to £111.5 million. Adjusted operating margin was 4.4%, 50 basis points higher than the prior period.
Over the last six months Muse has continued to build on its successes from the previous year by converting its strong development pipeline, which includes circa 22,000 new homes alongside retail, leisure, logistics, workspaces and public spaces, into delivery.
At the same time, momentum is growing with opportunities being converted into signed development agreements and an order book which currently stands at £4.6 billion set to expand with a further three preferred bidder positions reached since the start of the year.
A total of nine major projects are currently under construction across the business. This is set to grow further with an expected eight starts on site planned in the second half of 2026, bringing the collective gross development value (GDV) to £390 million.
This progress underpins Muse’s role as a placemaker, with a long-term commitment to creating successful, sustainable places that improve the lives of communities and respond to local priorities, such as in Stockport. Muse is the council’s development partner on the Stockport Exchange commercial district, and, as part of ECF alongside Homes England and Legal & General, is bringing forward the eight-acre Stockport 8 neighbourhood (pictured) of 1,300 new homes within the Town Centre’s regeneration area.
Progress reflects the strength of Muse’s long-term approach, financial resilience and place-based partnership model, combining the capability of a national business with regional teams embedded in the communities they serve.
Against the backdrop of the UK government’s continued focus on supporting transformation and accelerating regional growth, Muse has continued to progress major regeneration opportunities across the North West. This progress can be seen through a range of key projects, with new homes completed, infrastructure moving forward and further starts on site secured.
Muse has additionally expanded its collaborative partnerships with the wider industry. This includes joining the Northern Powerhouse Partnership, where Muse is bringing experience of delivering complex, long-term regeneration projects to the business-led organisation focused on unlocking growth across the North of England.
Elsewhere, the business has joined the CyanLines partnership, supporting a growing network across Greater Manchester’s parks, waterways, streets and public spaces through walking, cycling and everyday journeys.
Muse has also supported the Northern Housing Consortium’s Renew inquiry alongside Homes for the North. Muse contributed insight to a recent report which set out how regeneration could help unlock more than 500,000 homes across this area of the country.
To support its continued growth and national presence, Muse has welcomed 24 new hires across its teams and disciplines. Together, they will help play a key role in further bolstering the business’s capability to deliver long-term place-led regeneration across the country.
As a responsible business, Muse has also strengthened its commitment to the next generation of professionals.
The Muse Academy has expanded further, as it hosted new T-Level students, work experience programmes, and continued to support the professional development of two Trainee Project Managers and a Graduate Development Manager. This commitment is also reflected in Muse’s continued support for Salford Youth Zone, helping create opportunities for young people in one of the communities where Muse has a long-term presence.
Phil Marsden, Managing Director at Muse – North West, said:
“It has been a positive first half of the year for our North West business, contributing to the wider performance of Morgan Sindall Group while making strong progress across a number of key projects.
“The last six months have been about turning long-term planning into visible progress on the ground.”
Looking ahead, Marsden added:
“The market remains challenging, so it is important that we focus on the right projects, work closely with our partners and make sure each stage of delivery is properly considered.
“Our pipeline across the North West gives us a strong platform for the rest of the year, and we look forward to continuing to create places that bring lasting value for communities across the region.”
