Business

McAleer and Rushe confirm contracts worth £350m secured since March

The £55m Longley Place development in Brighton.
The £55m Longley Place development in Brighton. The £55m Longley Place development in Brighton.

CO TYRONE construction firm McAleer and Rushe has announced £350 million of new contracts since the onset of the coronavirus pandemic.

The company said its design and construction division, McAleer & Rushe Contracts UK (MARC), has been particularly successful in securing projects across the student accommodation and build-to-rent sectors.

Managing director Martin Magee said the contracts were significant given the uncertainty ahead in the property investment sector and the construction industry.

MARC is already on site in Birmingham for the construction of a £68m 34-storey residential tower Exchange Square for Nikal.

New schemes in the pipeline include a £55m build-to-let scheme in Brighton for Legal & General and the second phase of the Mount Pleasant development for Taylor Wimpey in central London, worth £45m.

It follows the recent commencement of Greenwich Millennium Village Plot 301, worth £41.5m.

Other London contracts include the £29m Olive Morris House scheme in Brixton and a £36 contract for co-living development ‘The Collective’, which will see 301 homes built in Earlsfield..

“We have long standing partner relationships with several tier one developers, institutional investors, and private equity funds, from which we deliver many repeat projects,” said Mr Magee.

“We have strategically focused on increasing our market share in the broad residential sectors from, student, co-living and build to rent, particularly in London and UK regional cities.

“Our order book for 2021 and 2022 is now looking very solid and with a number of additional non-residential projects we hope to sign soon, is starting to resemble pre-covid projections.

“Our entire management team have worked tirelessly during 2020 and we are most appreciative of the collective efforts in securing this position,” added the managing director.