Takeover creates development Muse

Aug 1 2007 by Tony McDonough, Liverpool Daily Post

ONE of the development partners spearheading the creation of St Paul’s Square scheme in Old Hall Street, Liverpool, has changed hands.

Muse Developments has been formed by Morgan Sindall following completion of its takeover of AMEC Developments.

Muse assumes a critical role at St Paul’s Square as one of the three partners in English Cities Fund (ECF), the public-private joint venture behind the scheme. The other partners are Legal and General and English Partnerships.

Muse Developments starts life with a portfolio of around 30 UK projects. These include St Paul’s Square, which is nearing completion, and preferred developer status for a massive linked scheme at Pall Mall. Plans to create 1.5m sq ft of mixed space are being developed and promise to further change the look and feel of Liverpool’s business district.

The total Muse schemes across the UK add up to more than 20m sq ft with an end value of more than £3.7bn. It has also been selected for projects worth a further £1bn, bringing the total portfolio to 25m sq ft of mixed-use space.

The new company’s joint managing directors are Matt Crompton and Nigel Franklin.

Mr Crompton said: “We will be a highly profitable core business building on our impressive track record within an organisation focused on changing places and spaces.”