McAleer and Rushe gets £350m contracts

The Cookstown-based firm is a Design & Build construction division of McAleer & Rushe and the new projects will provide a two-year order book in addition to the company’s other activities in the office and hotel sectors.

A key area of the businesses’ success is within the residential sector, specifically the Build to Rent (BTR) market as well as its long-established footprint in student accommodation which has seen it deliver over 8,400 beds since entering the sector six years ago.

The new projects include the first Build to Rent scheme in Brighton, a £55m 209 apartment redevelopment of the former Longley Industrial Estate for Legal & General with the company already on site with a £68m 34-storey residential tower at Exchange Square in Birmingham for Nikal.

In November, MARC will also commence Phase 2 of the Mount Pleasant development for Taylor Wimpey in Central London worth £45m, which follows the recent commencement of Greenwich Millennium Village Plot 301 worth £41.5m.

Other contracts which highlight the business’ strong footprint in London include the £29m Olive Morris House scheme in Brixton as well as its growing influence in the broad residential sector with its first Co-Living contract worth £36m with ‘The Collective’ which will see 301 homes built in Earlsfield, London.

Martin Magee, Managing Director at MARC, said: “This is very significant and welcome news for the company, given the uncertainty ahead in the property investment sector and subsequently our industry. We have long standing partner relationships with several tier one developers, institutional investors, and private equity funds, from which we deliver many repeat projects. 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.”

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