Morgan Sindall Group PLC (LSE:MGNS) said it has signed the Department for Levelling Up, Housing and Communities' Developer Remediation Contract on behalf of the group and all of its subsidiary companies.
The Self Remediation Contract most directly impacts housing partnerships business Lovell and urban regeneration arm Muse Places, the FTSE 250-listed firm noted.
Morgan Sindall said the contract confirms a commitment already given to address life‐critical fire safety issues on all buildings of 11 metres and above in England developed by the group in the 30 years prior to 5 April 2022,
Any funds disbursed by the Government's Building Safety Fund for buildings developed by Morgan Sindall will also be repaid, it said.
Accounts for 2022 contained provisions of £48.1mln for liabilities related to remediation work and the developer today said that signing the contract does not affect this amount already set aside.
By 5.00pm yesterday, these housebuilders had also confirmed their signature of the Self Remediation contract: Redrow; Persimmon; Bellway; Berkeley; Crest Nicholson; Vistry Group; Barratt Developments; Taylor Wimpey.