Forrest admits £26m of accounting ‘errors’

Directors of troubled contractor Forrest have reported £26m of “errors” in previous years’ official accounts, turning 2015’s pre-tax profit of £3.6m into a £19.2m loss followed by a £6.8m loss in 2016.

Councils offer lending lifeline to Forrest

Greater Manchester Combined Authority has stepped in with £2m to help refinance struggling contractor Forrest to ensure it can deliver a £600m order book, much of it in social housing.

Virgin Media House

L&G sells Virgin Media office

Legal & General Investment Management Real Assets has sold Virgin Media House, a 110,000 sq ft headquarters office building on Concord Business Park, South Manchester for £19.7m to Global Mutual at a net initial yield of 8.29%.

St Modwen posts £197m profit drop

The Birchwood-based developer recorded a turnover of £287.7m in 2016, equal to its revenue in 2015, however profits dropped from £258m to £60.9m this year.

Stockport View Along Underbank Towards White Lion From Corner Of Mealhouse Brow

HLF grant to revive Stockport Old Town

Comments (2)

Stockport Council and Stockport Heritage Trust are celebrating after being awarded £1.8m for their Rediscover the Underbanks project from the Heritage Lottery Fund to revive part of the Old Town area of the centre.