Peter House compensation lifts Stonemartin

19 November 2008 13:06 Comments (0)

Stonemartin recorded a £7m half year profit today, largely due to compensation after it lost management contracts on serviced offices Manchester, Birmingham and Reading.

Earlier this year a joint venture between Morley and Hermes cancelled management agreements at Peter House in Manchester, One Victoria Square, Birmingham and Davidson House in Reading.

Stonemartin was paid £6.5m in compensation, which contributed to a pre-tax profit of £7m.

Your Comments

Read our comments policy

Related Articles

Chestergate great Places c Paddock Johnson

Great Places nets £284m funding boost

23 April 2024 10:49 Julia Hatmaker

Santander, NatWest, and ABN AMRO have agreed three separate, sustainability-linked revolving credit facilities with the Manchester-based housing association.
Manchester generic from the air, c PNW

Manchester makes global list of most expensive cities to build in

16 April 2024 00:02 Julia Hatmaker Comments (39)

London took the top position on Arcadis’ 2024 International Construction Costs Report, while the North West city claimed the 12th spot.

Sign up to receive the Place Daily Briefing

Join more than 13,000 property professionals and receive your free daily round-up of built environment news direct to your inbox

Subscribe

Join more than 13,000 property professionals and sign up to receive your free daily round-up of built environment news direct to your inbox.

By subscribing, you are agreeing to our Terms & Conditions and Privacy Policy.

"*" indicates required fields

Your Job Field*
Other regional Publications - select below