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Tyrone firm McAleer & Rushe sign new contracts of £81m

By Margaret Canning

Published 30/06/2015

The Tyrone firm has announced profits of £1.7m on turnover of £68.4m for the 18 months to September 2014
The Tyrone firm has announced profits of £1.7m on turnover of £68.4m for the 18 months to September 2014

The success of a Co Tyrone construction firm in Great Britain continues as it announced a hat-trick of contracts worth over £80m.

McAleer & Rushe has been selected for a £27m contract by hotel giant Whitbread to build a 380-bedroom Hub by Premier Inn at King's Cross in London.

And the overall group has announced profits of £1.7m on turnover of £68.4m for the 18 months to September 2014.

The Kings Cross hotel will be Whitbread's largest development in the UK.

And Taylor Wimpey, one of the UK's largest residential developers, has awarded McAleer & Rushe a £37m contract to build 91 apartments at Westminster Quarter in the second phase of the development.

The firm, which is based in Cookstown, also built the first phase.

And in the third deal, McAleer & Rushe has been appointed on a £17m design and build contract by Knightsbridge Student Housing (KSHL). The deal will see it build a 361-room student housing scheme in Southampton.

And Belfast-based architects Urban Innovations has been appointed architect on the new-build scheme. The scheme involves 361 en-suite bedrooms over eight-storeys, a combination of studios and cluster flats.

McAleer & Rushe said it is also working with KSHL on schemes in Portsmouth and Dublin of a further 1,000 and 400 beds.

Martin Magee, managing director of McAleer & Rushe Contracts UK, said: "These new UK contracts are a testament to all of those in our design and build management teams.

"They have earned McAleer & Rushe an enviable reputation of delivering, even the most challenging projects on time, and on budget. They deliver solutions that cement client loyalty and drive our order book."

A spokesman said McAleer & Rushe had been successful in attracting big institutional and corporate UK clients.

The company has also filed results for a separate entity McAleer & Rushe Group for the 18 months to September 2014 which showed turnover of £68.4m reflecting a pre-tax profit of £1.7m.

Finance director Eamon Higgins said: "McAleer & Rushe Contracts UK is in line to generate turnover in excess of £200m for 2015.

"We are very confident that we can continue to deliver strong growth over the next few years," he added.

"We are in the very fortunate position of having an increasingly strong order book not only on the UK mainland, but also in Northern Ireland and the Republic of Ireland."

McAleer & Rushe recently announced that it is developing a new 100,000 sq ft office for Belfast City Council, on the Clarendon House site on Adelaide Street in Belfast.

It also revealed it has submitted planning applications to develop two major student housing schemes delivering 1280 rooms for central Belfast.

Belfast Telegraph

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