Styles & Wood secures new Liverpool contract

AIM-listed integrated property services specialist Styles & Wood has secured a contract to deliver the fit-out and refurbishment of the India Buildings in Liverpool on behalf of its client Shelborn Asset Management.

The works will consist of a category A fit-out, which involves major refurbishment to the Grade II listed building including the provision of office space, remedial works and major external repairs to ensure it is viable as fully working building. When complete, the building will be leased back to HMRC for use as a 'supercentre'.

The contract, which will span a 72-week period, is expected to contribute around £38.25m of revenue over its duration.

Chief executive Tony Lenehan said: "We are delighted to have won the contract to deliver this major refurbishment and fit out project for Shelborn Asset Management and are confident that we can contribute to the creation of an exciting state of the art workplace environment for HMRC.

"India Buildings is one of the most iconic buildings in the North West and will provide an important contribution to the Government's National Hubs Programme. It is testament to our unique skills and capabilities in that we are able to support this national programme at a strategic level."

At 0945 GMT, the shares were down 0.1% to 457.15p.