Member Article

North East regeneration business brushes aside Brexit fears

A leading North East construction company has forged ahead since the Brexit vote and is about to embark on a string of new projects.

Despite post referendum fears of an industry slowdown, regeneration specialist Galliford Try Partnerships North is also celebrating selection for development frameworks involving projects worth over £60 million.

Within the next few weeks, it hopes to be on sites in Blyth, Chester-le-Street and Killingworth, with projects worth almost £16 million that will deliver 104 new homes.

In addition, the company has been selected by housing provider, Thirteen, to be one of seven construction partners that will bid to deliver up to £45 million worth of projects and by the Riverside Group for its ‘cutting edge’ framework, under which four partners will bid to deliver up to £16 million worth of work. All of this is in the North East.

Said Stephen McCoy, Managing Director with Galliford Try Partnerships North: “It’s true that after a huge expansion over the past few years we have seen the industry slow in recent months but fortunately we have been successful in securing new work which enables us to continue our expansion. We are delighted to have been able to forge strong and successful relationships with our partners and I think this has been the catalyst for selection to carry out work on a repeat basis.”

Since 2012/13 the business’ annual turnover has grown from just over £8 million to an almost £60 million this year.

The projects about to begin include a mixture of homes for sale, shared ownership and rent, which are designed to provide more opportunity for people to enjoy the benefits of living in modern, purpose designed energy efficient homes.

The first scheme likely to go live is on the site of a former residential home in Chester-le-Street. Here, 20 three bedroomed houses and two, two bedroomed flats will be constructed, all for affordable rent through Cestria Community Housing, part of Isos Housing Group.

A similar project with the Riverside Group at Camperdown in Killingworth will provide 10 two bedroomed houses, 26 three bedroomed homes and four two bedroomed bungalows. These will all be for shared ownership.

Then, subject to planning permission, In October work will commence at North Farm, Blyth on behalf of the company’s new homes division – Linden Homes. This will create 22 four bedroomed properties, 19 with three bedrooms and a two bedded bungalow. Four of the three bedroomed houses will be sold at 10% lower than the true market value in order to help make home ownership affordable to more people.

This was posted in Bdaily's Members' News section by Paul Dobbie .