UK shed builder to ramp up build-to-rent work

The country’s biggest industrial shed builder is planning to ramp up its fledgling student and build-to-rent housing activities.

Northampton contractor Winvic will expand its multi-room building business over the next 18 months, raising its contribution to group revenue from 20% to 35%.

Managing director Simon Girardier predicted the fast-expanding group would top £500m turnover in 2018 on the back its core shed building business and growing demand for student room and rented apartments.

Formed in 2001, Winvic lays claim to being the UK’s leading ‘shed’ specialist, delivering millions of square feet every year for the industrial and distribution sector.

Since 2011, Winvic has transformed from £111m revenue builder making a £3m profit to a large diversified construction group.

In the year to January 2017, pre-tax profits soared 30% to £28.5m on revenue up 10% to £462m. During the year total staff numbers rose by 38 to just 177.

Girardier said: “In June 2016, the Brexit vote did have an immediate impact on orders being delayed on a few projects.

However most of these projects have now proceeded and the forecast turnover to January 2018 is £510m.

He said that Winvic had already completed 2,468 beds for the student and private rental sector.

It is now targeting further growth in the Midlands where demand is soaring.

“The market has a projected £10bn investment coming from the UK and overseas investors.

“This has led to the multi-room division securing £128m turnover across the next two financial years, with workload comprising 870 apartments and 1,122 student beds for delivery by the end of 2018/19.”

He aded that Winvic had a further £150m of unsecured turnover presently under negotiation.

 

from Construction Enquirer http://www.constructionenquirer.com/2017/11/02/uk-shed-builder-joins-build-to-rent-housing-chase/

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