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Salboy Construction was established in April 2024 initially focused on supporting some of the group\u2019s own developments as well as select sites financed by the groups\u2019 investment arm Salboy Capital.<\/p>\n
The contracting division has grown to a team of 16 construction professionals, quantity surveyors and procurement specialists and has delivered 120 homes with a further 139 currently under construction.<\/p>\n
Andrew Cavanagh, CFO of Salboy said:\u00a0\u201cThe outlook for housing developers, fundings and associations shouldn\u2019t look as bleak as it does.<\/p>\n
\u201cBuyer demand is robust, finance is accessible, and the supply:demand ratio for new housing in this country is skewed heavily in their favour. But the difficulty of securing capable construction partners to build in locations where houses are most needed is reaching fever pitch.<\/p>\n
\u201cAcross the country, developers\u2019 schemes are slowing down, stalling altogether or taking years to get out of the ground because suitable contractors cannot be mobilised quickly enough or with sufficient certainty that they can deliver on time and on budget.\u201d<\/p>\n
\u201cOver the past few years, more and more funds, banks, housing associations and registered providers of social housing have approached Salboy to help bring their projects forward.<\/p>\n
\u201cUntil this point, capacity was our only constraint. We\u2019re excited that now, thanks to Salboy Construction, we can start saying \u2018Yes\u2019 to more of these projects and bring forward more homes where they\u2019re desperately needed.\u201d<\/p>\n
The business operates through a hybrid delivery model, combining its own direct delivery teams with a national network of trusted regional partners, including Salboy\u2019s long-standing partner in the Northwest, Domis Construction.<\/p>\n
Salboy Construction said its home-grown procurement network enables regional partners to save up to 20% on common building materials giving SME partners access to the buying power and supplier relationships normally reserved for Plc housebuilders.<\/p>\n
Stephen Ward, Construction Director at Salboy: \u201cAnyone working in the construction space today will have seen good housing schemes stall, not because demand wasn\u2019t there, but because the right delivery partner could not be secured or retained.<\/p>\n
\u201cThat is exactly the gap Salboy Construction has been created to fill. In a short space of time we\u2019ve been able to show developers and funders we\u2019ve the right mix of domain expertise, supplier leverage and tenacity to bring greater certainty to schemes that might otherwise struggle to get off the ground.\u201d<\/p>\n<\/p><\/div>\n