Mears wins £120m Tower Hamlets repair deal

Grant Prior 13 years ago

Mears has won a social housing repair contract from Tower Hamlets council worth up to £120m.

Mears will takeover the contract in March from Morrison and Mitie who were previously responsible for maintenance across the east London borough.

The initial contract covering 21,000 properties is worth £60m over five years with the option of a further five-year extension.

Confirmation of the win was contained in a trading update to the City today which revealed that Mears paid just £1.5m for Rok’s social housing business in Bristol.

Mears also confirmed a ten year repair and maintenance deal with Moat Homes worth £67m  covering 15,000 properties which will start in April.

The company continues to expand in the domiciliary care market adapting properties to allow older people to stay in their homes longer.

David Miles, Chief Executive of Mears, said: “2010 has been a watershed year for Mears Group, which is now the market leader in both Social Housing and Domiciliary Care.

“We have won record levels of contracts in both divisions and completed the acquisition of Supporta, cementing our market leading position in Domiciliary Care, a market that continues to grow as care in the home is by far the most affordable solution for Local Authorities.

“Mears is well placed to lead and consolidate the Domiciliary Care market place which is some 10 years behind the more developed Social Housing market.

“We can use the experience gained in Social Housing to enhance the market efficiencies in Domiciliary Care and share the benefits with our clients.

“Targeted acquisitions will be considered in order to broaden the diversity of Mears’ Domiciliary Care offering along the services supply chain and expand the range of services provided to people in their homes.

“Mears’ clients will benefit from a national platform for the provision of an enhanced quality service provision. Mears will soon be the only Domiciliary Care operator listed in the London Stock Exchange.

“Our focus for Social Housing will be to continue growing through further contract wins, expand the geographic offering through targeted acquisitions of regional businesses with existing relationships with Registered Social Landlords and on-going innovation through further partnerships such as that with British Gas.

“We have a demonstrable track record of identifying and capitalising on inefficient markets, and developing strong strategic relationships with our clients which has sustained annual double digit growth in our earnings since coming to the Stock Market in 1996.

“Most importantly, we have the right management team in place to take our business forward and capitalise on the many opportunities in our growth markets.”

Latest project news

Galliford Try to upgrade Red Arrows base

Contractor seals quartet of RAF base upgrades
6 months ago

Galliford Try bags £87m Brent Cross build to rent job

Firm picks up another three blocks at Argent's North London £8bn regeneration scheme
7 months ago

Balfour starts £67m Edinburgh school campus

Passivhaus certified campus buildings will replace Liberton High School
8 months ago

Red wins Bristol retirement village £14m expansion

44 extra care flats to be built at former Frys chocolate factory
8 months ago

Caddick bags UK’s largest fertiliser plant job

Yorkshire contractor seals £28m contract for new plant in Yorkshire
8 months ago

Mace wins concrete bunkers for world’s most powerful laser

Firm will build two 7m tall bunkers with 2m thick radiation resistant concrete walls
9 months ago

Robertson to deliver £20m Alloa Wellbeing Hub and school

Design work will now start on Wellbeing Hub and Lochies primary school
9 months ago

Green light for Canada Water next phase of 380 homes

Zone G plan includes major resi tower, supermarket and park
9 months ago

Mace to start £230m Landsec London office job

Timber Square project will pioneer a hybrid cross laminate timber and steel superstructure
9 months ago

British Land multi-storey logistics hub approved

London urban last-mile logistics hub pipeline hits £1.3bn
9 months ago

£350m Birmingham triple tower scheme approved

Vast curving Ringway Centre to be demolished for 1,750 flats development
9 months ago

Midgard lands £245m Tottenham Hale towers

Three towers of up to 38 storeys complete north London regeneration scheme
9 months ago

Go-ahead for Wates £35m Hartlepool leisure centre job

Work on the Highlight waterfront centre to start in November
9 months ago

Green light for 690-home Birmingham Smithfield scheme

Prosperity Group plans to start work in Autumn next year on major Smithfield scheme
9 months ago

Go-ahead for 289 homes next to Saltaire World Heritage site

Ambitious plan to demolish a vacant Bradford office complex for new residential quarter
9 months ago

Plans in for 800-bed Leeds student and retail scheme

Major scheme will replace The Core shopping centre in the city
9 months ago

McAleer & Rushe awarded £60m Barking flats job

Work to start in November on near 200 rental homes project
9 months ago

ISG clinches £155m Cat D prison expansion

Firm to deliver 780 new places at three existing prison locations
9 months ago

27-storey Salford student tower approved

540-bed student block to be built on former site of McDonalds' regional HQ
9 months ago

Morgan Sindall £48m Dumfries school job approved

Building work to start before the end of 2023
9 months ago

Bouygues/Murphy JV tipped for £2.3bn Thames tunnel job

Frontrunner emerges for Lower Thames Crossing 4.2km tunnel job
9 months ago

Vinci/McAlpine JV to start £105m NHS rehabilitation centre

Treasury clears New Hospital Programme job to start main construction
9 months ago

Three giant lab buildings approved at £700m Oxford R&D district

Phase 2 Oxford North office and lab buildings to deliver 460,000 sq ft of space
9 months ago

RG Group to build tallest student block in the world

Contractor confirmed on 45-storey tower in Leeds
9 months ago

Vinci wins major St Helens town centre revamp

£90m first phase includes new market hall, 120-bed hotel and over 60 flats
9 months ago

Work to start this year on Manchester £250m spa resort

Developer Therme gets green light for re-engineered 28-acre Trafford complex
9 months ago

Barhale JV sign-off for £18m Dewsbury sewage works upgrade

Project forms part of Yorkshire Water’s £500m investment in Phosphorous removal
9 months ago

Murphy seals main build on £124m Essex station

Contractor lands main contract after successful start on enabling works package
9 months ago

GMI lands latest £42m phase of lab cluster

Citylabs life sciences complex in Manchester continues to grow
9 months ago

Green light for Canada Water commercial scheme

Twin-tower scheme will offer "a new type of office for London"
9 months ago

Contractor services