Wates rejig to focus on construction and housing

Grant Prior 8 years ago

Wates Group is reorganising the business following recent expansion including the acquisitions of Shepherd and the Purchase Group.

The move is part of Wates’ overall strategy to grow into a £2billion business.

It will see the formation of a Construction Group business which will now include the construction divisions, SES engineering services and the Group’s overall BIM and Design function.

The expanded Construction Group business will be led by Dave Smith, Group Managing Director, Construction Group, and Chief Operating Officer for Wates Group.

The second significant move comes as a result of a change in the way the government is tackling the housing crisis.

This follows the move to develop more affordable housing and the requirement for more schemes to require investment funding.

To address this Wates has moved the housing business that has traditionally sat within Wates Living Space to now form part of the expanded Wates Residential Developments business.

This business will be led by David Brocklebank, as Group Managing Director, Residential Development Group.

Jo Jamieson will lead the Wates Living Space Homes business as part of the group reporting to David.

Living Space Maintenance will have a standalone business within Wates Group and will be headed up by David Morgan.

Andrew Davies, Wates CEO said: “This is an exciting time for our business.

“In the last 12 months we have made two significant acquisitions which have given us the opportunity to enter into new markets and expand our capabilities.

“Following the successful integration we felt there were clear synergies between some of our expanded business portfolio and also with the changing conditions within the market place we needed to refocus how we approach certain sectors.

“This realignment has also helped us to be much more clearly focused on our three key strategic markets moving into 2016; construction, property services and residential developments.

“We have ambitious growth targets set for the years ahead and we want to continue to enjoy the success we have seen over the last year, but with this we realise as a business we need to adapt and change to meet the new market conditions and also challenge ourselves in the way we work, in order to ensure we are a robust and highly efficient business.

“This is an exciting period for our business we have welcomed approximately 1,500 new colleagues in the last twelve months and seen our business transform.

“We have a strong order book of £3billion, as we move into 2016, putting us in a fantastic position to help drive us to be one of the most successful construction, property services and residential developments business within the UK.”

Latest news

Stonehenge tunnel hit by another legal delay

Court upholds latest appeal against £1.7bn scheme by campaigners
2 hours ago

Plans go in for huge Olympic Park construction hub

Bow Goods Yard could deliver 3.5m tonnes of materials a year to sites across London
7 hours ago

Surgo Construction went down owing £4.5m

Biggest creditor is Bellway Homes after dispute on housing job
9 hours ago

Plan for £100m Liverpool Baltic station

Construction work could begin next year
10 hours ago

Vistry seals £157m West London housing deal

Around 575 homes to be built at Merrick Place scheme in Ealing
9 hours ago

Streamlined Watkin Jones returns to profit in first half

Multi-room specialist sees secured work pipeline hit £1.4bn
9 hours ago

Bellway hires ex-brickie as group construction chief

James Griffin to oversee move to the Future Homes Standard and timber frame.
10 hours ago

Persimmon under fire for delays to £10m relief road

West Suffolk Council serves Breach of Condition Notices after timetable slips again
10 hours ago

BAM wins £33m Kent secondary school job

Replacement Swanley academy to be built at live school site
10 hours ago

Aluminium cladding specialist collapses

Melton Mowbray-based firm worked for several main contractors
1 day ago

Brickwork contractor Lee Marley returns to profit

Affordable and rental homes demand lifts brickwork contractor
1 day ago

Housing contractor Durkan suffers second year of losses

More fire safety provisions tip firm into £3.9m loss
1 day ago

Farrans makes breakthrough on tricky tunnel job

Tunnel under Tees latest part of new £155m water pipeline job
1 day ago

Heidelberg buys aggregates and earthworks specialist B&A

Latest deal follows acquisition of Mick George
1 day ago

Flagship biodiversity net gain scheme flawed

NAO warns Government's flagship green development scheme at risk of failure
4 days ago

Plan in for £3bn Lincolnshire mega data centre

3.3m sq ft Humber Tech Park will be one of Europe's largest data centres
4 days ago

Green light for Digbeth 1,300 homes scheme

Warner’s Fields scheme to start with excavation and landscaping of the River Rea
4 days ago

£210m M3 Junction 9 upgrade gains consent

VolkerFitzpatrick to start work in early 2025 on Winnall roundabout, near Winchester
4 days ago

United Living wins 14-year L&Q homes repairs deal

Trafford housing upkeep deal worth £205m
4 days ago

£400m Lewisham resi-led scheme advances

Land deal paves way for Amro Partners' 1,000-home London scheme
4 days ago

McLaren gets go-ahead for Grade II listed Leeds student scheme

Springfield House to be revamped and two new wings added
4 days ago

Piling giant to fit people alarms on all rigs

Cementation Skanska upgrades site safety systems
4 days ago

Vistry to make £800m profit after subcontractor cost cuts

House builder bullish about shareholder returns after asking suppliers for discounts
5 days ago

Shareholders approve £2.5bn Barratt and Redrow merger

Final hurdle is for the competition regulator to approve the deal.
5 days ago

Green light for £80m Leith waterfront revamp

Build-to-rent homes and student accommodation scheme to be built
5 days ago

Tilbury Douglas clears Interserve legacy jobs to return to profit

Revenue tops £500m in first year as standalone contractor
6 days ago

Land deal paves way for Manchester civil service office hub

Government buys five acres at former Central Retail Park
5 days ago

Speller Metcalfe wins Wolverhampton library upgrade

Full works are due to start in the autumn
5 days ago

Skills shortage puts big infrastructure projects at risk

Government failing as an intelligent client and now over-reliant on consultancies
6 days ago

Contractors face further insulation board price hikes

Cost of PIR insulation boards set to rise another 10%
6 days ago

Contractor services