The firm set the landmark spending target to promote trading with social enterprises just over three years ago.
As one of the founder members of the Buy Social Corporate Challenge – launched by SE UK and The Cabinet Office – it committed to every project it managed trading with at least one Social Enterprise, and set annual spend targets for each business unit.
Wates now runs an internal online directory of local social enterprise suppliers to drive the commitment.
Suppliers include everything from catering to cleaning, waste recycling, landscaping and signage.
Su Pickerill, Wates Group Community Investment Manager, said: “We are proud to have achieved the £20m target ahead of schedule.
“For every pound we spend with a social enterprise we generate around £1.77 of social impact – through delivering additional benefits to society such as access to employment, or training, and we can be confident that we are leaving a positive legacy for the communities we work in.”