Wates Property Services targets £500m sales by 2024

Aaron Morby 6 months ago
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Wates Property Services, the Wates Group’s newest business unit, has hatched ambitious growth plans for the next four years.

The business, formed from Wates Living Space and Wates FM, last year aims for a combined annual turnover of £500m revenue by 2024.

The expansion drive comes after WPS first year of operation, marked by the launch of Wates FM as a national services business.

Going forward, Wates Living Space aims to build on core repairs and maintenance work with expansion in Fire Risk Assessments, compliance and cladding markets.

Also WPS will grow its investment in sustainable technologies to support Wates Group’s wider commitment to achieving zero waste and carbon from its operations by 2025.

Through its combined operations, WPS manages 500,000 homes and 350 commercial buildings on behalf of 85 key clients across 14 different sectors.

David Morgan, managing director of WPS, said: “2019 was an incredible year with the launch of Wates Property Services, where we began to maximise the synergies of both Wates Living Space and Wates FM to present an even stronger proposition to existing and prospective clients.

“Throughout the year Wates Living Space grew in its core responsive and planned maintenance sectors, while cementing its position as a leading and innovative service partner in the vital work being done across the industry in FRA and compliance.

James Gregg, managing director of Wates FM, added: “A key area of our business development strategy has seen us expand our presence in the public sector, which we intend to grow in 2020 as we look to build on the great work being done on behalf of West Midlands Police.

“We will also continue to support some of the UK’s critical infrastructure through our total FM services for Smart DCC and mechanical and electrical services on behalf of HMRC.”

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