Wates Property Services targets £500m sales by 2024

Aaron Morby 3 years ago
Share

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.”

Latest news

Eric Wright wins tricky £52m Liverpool transformation

Contractor working with engineers at Ridge and Partners on "challenging" Stanley Lock Flight site
1 day ago

Investment giant buys Bristol M&E contractor

RDCP Infrastructure acquires Avon Combined Electrical Services
1 day ago

Demolition start for £50m Farnworth town centre rebuild

Caddick Construction is tipped for main works due to start in the spring
1 day ago

L&G Modular strikes deal to build 1,000 affordable homes

Modular homes business teams up with Hampshire's Vivid housing association
1 day ago

Former Erith operations director joins John F Hunt

Scott Exell named new operations director at demolition specialist John F Hunt
2 days ago

Green light for £135m Leeds twin tower resi scheme

Construction to start in New Year on 500 build-to-rent apartments
2 days ago

Mace hits 1m tonnes carbon saving target for clients

Present work pipeline betters 2026 carbon emission saving target
2 days ago

Plans in for £40m surf park at former Kent colliery

Seahive surf lagoon and health resort will be built near Deal
2 days ago

Crushed demolition worker vows to return to industry

Shannon Brasier hoping to return to construction following horror accident
2 days ago

Mount Anvil to start 900-home North London estate rebuild

Planning approval paves way for Barnsbury Estate rebuild in Islington
2 days ago

Green light for major laboratory campus in Cambridge

Developer BioMed to tender first building on 600,000 sq ft lab complex in the New Year
2 days ago

Belfast firm signs the biggest work deal yet under Project Gigabit

Fibrus to hook-up rural Cumbria to lightning-fast broadband under £108m deal
2 days ago

McLaren wins Leeds logistics park contract

Work to start imminently on warehouse complex for Firethorn Trust
3 days ago

Work restarts on £683m waste power plant after site death

Construction suspended for a week of investigations following fatality
3 days ago

Demolition starts on £135m Wigan Galleries scheme

Contractor BCEGI starts work on project to redevelop Wigan town centre
3 days ago

Amey CEO to step down following private equity buyout

Amanda Fisher to leave once business is transferred to new owners
3 days ago

New body set up to vet plant operator card schemes

Contractor trades bodies unite to tackle competency concerns over plant operator skills cards
3 days ago

Kier leads switch to hybrid battery generators

Battery units work alongside smaller generators cutting run times by nearly 60%
3 days ago

Plans in for first Leeds co-living scheme

Watkin Jones submits plan to convert old Direct Line HQ into 230 studio flats
3 days ago

Demolition worker crushed by excavator

Court hears 20-year-old woman was left with "life changing injuries"
4 days ago

Government pays £700m for 50% stake in Sizewell C

New body, Great British Nuclear, will be set up to develop pipeline of nuclear projects
4 days ago

Costain wins Heathrow Airport asset renewal deal

Firm takes early contractor involvement role in Terminal 2 baggage handling upgrade
4 days ago

Worker killed on £683m waste power plant site

Fatal collision involving heavy goods vehicle on giant north London site
5 days ago

HS2 JV shifts four Wembley Stadiums of earth in record time

EKFB team digs and hauls 15 million cu m of muck in 20 months
4 days ago

Milestone wins £300m Wiltshire highways upkeep

Ringway will hand over to Milestone in March next year
4 days ago

Low-risk business model helps Renew post record results

Renew reveals latest acquisition with £15.6m purchase of water specialist Enisca
4 days ago

London Albert Embankment hotel towers approved

Two separate hotels rising to 26 and 29 storeys approved
4 days ago

Keltbray names new director of strategic engineering

Tim Lohmann takes up newly-formed role to drive innovative engineering solutions
4 days ago

Go-ahead for £200m lithium refinery on Teesside

Work to start next year on Europe's first lithium hydroxide processing plant
5 days ago

HS2 agency workers paid the wrong wages

Payroll software problems leave workers out of pocket
5 days ago

Contractor services