Wates Property Services targets £500m sales by 2024

Aaron Morby 4 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

Equans suffers £146m loss and quits new build housing

Losses hit £99m on housing association new build work
4 hours ago

Job cuts at modular house builder TopHat

Offsite housing specialist acts in response to "challenging market"
5 hours ago

Graham wins £85m Milton Keynes Lakes Estate revamp

Enabling works start ahead of building 200 council homes
5 hours ago

Go-ahead for London’s largest estate £1bn rebuild

Spring start for first job at Stratford's Carpenter Estate scheme
19 hours ago

Costain trials electric vans on major civils sites

Green vans meet "tight budgetary requirements" in pilot scheme
22 hours ago

Green light for major mixed-use scheme in Ealing

Scheme will provide 10,915 sq ft of industrial workspace alongside 140 new homes
5 hours ago

Taylor Wimpey sees tender inflation fall to 1%

House builder retenders site work as build costs slide
1 day ago

Careys back in profit after £47m turnaround

Contracting division back in profit ahead of three-year growth plan
2 days ago

Rye Demolition goes into administration

Another specialist contractor goes under
1 day ago

Historic breakthrough for HS2’s longest tunnel drive

TBM Florence ends her 10 mile journey under the Chilterns
2 days ago

Volumetric builder Tide seals deal to start London tower

32-storey North Acton tower will consist of 462 co-living units
1 day ago

Costain moves HQ to London’s Can of Ham

Contractor makes return to London from Maidenhead base
2 days ago

Former Keltbray highways MD joins McAlpine

Vip Gandhi takes lead role at Transport division
2 days ago

Willmott Dixon exits stage left from Essex theatre contract

Contract re-tendering shines spotlight on growing schism between contractors and clients
2 days ago

Purpose build student schemes to surge again

Unite assembles record £1.3bn pipeline as fall in HMO supply boosts PBSA sector
2 days ago

Bidding starts for £1.4bn Midlands Rail Hub Alliance

Alliance will deliver upgrades to rail lines and stations around Birmingham and nearby towns
2 days ago

Brickability sounds warning over materials demand

Distributor sees lower sales lasting for longer before house building recovers
2 days ago

English Cities Fund raises extra £200m for work pipeline

Muse, Homes England, L&G partnership to double in size
2 days ago

Go-ahead for 64 homes at former Glasgow Coliseum theatre

Robertson-owned developer Urban Union to build four housing blocks at site
2 days ago

Competition probe launched into 8 major house builders

Cartel watchdog says volume house builders may have exchanged competitively sensitive information
3 days ago

Cement-free concrete firm falls into administration

DB Group also owned Pudlo waterproofing products
3 days ago

Everton Stadium now structurally complete

Laing O'Rourke lifts final concrete terrace section into place
3 days ago

HS2 launches third London Northolt tunnel TBM

1,700 tonne machine begins 3.4mile dig under the capital
3 days ago

Willmott Dixon set for Manchester science park job

Contractor understood to be in final stages of talks to land £75m Greenheys building
6 days ago

Transport jobs get £4.7bn of cancelled HS2 cash

Government details funding for North and Midlands from 2025
3 days ago

Stewart Milne went down owing supply chain £153m

So far 1,375 firms have come forward with unpaid bills
7 days ago

Didcot disaster investigation enters its ninth year

Still no answers for families of quartet killed in demolition collapse
6 days ago

Mount Anvil wins £275m Westminster estate renewal

First phase of Church Street area regeneration will deliver 400 new homes and a library
7 days ago

Trio of A47 road upgrades to go-ahead as legal challenge fails

20-month delay adds tens of millions to dualling costs
7 days ago

Skanska and Morgan Sindall win £277m duo of Cambridge jobs

Railpen awards £200m Botanic Place and £77m Devonshire Gardens office jobs
1 week ago

Contractor services