The new contractor Real is targeting housing-led, new build projects with local authorities, housing associations and private clients in London, the South East and South West.

These businesses are completely separate to Rydon Maintenance which worked on the Grenfell Tower.

Nicholls, who has 25 years’ construction and regeneration experience, starts with a pipeline following the transfer of around 10 projects from Rydon Group last month.

Now the Real chief executive plans to build to an annual turnover of £300m.

“This is an important day for the people and clients of our new business. I have spent the last six weeks welcoming the new team to Real and ensuring that we have everything in place to find solutions to the development challenges our clients and partners face.”

He added: “Residential-led construction and regeneration is at the heart of what we do, and it is an exciting time to be launching a new business in the sector.”

“We bring a wide range of development expertise to the table, including affordable and social rent, shared ownership, education and commercial developments. Our aim is to work in partnership with local authorities, housing associations, retirement living and other housing providers to build new communities that create opportunities for residents in places they can afford to rent or buy.”

Just last week Real won a place on a South East Consortium framework to build affordable homes over the next three years.

The SEC – which is owned by its 41 housing association and local authority members – expects the framework to be used by its members to build new homes and other projects worth around £250m in total.