Home builders : Non-essential maintenance work in homes allowed from 26 April. Scottish home builders are keenly awaiting the planned 26 April lifting of restrictions which have prevented workers from entering customers’ homes for non-essential aftercare work during the latest lockdown and over a large part of the last year.

This is one of the top priorities for the Board of trade body Homes for Scotland (HFS), which met last week, coinciding with the positive news that the industry had achieved a record level of customer satisfaction with 91% of customers willing to recommend their builder to a friend.

HFS Chief Executive Nicola Barclay said:

“As every new home is a bespoke product, there will inevitably be some aftercare required but, for much of the last year, builders have been unable to undertake anything other than essential work in people’s homes.  “Our members tell us that customers have been extremely patient as they recognise the Scottish Government-imposed lockdown restrictions have been for their own safety, but the end of April really can’t come soon enough. Undeniably, there will be a backlog to work through, but our members are busy preparing for that challenge and are keen to resolve any outstanding issues for their customers as soon as they can.”

Property & Development Magazine

Aberdeenshire Housebuilding and Construction : Bancon Group reports positive trading performance, despite COVID

Bancon Group has announced positive trading results for the year ending 31 March 2020.

A marked improvement in margins at the Aberdeenshire housebuilder and construction group led to an increase in operating profit from £10.3milion in 2019 to £13.2million. This is despite turnover dropping from £92million to £85million as a direct result of the inability to trade during the final weeks of the financial year due to the COVID-imposed lockdown.

Since coming out of lockdown in the summer of 2020, Bancon Group has reported a strong recovery and trading performance and now has a positive forward sales position across its homes, timberframe and construction businesses.

Notwithstanding the on-going market challenges in the North-east of Scotland, Bancon Homes has continued to deliver its ambitious growth plans. Three new developments were launched in the period, with further sites secured since its year end, including its first site in the Central belt as part of its expansion outwith its traditional North-east market.

Deeside Timberframe delivered a record year after capitalising on the increasing demand for off-site construction methods by growing  repeat business with existing customers.

Trading performance and margins were ahead of expectations at Bancon Construction. This is attributed to the clear strategy of  focusing on higher margin work and extending its reach throughout Scotland.

Exceptional costs of £3million, incurred in the period, have suppressed the group’s overall position of improved margins and trading performance, resulting in a loss before tax of £0.5million in the annual accounts. These were due to a non-cash impairment to write down the value of a long-held development and a one-off loss on a historic construction contract.

John Irvine, chief executive of Bancon Group, said: “These robust results in a financial year, which was impacted by the pandemic and the subdued market in the North-east at the time, reflect the overall health of the group.  

“With significantly improved margins and trading performance across all three of our businesses, coupled with a very encouraging future order book, we have firm foundations from which to build sustainable, profitable growth once the impact of the pandemic is behind us.”

This confidence is shared by Santander who have signed a three-year extension to the group’s banking facility.

Mr Irvine added: “Three months of not being able to trade during lockdown and the subsequent reduced levels of activity as restrictions eased in 2020 will inevitably impact on our current financial year. But, thanks to actions taken and the support of our employees, we have emerged strongly and 2021/22 will see continued strong operating profits and a return to profit before tax. The longer-term outlook for Bancon Group is very promising indeed.” Bancon Group, head-quartered in Banchory, Aberdeenshire operates in North-east and Central Scotland and employs over 260 people.

Property & Development Magazine

Unique approach to solutions provision with unrivalled proposition from industry experts

A unique firm to assist businesses and help them prosper in the ‘new normal’ with an innovative approach to property and finance-based services has launched today. ARMCo is the brainchild of Birmingham-based business founder and investor Russell Martin, and combines specialist lending, corporate support, land procurement and development, and insurance services – catering for a rapidly evolving business landscape – to benefit clients with truly holistic and tailored solutions.

ARMCo is based in the heart of Birmingham’s finance district, where its HQ is the base from which the firm delivers its local, regional and national offering. It has a strong foundation: Russell formed Finance 4 Business, a specialist broker for finance transactions, 15 years ago – and used his experience, expertise and connections to form four further businesses which have grown strategically year on year, offering agile and integrated solutions to clients. With four new firms offering synergistic services added to the group, this forms the complete ARMCo offering.

Jon Preston has been appointed as Chief Operating Officer at ARMCo. Jon brings a wealth of experience, having worked at a UK-based lender which underwent a £26m MBO last year with Foresight Group, a leading independent infrastructure and private equity investment manager.

ARMCo founder Russell Martin explains: “We are living in uncertain times and a post-pandemic world looks very different for a lot of businesses. Overcoming challenges such as access to business finance, sourcing sector-based specialist risk and insurance solutions or navigating land procurement and development opportunities will have presented complexity before Covid, but the ‘new normal’ will be more challenging for many.

“The combination of expertise at ARMCo means we can deliver bespoke solutions for our clients to help them maximise growth opportunities and give them an exceptional experience. Our adept approach ensures that even the most complex of transactions are navigated with integrity, proficiency and pace. The combination of a human approach, passion and commitment of strong leaders and highly collaborative partnerships, combined with a central services approach, presents an unrivalled proposition in the UK – particularly with Jon at the helm, leading and propelling the group,” he added.

The ARMCo group comprises Finance 4 Business, Liquidity Club, Innovation 4 Business and  Walker Doble – as well as new firms Atlas Land & Planning, Midshore Partners, Chordis Capital and Cape Insurance. These are operated by industry experts Russell Martin, David Pinnington, David Totney, Philip Moore, Rebecca Doble, Marc Walker, James England and Rob Lankey and Henry Gallacher. The group offers expertise on financial solutions including asset, bridging and development finance, tax solutions and MBOs – helping SMEs in a range of sectors, property developers (including allied trades and professionals) and investors.

One such business benefitting from ARMCo’s expertise is Fitzpatrick Group Ltd – a housing delivery service provider with a requirement for finance provision to aid its expansion into a number of specialist sub sectors. The firm’s Managing Director, Mark Fitzpatrick, explains: “I have worked with Russell for more than a decade, initially through Finance 4 Business (F4B), through which I have had in excess of 25 loans arranged for me, across many disciplines and through a multitude of different lenders, from commercial mortgages, Buy-To-Let and bridging loans, to development and asset finance. The attention to detail, end-to-end service and dedication has been a staple feature of the service. 

“The evolution of ARMCo has seen the inception of some great businesses led by fantastic people, with whom I have transacted on many occasions, with great satisfaction and results. The launch of ARMCo makes absolute sense and I have no doubt Russell and his team will go from strength to strength.”

Russell concluded: “Success in any business involves being able to navigate a market, identify business opportunities and be agile enough to be able to plug gaps in the market. I have applied that formula to my businesses, and the ARMCo offering can now support businesses in realising their ambitions, as we all try to navigate our way through these turbulent times. We are a group of companies built on strong relationships, not transactions, and I’m delighted to have such robust and proven expertise on board at ARMCo. We have ambitious expansion plans, and will be adding more companies to provide further synergy within the group.” For further information about ARMCo visit www.ARMCo.partners

Property & Development Magazine

ELLIOTT UK AWARDED THE GOVERNMENT CONTRACT TO DELIVER NEW COVID-19 TEST CENTRE FACILITIES

One of the UK’s leading modular build specialists is using its expertise gained during the global pandemic, to build new Covid-19 test centres across the UK, on behalf of the Department of Health and Social Care.

With current Covid-19 test centres operating at maximum capacity across the UK, Elliott UK will deliver the new purpose-built facilities to locations ranging from Keele in Staffordshire to Stirling in Scotland. The primary aim is to construct the facilities at pace, to meet the government’s urgent need to provide additional critical testing.

At the heart of the project will be Elliott UK’s bespoke Moduflex solution – a unique modular accommodation facility that can meet a wide range of accommodation and building design needs and prove essential to both testing and safeguarding the welfare of those involved.

The company will also be providing a queuing marquee, perimeter fencing and crowd barriers to ensure safety measures are firmly in place for both people being tested and staff on site. Workstations and lockers will also be supplied to provide employees with a safe place to store their belongings and prepare for their work on the frontline.

To keep safety at the forefront of the process, ramp entrances will be provided along with steps so that access is available for everyone who wishes to be tested. Water tanks and generators will be given so that the sites can run constantly without the disruption of power failures.

Elliott UK already has extensive experience of supporting the NHS during the current pandemic. It has provided bespoke modular solutions to the NHS Nightingale Hospital in Birmingham, alongside ten units supplied to various hospitals across Greater Manchester.

Alex Mcfie-Hyland, national business development manager for Elliott UK, commented: “The experience gained through working with the NHS during the pandemic has been invaluable and a major factor in us being appointed to deliver these new testing centres. Our ability to deliver at speed and provide a bespoke building solution that meets the highest Covid-19 health and safety standards was also paramount.

“We’ve had to adapt our business model and building solutions to the pandemic, but this can only further enhance the support and expertise we’re giving to existing clients across a range of sectors and build projects. We hope the new emergency facilities will play a major role in providing increased testing to the hardest hit areas across the UK where it is needed the most.”

Property & Development Magazine