Torsion Group has secured four new major construction projects totalling €129.7m (£114m) within our Residential and PBSA (Purpose Build Student Accommodation) division, including our first development in Manchester.The recent series of new business wins means that the Torsion Group is on course to top €138.8m (£122m) turnover in 2023.
The four schemes are; a €52m (£46m) residential development in Birmingham for Select Property; a €29.4m (£25.9m) residential scheme in Manchester; a €11.6m (£10.2m) student accommodation Scheme in York; and a €36.4m (£32m) student accommodation scheme with Bricks Group (for its true student brand). Due to the challenging market conditions over the last few years, the company has utilised its design-to-budget philosophy to secure these schemes. All four developments are design and build and are being delivered by Torsion Construction.
Dan Spencer, chief executive at Torsion Group, said: “With the developments and operational businesses thriving and such an exciting period of growth within the construction business, I will be taking a more hands-on role in leading the construction part of the group throughout the growth period, providing additional stability, growth and continuity. This is an exciting time for our business with the growing pipeline of student and residential schemes as well as expansion into the Manchester region. Our first scheme in Manchester signifies a new chapter in our growth and is the first of a number of higher value projects that we are pursuing in the North West. The development will deliver high-quality residential accommodation in a city centre location that will contribute to the thriving Manchester economy. We have invested in our business to ensure we have the right calibre of staff and infrastructure to deliver all our schemes. The new developments will deliver significant progression in achieving our business growth plan, which has strong foundations on our strategy of recruiting the best people in the industry.”