Our MD Oliver West reflects on how we’ve navigated another challenging year, our company highlights and what lies ahead.
Rising interest rates, materials shortages, skills gaps and economic uncertainty are just some of the factors that have continued to challenge the construction industry this year. As a result, most of 2024 has mirrored 2023 presenting various hurdles for contractors especially around project planning and management.
As a business that’s been established for 30 years, we’ve learned lots of lessons along the way. We’ve developed the knowledge to weather the storm and maintain momentum in difficult times. In 2024, this has seen us focus on strengthening our supply chain, collaborative working and diversifying our pipeline. This has translated into the delivery of projects across sectors, including housing, education, offices and industrial.
Key project highlights
We kicked off the year winning one of our largest contracts – a £6.7m assisted living scheme for Thorngate Churcher Trust, a charitable registered social landlord. Applying modern methods of construction, work is progressing well with the development on track to hand over in Summer 2025. Once complete, it will offer 30 new homes for the over 50s, communal facilities, car parking and landscaped grounds.
In the education sector, we completed a £2m extension at Cliffdale Primary Academy in September 2024. providing much-needed space and resources for pupils with complex learning difficulties. The school now benefits from three extra classrooms across two single-storey extensions, a refurbished music room and enhanced outdoor facilities, including a resurfaced MUGA and new nature area.
With overall funding for schools set to increase next year, our experience of working in educational settings puts us in a strong position for 2025.
With Glenigan predicting a strong bounce back in the offices sector in 2025, we saw the first signs towards the latter part of 2024. Our team was appointed to refurbish the head office of the Institute of Healthcare Engineering and Estate Management (IHEEM). As well as modernising the accommodation for staff, the upgrade has enhanced environmental sustainability.
As office refurbishments are expected to rise next year in line with hybrid working trends, we are confident we can continue to bolster our portfolio in this sector.
Residential resilience
Despite economic uncertainty and a decline in consumer spending, we maintained steady momentum in the private residential sector. Our trusted partnerships with architects continued to drive repeat business, as demonstrated by our transformation of a former care home into a luxury family residence. We delivered an internal and external refurbishment for the prominent character property situated next to the grounds of Guildford Castle.
The success of this project led to the award of a similar-sized refurbishment project which transformed a large residential property in South West London.
Looking ahead
The outlook for 2025 is largely positive, with Glenigan’s Construction Industry forecast highlighting increased private sector confidence and public investment as key drivers of recovery. Stronger household incomes from 2025 will make a difference too, benefiting private housing as well as the retail, hotel and leisure construction sectors.
With construction inflation predicted to return, raising tender prices, challenges will remain across the supply chain. As advised by cost consultants Turner and Townsend, this trend will reinforce the need for greater collaboration where contractors are seen as partners rather than suppliers. As strong advocates of this model, which encourages shared risk and reward, we hope to see it reflected more widely across our industry, boosting its resilience.
In the meantime, we remained focused on our family values and exceeding our clients’ expectations, so that we can seize emerging opportunities and continue delivering exceptional projects.
Comments