Salboy Construction was established in April 2024 initially focused on supporting some of the group’s own developments as well as select sites financed by the groups’ investment arm Salboy Capital.
The contracting division has grown to a team of 16 construction professionals, quantity surveyors and procurement specialists and has delivered 120 homes with a further 139 currently under construction.
Andrew Cavanagh, CFO of Salboy said: “The outlook for housing developers, fundings and associations shouldn’t look as bleak as it does.
“Buyer demand is robust, finance is accessible, and the supply:demand ratio for new housing in this country is skewed heavily in their favour. But the difficulty of securing capable construction partners to build in locations where houses are most needed is reaching fever pitch.
“Across the country, developers’ schemes are slowing down, stalling altogether or taking years to get out of the ground because suitable contractors cannot be mobilised quickly enough or with sufficient certainty that they can deliver on time and on budget.”
“Over the past few years, more and more funds, banks, housing associations and registered providers of social housing have approached Salboy to help bring their projects forward.
“Until this point, capacity was our only constraint. We’re excited that now, thanks to Salboy Construction, we can start saying ‘Yes’ to more of these projects and bring forward more homes where they’re desperately needed.”
The business operates through a hybrid delivery model, combining its own direct delivery teams with a national network of trusted regional partners, including Salboy’s long-standing partner in the Northwest, Domis Construction.
Salboy Construction said its home-grown procurement network enables regional partners to save up to 20% on common building materials giving SME partners access to the buying power and supplier relationships normally reserved for Plc housebuilders.
Stephen Ward, Construction Director at Salboy: “Anyone working in the construction space today will have seen good housing schemes stall, not because demand wasn’t there, but because the right delivery partner could not be secured or retained.
“That is exactly the gap Salboy Construction has been created to fill. In a short space of time we’ve been able to show developers and funders we’ve the right mix of domain expertise, supplier leverage and tenacity to bring greater certainty to schemes that might otherwise struggle to get off the ground.”
