A solid pipeline of accommodation sector schemes has given new construction group Torsion a strong platform for future growth across the North and Midlands. A total of nine schemes were secured in Torsion’s first year, and turnover is on target to hit just below £22m in its second year.
Managing Director, Dan Spencer, a student accommodation sector specialist, established Torsion in early 2015 and now the company plans to add to its team of 24 people based at its offices in West Yorkshire and the Midlands, with a third office planned for Manchester later this year.
Torsion completed a part-started £6.6m 259-bed scheme on the former ambulance station in Selly Oak, Birmingham for Crosslane Developments with an exemplary health & safety record, a high quality finish and on budget in September.
Its string of first year contract wins also include Torsion’s second for Crosslane, a £6m 140-bed student accommodation scheme in Newcastle due for completion in summer 2016; a 48-bed student scheme for Worcester Properties due for completion in August 2016; and a large residential housing scheme in Yardley for Tree Tops Homes due for completion in May 2016.
Dan Spencer believes Torsion’s success is down to a back-to-basics approach and its partnering ethos, which aim to avoid the waste and red tape the corporate construction world is creating.
“Importantly we’ve gone back to basics and look to employ the best people in the industry and allow them to do their job. We are a vibrant young company that has demonstrated our ability to deliver high value and difficult schemes in the first 12 months of operation. We have secured all of our workload on a negotiated basis with clients who enjoy working with us as we deliver on our promises and offer realistic advice,” he said.
“We’re working with clients who value our ability to cost plan schemes at an early stage then deliver on this promise in a volatile market. We’re able to do this as a lot of our supply chain partner with us at an early stage to help design the scheme to a budget and offer the best value in terms of cost, programme and health and safety.”
Key to the success of this approach is Torsion’s commitment to paying sub-contractors within 28 days and on time. Dan believes that by operating efficiently, companies are keen to work with Torsion and prioritise the service they get.
“This has been a year of solid progress for the business, and we are excited at the prospects for further growth in new sectors and geographic areas,” said Dan.