Member Article

Construction firm opens Tyneside office after rapid expansion

A construction services firm has launched a new operation in Tyneside after recording rapid growth in the last year.

TW Construction, which was founded by entrepreneur Tony Whelan in 2011, achieved revenues of around £500,000 in each of its first two financial years as the market recovered from the recession.

But in the last twelve months the business has seen turnover head towards the £5m mark due to a surge in demand in the construction and property maintenance markets.

Now with the help of chartered surveying firm Bradley Hall, the firm has opened a new office in Low Fell to service its Tyneside clients, which include Vertu Motors and Jennings Ford.

Bradley Hall assisted Mr Whelan in the £185,000 purchase of the three-storey building, which is based on Durham Lane. Mr Whelan then leased the vacant part of the property back to TW Construction, which has taken the first floor. The ground floor and basement is currently occupied by S’n’S Hair Design, a hairdressing and beauty salon, which will remain in the building as part of the deal.

Mr Whelan, who has more than 30 years’ industry experience, described the investment as “an excellent opportunity” that would help TW Construction maintain steady growth and take on extra staff.

He said: “We are moving from our original base in Wynyard to bigger premises in close proximity to our clients in the north of the region. We needed help from a company that had knowledge of the local market and Bradley Hall negotiated a sale and leaseback deal for a property in an ideal location for us.

“It positions us well for further growth, particularly in the building maintenance market where we have won a significant amount of work. However, we will still be able to service our clients in the south of the region from our Low Fell base.”

Neil Hart, director at Bradley Hall, said: “The fortunes of the construction and property market often go hand in hand and both have been buoyant in recent months. This explains the growth of TW Construction and the influx of commercial and residential buildings that have come onto the market.

“We are also seeing an increase in transaction rates and a subsequent reduction in the number of empty offices and industrial properties. We are a million miles away from the recession, when buildings were unoccupied for months on end.

“TW Construction’s move to Tyneside is a key part of Tony’s bold and ambitious plans for the business and we wish him well.”

For further information, please visit www.bradleyhall.co.uk or call the Grey Street office on 0191 232 8080.

This was posted in Bdaily's Members' News section by Bradley Hall .