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Business & Economy

Howard Russell boosts presence in industrial property market with £30 million contract wins

Howard Russell Construction has secured contracts worth £30 million for a range of projects across the UK’s industrial property market.

The news follows the Cramlington-based construction company’s successful completion of Faltec’s new 120,000 sq ft industrial facility at IAMP in Sunderland and an £8 million project in Nottingham on behalf of Chancerygate.

Recent contract wins include the construction of 23 new industrial units split between Haddenham and Sittingbourne as part of £11 million worth of speculative development by Tavis House.

In Frimley, Howard Russell has also been appointed to deliver three speculative properties by Orchard Street Investment Management on behalf of St James’s Place.

Further projects worth a cumulative £16 million are due to commence later this year.

The new work has led to a number of professional appointments including three quantity surveyors, a project manager, an M&E services manager and a design manager, taking the team’s total headcount to 26.

Howard Russell saw turnover in excess of £22 million in the last financial year and has appointed David Varty to chairman of the board and Craig Muldoon to managing director.

Commenting on the firm’s growth, David Varty said: “We have worked hard in recent years to establish ourselves as a leading industrial contractor on a national level and now we are seeing the benefits of this investment.

“Despite economic uncertainties in many areas, the industrial development sector continues to perform strongly and we are very well placed to build on our recent successes to target further growth.

“We have the right team in place to drive the firm forward and this is the right time for me to change my own role. I have every confidence in our directors and all of the talented individuals within our growing team.”

Craig Muldoon added: “The last 12 months have seen us take another big step forward. We have certainly cemented our reputation as a company which delivers innovative construction solutions that our clients can rely on, whether they are developers or occupiers.

“We are large enough to handle substantial projects in any location but remain a close-knit agile team. Despite the challenges of the recent Covid-19 pandemic the outlook is exciting, and I am optimistic about what the future holds for us.”