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Torsion Makes Manchester Move
The construction and property business, Torsion Group, has secured four new major construction projects totalling £114m including its first development in Manchester.
The business has been won by Torsion’s Residential and PBSA (Purpose Build Student Accommodation) division.
The recent series of new business wins means that the Torsion Group is on course to top £122m turnover in 2023.
The four schemes are a £46m residential development in Birmingham for Select Property; a £25.9m residential scheme in Manchester; a £10.2m student accommodation scheme in York; and a £32m student accommodation scheme with Bricks Group.
Due to the challenging market conditions over the last few years, the company has utilised its design-to-budget philosophy to secure these schemes. All four developments are design and build and are being delivered by Torsion Construction.
A transition over the last five years into the group becoming a developer, builder and operator, has been led by its CEO, Dan Spencer.
Other major projects currently underway include Phoenix in Leeds, Torsion’s first build to rent (BTR) scheme, which is on track to complete at the end of 2023. The company is proactively involved in negotiations with a number of key equity partners on other major BTR platforms.
Spencer says: “With the developments and operational businesses thriving and such an exciting period of growth within the construction business, I will be taking a more hands-on role in leading the construction part of the group throughout the growth period, providing additional stability, growth and continuity.
"This is an exciting time for our business with the growing pipeline of student and residential schemes as well as expansion into the Manchester region.
“The development will deliver high-quality residential accommodation in a city centre location that will contribute to the thriving Manchester economy.”
Picture: Torsion’s Lancaster Wharf in Birmingham.
Article written by Brian Shillibeer
27th April 2023