UK: Leeds-based construction company Torsion Group has secured four new major construction projects worth £114 million for its residential and PBSA division.
The four schemes are a £46 million residential development in Birmingham for Select Property; a £25.9 million residential scheme in Manchester; a £10.2 million student accommodation scheme in York; and a £32 million student accommodation scheme with Bricks Group (for its true student brand).
All four developments will be delivered on a design-and-build basis and are being delivered by Torsion Construction.
In addition to the new contract wins Torsion Group has a significant development pipeline, with four major projects currently consented or in planning in Birmingham, Leeds, Sheffield, and Coventry to deliver 881 beds by 2025.
Torsion Group successfully handed over two PBSA schemes in 2022 – Compass, a 290-bed scheme in Birmingham and Trapezium, a 91-bed scheme in Leeds.
Other projects currently underway include Phoenix in Leeds, Torsion’s first BTR scheme, which is on track to complete at the end of 2023. The company is involved in negotiations with a number of key equity partners on other major BTR platforms.
Dan Spencer, chief executive at Torsion Group, said: “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.”
“Our first scheme in Manchester signifies a new chapter in our growth and is the first of a number of higher value projects that we are pursuing in the north-west. The development will deliver high-quality residential accommodation in a city centre location that will contribute to the thriving Manchester economy. We have invested in our business to ensure we have the right calibre of staff and infrastructure to deliver all our schemes. The new developments will deliver significant progression in achieving our business growth plan, which has strong foundations on our strategy of recruiting the best people in the industry,” he added.
