Family property and construction firm, Jehu Group has announced that they successfully secured projects across South Wales worth over £86 million in the first quarter of 2019, seeing the company strengthen its position as an industry leader.
The projects include a number of substantial developments for the company, the largest of which being a £14m contract to develop a 105 mixed tenure site for Pobl Group in Burry Port, with a small number being allocated as affordable homes and more than 80 being open market units. Jehu will be on site in Summer 2019, with the timber-framed site being completed across three phases, plus enabling works and infrastructure. The Burry Port site is set to complete in 2022.
Simon Jehu, Managing Director of Development said: “We are delighted to get these projects over the line. They amount to more than 1,100 new homes which secures a very healthy pipeline for our residential activities. Property development is a slow business and these wins are the result of many months of hard work. We are looking forward to further build on this as we continue to grow as a Group, as we have been recruiting across the business in anticipation of this.
“The economic benefits that comes with these sites are huge and will produce a massive financial boost in the region. Also, local employment, training and upskilling opportunities will be generated at all levels, as well as developing the local supply chain. We are proud to be able to play a part in building more resilient communities while we are on site, as well as once we have handed over the keys.”
A further site is Coverack Road in Newport, which is a £10m package deal between Jehu and Newport City Homes to deliver 76 one and two-bed riverfront apartments in Newport City centre. The firm will also be continuing the regeneration of the Kingsway in Swansea by redeveloping the former office building, Orchard House to create 52 apartments as part of a further deal with Pobl Group worth £6.85 million.
Andrew Lycett, Finance and Operations Director concluded: “The growth in the business continues to be balanced across all sectors of the groups activity, with a growing commercial portfolio as our reputation and brand awareness has increased. Margins on new work are also holding up well despite an apparent appetite by some in the sector to underbid for work.”
For more information on the Jehu Group go to www.jehu.co.uk