Property specialist enjoys ‘strongest start’ in decade

A North East property specialist is building momentum after recording its strongest start to a financial year in a decade.

Darlington-headquartered 186 Property Solutions, which operates nationally, has completed a busy programme of refurbishment and retrofit projects while securing a series of new contracts since its financial year began in June.

Summer work included school projects across Teesside, ranging from classroom refits and change-of-use schemes to corridor refurbishments and bespoke staircase balustrading.

The company has since secured several new contracts, including a £600,000 commercial refurbishment involving the removal of former factory machinery, returning warehouse space to shell condition and upgrading associated offices.

Its performance comes amid signs of resilience in the refurbishment and fit-out market despite wider construction sector pressures.

According to the latest Glenigan Construction Index, non-residential project starts increased six per cent during the three months to the end of August and were one per cent higher year-on-year.

Office starts climbed 61 per cent quarter-on-quarter and 44 per cent annually, driven primarily by commercial fit-out and refurbishment work, while industrial starts rose 37 per cent quarter-on-quarter.

Jonathan Carter, director of 186 Property Solutions, said: “We’ve had our strongest start to a financial year, beginning with a particularly busy summer delivering school refurbishment and retrofit projects across Teesside and continuing with a number of new contract wins.

“What we’re experiencing on the ground reflects the wider picture highlighted by Glenigan. 

“Despite the challenges facing construction generally, there’s still a healthy appetite for investing in existing buildings.

“Owners and occupiers are looking at how they can make better use of the properties they already have, whether that’s modernising them, improving energy efficiency or adapting spaces to suit the way they're now being used.

“That’s creating opportunities across a wide range of commercial and public sectors and gives us confidence that we can build on what has been a very positive start to the year.”

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