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High Ambitions from Be First House Builders

The well-known UK development company, Be First, has planned to build over 900 homes more than the figure that was first envisioned  when the firm launched two years ago.

Started by Barking and Dagenham council in East London, the company now aims to develop over 3,080 more homes for the council which is over 40% more than the initial intentions of the firm. Around 75% of the total figure of homes to be delivered would be considered affordable.

As for the financial approach, this council funded process will cost around £777m which is $148m more than predicted for the 2017/2018 business run, yet these ambitious targets show promising value for the money spent.

Ian Ferguson, the commercial director of Be First, stated that the target was ambitious however, also “entirely achievable”. According to Ferguson, the firm expects to deliver a cash surplus to the council by the end of this year.

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Ferguson says, “We are on track to deliver £49m towards council services over the next five years, which will help pay for essential services the government no longer funds.”

Ferguson said that they wished for private developers to ensure that at least 25% of their workforce used in the schemes were locals to the area, working to improve delivery rates and construct “as much affordable housing as possible”.

Over the next five years, Be First holds many plans for the construction industry and hopes to encourage the private sector to develop 6,800 homes in addition to the 3,088 homes that it is planning to build, setting out great expectations for the UK housing market.

 

Specialists in Construction Insurance

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