Salboy has officially launched its construction arm to the wider market, opening up the business beyond group-related schemes for the first time.
The Manchester-based developer and funder, founded by Betfred owner Fred Done, said Salboy Construction would now work for third-party developers, funders and housing associations across the UK.
Salboy Construction was established in April 2024 as a separate company within the wider Salboy group, but has until now focused on building its team, systems and delivery record while serving Salboy-backed projects.
The business was created to deliver complex, time-critical and distressed residential schemes amid rising build costs, capacity constraints and programme risk, which have slowed housing delivery nationwide.
In less than two years, Salboy Construction has grown to a team of 16 construction professionals, quantity surveyors and procurement specialists.
It has delivered 120 homes and has a further 139 under construction across Greater Manchester, Cheshire, London, Cornwall, Lincolnshire and Staffordshire.
Completed and live schemes include new-build housing in Wandsworth, Tuckingmill in Cornwall (pictured) and Tean in Staffordshire, alongside the takeover of a 70-home stalled site in Lincolnshire and the reset of two distressed urban projects in south London.
The business has also delivered a 77-home affordable housing scheme in Cornwall and has recently begun work for three registered providers, reflecting demand in cost-sensitive parts of the market.
Salboy chief financial officer Andrew Cavanagh said the difficulty of securing capable contractors was increasingly stalling viable housing schemes.
He said buyer demand and funding availability remained strong, but projects were slowing or stopping because contractors could not be mobilised quickly enough or provide certainty on cost and programme.
Salboy Construction operates a hybrid delivery model, combining its own direct delivery teams with a national network of regional partners, including Domis Construction, Salboy’s long-standing construction partner in the North West.
The structure is intended to give Salboy oversight of governance, reporting, quality and cost control across all schemes.
A key differentiator is a homegrown procurement network that allows regional partners to save up to 20 per cent on common building materials, according to the firm.
Salboy said the network gives small and medium-sized contractors access to buying power and supplier relationships typically associated with listed housebuilders, helping to manage inflation and material price volatility.
Access to the procurement network is also available to developers funded by Salboy Capital, the group’s property funding business.
Stephen Ward, construction director at Salboy, said the new arm was designed to fill a gap where otherwise viable housing schemes were unable to progress due to delivery issues.
Source: Salboy announcement
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Ben Vogel