State-backed modular firm moves into spec housing
Inside an Ilke Homes factory.
Modular outfit ilke Homes has moved into speculative housing development and opened new offices in London, Birmingham and Bristol.
The firm has also promoted managing director Ben Miller, formerly of Crest Nicholson, to become CEO of the new spec housing business, which will manage all sales of homes to customers, including housing associations, local authorities and private developers.
The manufacturing and development side of the business will continue to be run by executive chairman Dave Sheridan.
The expansion plan means ilke Homes can offer a turnkey service, acquiring land, securing planning, delivering construction through its factory-built modules, and selling to the market.
Last year, the offsite specialist announced a £30m investment from Homes England and a £100m development partnership with Places for People.
It has ambitions to deliver 5,000 homes a year by 2025, a level that would establish the manufacturer as a top-10 housebuilder. Ilke Homes says it has a development pipeline of around 3,200 homes, which has almost trebled from 1,200 homes a year ago.
Miller said: “For Britain to recover quickly from Covid-19, the construction sector needs to be able to respond fast. Having a presence in every region will allow us to support councils and housing associations, which have a real opportunity to speed up their housing delivery with high-quality, eco-friendly homes that can be manufactured and installed quickly, while fully-complying with social-distancing measures.
“Having a turnkey offer – where we acquire land, get consent and supply finished modules – will enable us to support clients who want to bring homes to the market more quickly. The in-house team we’ve established has huge experience and while there will absolutely be challenging times to come, I am confident we are well-placed to tackle them head-on.”