A manufacturer of innovative modular housing solutions is targeting rapid growth after moving into state-of-the-art premises with the help of the County Durham Growth Fund.
CoreHaus has set up its production facility at a 20,000 sq ft unit at Jade Business Park in Murton.
The move came about after the company’s managing director Scott Bibby began looking for premises in the North East.
He was introduced to the team at Business Durham, who told him about the County Durham Growth Fund and the space available at Jade Business Park, and subsequently put him in touch with UMi to discuss making an application for grant support through the fund.
Scott said: “As a new business, location was a critical decision for us. We knew we wanted to be based in the North East but we were struggling to find suitable premises – they were either too expensive or too old and run down.
“When we were shown the space available at Jade Business Park, which came with enterprise rate relief and the potential of grant support to help with the move, it was a no brainer really.
“The team at the County Durham Growth Fund were great, and I can honestly say their help was pivotal in our decision to move here.”
CoreHaus, which is a social enterprise, moved into the facility in March and is currently finalising its first four modular homes, with discussions taking place with several regional housebuilders which are keen to acquire the services of the company.
Modular housebuilding offers developers a quick turnaround in production, with homes built while the site is being prepared for development. It means reduced costs and a quicker turnaround on investment, while still maintaining the same high quality that is associated with traditional housebuilding.
Scott added: “Our pipeline for 2022 is looking very healthy – there’s no doubt the market is crying out for products like ours.
“We’re in talks with several companies, including housing associations and private developers, and are close to agreeing contracts for the build of around 100 homes.
“If that happens our recruitment will scale up rapidly, with around 40 – 60 extra people needed to service the contracts.
“As a social enterprise, we’re also committed to supporting our local community, so recruitment will be of people in the area. We also use local suppliers as much as we can.
“Ultimately our aim is to manufacture 1,000 homes per year by 2026, which will see us take on additional facilities to support growth.”
The County Durham Growth Fund is managed by Business Durham in partnership with UMi and is supported by the European Regional Development Fund (ERDF). All successful grant applications are appraised by UNW LLP, an independent firm of chartered accountants and business advisers.
Sarah Slaven, Managing Director of Business Durham, said: “CoreHaus is an innovative company which has chosen Jade Business Park for its first manufacturing facility.
“Although production has only recently started, the company already has a healthy pipeline of work, which if secured will mean the creation of dozens of new jobs for the area, all made possible with the support of the County Durham Growth Fund.”
Simon Allen, investment centre director at UMi, added: “Thanks to the grant support secured through the fund, CoreHaus has brought its business to County Durham, with ambitious plans already in place for significant production and employee growth.”
John Healey, Corporate Finance Partner at UNW LLP, said: “Although a new addition to the County Durham business landscape, there’s every reason to believe that CoreHaus can go onto to become one of the area’s most successful businesses.”