Recently founded timber frame specialist Pace is predicting 50% growth ahead of forecast in 2001 and, to keep up with demand, is now equipping an additional 10,000ft² factory.
The firm, based at Old Wolverton, Milton Keynes, set up last year, and its 28-strong team are mainly former Prestoplan and PurposeBuilt employees.
In 2000, Pace turned over £2.5m and supplied and erected timber frame packages for 400 houses. This year it already has £4.5m worth of orders and expects to build 1,000 properties (with 300 already completed).
Managing director Phil Key, previously with Prestoplan, said that Pace’s rate of growth has ‘significantly exceeded expectations’. He attributed the expansion of the business and timber frame generally to a number of factors.
‘Clearly developers are going for timber frame because of a site skill shortage,’ said Mr Key. ‘But perhaps the main reason is the Egan report. Housing associations, which are a major market for us, have to be Egan-compliant to access funding more easily, so they’re opting for timber frame.’
With an investment of £50,000, Pace’s new factory unit is being equipped with workbenches, saws and compressors. More people will be taken on to staff the plant and three further production cells at the original unit through the year.
In another development, the company is setting up its own dry-lining division under newly appointed site operations manager Tim Bye.
