Take advantage of the construction industry boom
There’s good news for the construction industry. In March this year, monthly output grew by nearly 6% and was worth £14.251m – its highest value since September 2019. The industry is still struggling to recover from the impact of the lockdowns – industry declined by 13.6% as a whole in 2020, but is expected to rebound by 8% in 2021, with a forecast 2.5% increase each year to 2025.
Our investors are keen to provide business finance for developers wanting to take advantage of the construction industry boom, especially with the government offering new finance packages for infrastructure and sustainability projects.
As the UK starts to come out of lockdown, there will be a profound shift in the way offices work. Many businesses will be adapting to remote working or hybrid working practices where there is less emphasis on employees being physically present in the office. This is leaving many office buildings vacant, and there is a trend towards repurposing them for much-needed residential housing. There will therefore be a huge number of opportunities for developers to get involved with lucrative renovation projects.
However large or small your next venture might be, renovation projects offer huge potential right now. As the world gradually changes, this is the perfect time to take on renovation projects to create a healthy profit. Whether this involves repurposing an entire office block or renovating a run-down house to create a luxury home, you will need construction industry financing.
Sustainability is big business, and the government has set a target for the UK to become carbon neutral by the year 2050. The green economy will be good news for housing construction and renovation – with homeowners keen to live sustainably, there has been a rise in demand for sustainable housing. This is likely to rise even further as awareness of the issues becomes even greater and the cost of sustainable technology falls. In fact, a green building gives you a greater return on your investment, with an average 7% increase in value when compared with traditional buildings. The initial investment in sustainable materials is worth making because it is more likely to pay dividends later on.
Construction industry financing
Whether you need to invest in property, heavy plant machinery, building materials or staffing costs, we can help you find the right asset financing solution. Contact us for more information on the most cost-effective way to take advantage of the construction industry boom.