The recent series of new business wins means that the Torsion Group is on course to top £122m turnover in 2023.
The four schemes are; a £46m residential development in Birmingham for Select Property; a £25.9m residential scheme in Manchester; a £10.2m student accommodation Scheme in York; and a £32m student accommodation scheme with Bricks Group (for its true student brand).
Due to the challenging market conditions over the last few years, the company has utilised its design-to-budget philosophy to secure these schemes. All four developments are design and build and are being delivered by Torsion Construction.
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In addition to the new contract wins Torsion Group has a very significant development pipeline, with four major projects currently consented or in planning in Birmingham, Leeds, Sheffield, and Coventry to deliver 881 beds by 2025.
The company has managed to achieve impressive growth over the last few years despite industry-wide challenges around rising costs, covid and material shortages. The transition over the last five years into a high-performing real estate business, including developer, builder, and operator, has been led by its CEO, Dan Spencer.
Torsion Group successfully handed over two Purpose Build Student Accommodation developments in 2022. Compass, a 290-bed scheme in Birmingham and Trapezium, a 91-bed scheme in Leeds. This was extraordinary given that these developments were slowed down twice by COVID and supply issues caused by the conflict in Ukraine. The Compass development also recently received the much-coveted Fitwel 3-star certification, the world’s leading building certification system that focusses on the health and wellbeing of residents.
