Innovative housing manufacturer and GCV portfolio company CoreHaus has plans to make a considerable investment in the North East in the form of a brand new manufacturing site which could create dozens of skilled jobs for the region.
The recent appointment of project director Scott Bibby has signalled the start of the company’s search for a suitable, County Durham based factory unit to begin production.
Here the manufacturing of unique, modular Corehaus homes will take place following the recent success of trials throughout the region at sites such as North East HouseBuilder Homes by Carlton’s Cathedral Gates development in County Durham.
Creation of North East Jobs
Previously a production manager of 4 years at Hitachi Rail, Scott will first look to recruit a select core team before establishing further commercial partnerships in a push to encourage increased sales of the new product.
Recruitment is currently underway for a new production manager and engineer at CoreHaus as the company looks to extend its employment push – with a further dozen, technicians, apprentices and admin staff expected to be recruited within the first 12 months of operation.
The GCV portfolio company’s long term plan will see the production of 1,000 modular homes every year for 5 years by which point over 100 people will be employed across the business – signalling positive impacts for regional house builders and the North-East job market alike.
CoreHaus was founded in 2014 by Carlton and Co Group – the parent company of regional housebuilder Homes by Carlton, and North-West based housing procurement specialists Fusion 21 in a joint-venture deal. Here the businesses combined their extensive expertise and impressive track record to create a modern and versatile house building product.
Scott Bibby said: “We already know there is interest and demand for our innovative product. The housing sector is screaming out for something that’s both affordable and incorporates high-quality design within a modular frame.”
“The concept was successfully piloted with Homes by Carlton at their Cathedral Gates Site in County Durham and we are now looking to work together on other new housing developments across the region.”
“We’re also talking to housing associations about the product. Several have already told us they love the flexible, high-quality nature of the product. It is quick to build, easy to adapt and has a low-carbon footprint.”
Innovative Product and Design
Though CoreHaus homes can from the outset appear similar to traditional builds, they contrast to both typical brick built homes and other modular house structures due to the way they are designed and assembled. CoreHaus is part modular, but has a standard, engineered core that provides a balanced combination of flexibility and structure, easily configured to meet customer requirements.
Scott added “Even before the pandemic and the current economic downturn it was well-known that there’s a huge shortage of high quality, and affordable homes in the UK. There is a massive void in the market for something like CoreHaus.”
“Our light gauge steel-frame system ensures that CoreHaus can be used in both urban and rural locations with elevation treatments tailored to suit each setting, providing almost unlimited design potential. The standardised modular core means the house can be configured to provide either 2, 3 or four bedroom homes.”
Because of the nature of its production, the manufacturing methodology required for CoreHaus will differ from that most housebuilding. This more intricate process means technicians that possess relevant qualifications and problem solving skills in technical environments will be essential.
Scott added: “Our production and designs draw on technical skills and innovation. We will be looking to recruit people from different industries to create a diverse workforce with a growth mindset. We need engineering skills and construction experience combined to succeed and have a real opportunity to break the current mould.”
GCV continues to support CoreHaus after two successful funding rounds in 2016 and 2018 that resulted in a raise of over £450,000 from GCV’s private investor network (G-Ventures).
By utlising the valuable tax efficiencies offered by EIS and SEIS investment schemes, investors can look to maximise potential returns on future opportunities advertised on the GCV coinvestment platform and the G-Ventures private investor network.