Caddick Group achieves record-breaking £606m turnover
The property group has seen its gross profit increase by 23% to £70m and net assets grow to £202m year-on-year in its latest financial year results, citing growth throughout the country.
The family-run company consists of Caddick Construction, Caddick Developments, and Moda Living and operates in the BTR, PBSA, residential, and industrial and logistics sectors.
The firm has put its growth down to strategic public and private partnerships across its projects.
Key milestones this year include gaining consent for the £1bn South Village in Leeds, which will deliver 2,000 homes and 700,000 sq ft of commercial space, as well as the opening of a new HQ in Wakefield.
In the North West, the firm secured a 360,000 sq ft industrial consent in Wigan in February.
Other notable Caddick projects in the region include a 544,000 sq ft Goldman Sachs-owned logistics hub at Farington Park in Leyland, where Victorian Plumbing is anchor tenant, while the group’s construction arm has this year landed an £8m contract to deliver a Bromborough warehouse for Max Spielmann.
That construction division has increased its turnover to £356m nationwide. Caddick also opened a North East office in Durham in March.
Paul Caddick, chairman at Caddick, said: “Our people are at the heart of everything we do, and these results are a testament to the collective effort across the business, underlining our purpose of creating thriving communities.”
Johnny Caddick, chief executive of Moda Living, said: “We’ve had a very strong year across the Caddick group of businesses as we continue to expand our industry expertise and developments pipeline, while tapping into new living sectors.”
Myles Hartley, managing director of Caddick’s developments division, and group ESG lead, said: “Although planning timeframes remain challenging, we’re excited to be growing our strong pipeline of sites and continue to see resilience across our key sectors of residential and industrial and logistics.
“Our close relationships with funders and occupiers are proving really valuable, helping us stay flexible in an ever-changing market.”
