Modular building firm M-AR plan to ramp-up production after acquiring the freehold of its manufacturing facility in Hull.
by Rory Butler / November 18, 2022
Inside the deal: The company spent £3 million on the 100,000 sq ft facility, reinvesting heavily too in new equipment, hires and training.
The modular construction specialist said it is “embarking on a significant programme of growth, underpinned by continuous reinvestment” in itself, and in the off-site building sector.
M-AR said its newly purchased Hull factory can produce around 400 modules a year and that it intends to “keep pace with current demand”.
Leased-to-purchased benefits:
- bolstered asset book
- total control of production
- real-time process adjustments
- greater production efficiencies
- greater space management
- space to expand
- greater job security for staff
The purchase is also a commitment to, and investment in, Hull, where M-AR has been based since 2007, it said.
“This is another major step for us as part of our ambitious five-year growth plan,” said M-AR director, Ryan Geldard. “As well as giving us complete control over our own manufacturing facilities going forward, it gives our staff and clients reassurance that we see further growth opportunities in the off-site construction market.”
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