Fairgrove marks 10 year milestone
East Midlands, [19 September 05] Champagne corks were popping throughout the East Midlands this week, when regional property developer Fairgrove Homes celebrated its 10th anniversary.
Back in 1995, Fairgrove Homes began operations in Ilkeston, Derbyshire, with only two staff. 10 years on, the company has expanded to include a staff base of more than 30 personnel and a portfolio of over 150 homes successfully built and sold throughout the region. “Over the past couple of years, we’ve seen tremendous growth in the new homes business throughout Derbyshire, Leicestershire and Nottinghamshire,” says Steve Midgley, managing director of Fairgrove Homes. “We’ve enjoyed consolidated growth during our 10 years of operation, but it would be fair to say that a large percentage of our growth has occurred in the past couple of years.
“A growing number of TV programmes have encouraged many people to give up their day jobs and become property developers,” say Steve. “While such people have certain skills to offer the market place, I don’t feel they can offer the broad range of skills, experience and enthusiasm found in serious home development companies that are in the business for the long haul. For example, we’re seeing success at every level of our business. On the financial front, our profits continue to grow. On the social responsibility front, we’re being recognised by organisations such as Ashfield District Council for the positive and tasteful way in which we’ve turned derelict old buildings into unique, modern homes. From the professional perspective, the invitation to join the HBF Executive (Midlands) last year highlights that we have something to share with our peers in the industry. Finally, we are gaining increasing recognition in the local Ilkeston community, with potential staff contacting us for jobs that aren’t even advertised!”
A lot has happened in the UK since Fairgrove Homes was formed. Back in 1995, John Major was prime minister and interest rates – which were set by the chancellor – stood at around 6.5%. Today, interest rates are slightly lower – and are set by the Bank of England – but the new homes industry faces a fresh set of challenges, as Steve explains: “Today it’s much harder to get planning permission and land prices have more than doubled. In addition, there’s a real shortage of skilled labour for all stages of the home building process. From the consumer’s perspective, there’s also a greater use of brownfield land, which could be contributing to the greater availability of better designed and less standard house types.”
Looking ahead to the next 10 years, Steve sees an interesting future ahead: “The present government has adopted an approach to housing that favours apartments and high-density estates over other forms of dwelling. While such homes have their advantages for certain segments of the population, I think it is only a matter of time before the government realises that the majority of people do not want to live in an apartment or on a high-density estate and it will hopefully allow more traditional detached homes for families. Whatever the government decides, Fairgrove Homes is definitely a business that is here to stay. In 2015 I intend to be reporting that Fairgrove Homes continues to operate as a well-established East Midlands business, with a dedicated team of staff building between 50 and 100 high-quality units per year. We already boast two staff who have been with the company for almost as long as it has been in existence. We aim, therefore, to continue to provide rewarding work, to ensure the long-term interest and commitment of our staff.”
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