Tamdown, our Civil Engineering business, provides a range of civil engineering and infrastructure services to the UK housebuilding sector.
These services include earthworks, building highways, substructures and basements, installing sustainable drainage systems and high-rise construction.
It has an established market-leading position having been in operation for over 40 years.
Tamdown customers are UK housebuilders and affordable housing developers, including housing associations. As such, the UK housebuilding market is key to Tamdown.
The fundamental market growth drivers for our business are positive since the housing market has been in a long-term position of structural undersupply as the number of new houses built has failed to keep pace with the rate of household formation. The most recent Government briefing paper in January 2021 ‘Tackling the under-supply of housing in England’, references the National Housing Federation estimate of up to 340,000 new homes per year needed in England up to 2031, which is ahead of the Government’s estimate of 300,000 new homes target to tackle the housing shortage. There is the expectation that the housing deficit will remain over the long‑term. The prevalence of this deficit has attracted a significant amount of Government stimulus to the sector.
Tamdown operates in the South East of England and London, where the undersupply of housing is more acute compared to the rest of the UK. The general uncertainty posed by the Covid-19 pandemic in 2020 caused customers to take a cautious approach to starting new sites and awarding contracts throughout that year. Tamdown works with the majority of the quoted housebuilders, who account for approximately 50% of total private new build volumes. This dominance is expected to continue as these customers work through their land bank and develop larger schemes.
The business also works alongside a number of housing associations that deliver mixed tenure developments and are focused on the affordable homes segment of the housing market, who offer variety and strength to its customer base.
Tamdown is working in partnership with its customers, delivering fundamental and essential elements of the modular building revolution. This, and other Modern Methods of Construction, are enabling the construction industry to build better, greener and faster while meeting new targets and legislation.
There is general acceptance that there is a deficit in housing supply and so with Tamdown’s established market position as one of the leading providers of infrastructure and civil engineering services to major UK housebuilders, we are well placed to benefit from the Government’s current and future stimulus.