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Contractor Rydon has offloaded three of its regional construction businesses covering the South West, London and the South East to the newly formed Real Construction.
The new company will focus on the residential sector and is headed up by Paul Nicholls (pictured), former managing director for Wates Residential. The company aims to grow turnover from the currently anticipated £90m for 2021 to £300m in five years’ time.
Real Construction chief executive Nicholls said: “This is an important day for the people and clients of our new business. I have spent the last six weeks welcoming the new team to Real and ensuring that we have everything in place to find solutions to the development challenges our clients and partners face.