Norstead sets sights on record growth and opens new office04/05/2022
Norstead, part of the Newcastle based Metnor Group, is celebrating record growth and prestigious new client wins as well as investing in new offices.
Norstead was established in 1971 and specialises in the design and installation of mechanical and electrical services in a number of commercial and industrial sectors. Part of the Metnor Group, the division has the experience and financial stability to carry out multiple contracts with a typical individual project value of up to £30 million. Last year, Norstead turned over £23.5m and celebrated its 50th anniversary.
Based at Killingworth in Newcastle upon Tyne, Norstead lists some of the UK’s best known companies as clients such as Ikea, The British Museum and John Lewis.
Investment in new offices
The firm recently opened a new office in Maidenhead and doubled the size of the team operating there due to new projects in the South East. Norstead has also invested in serviced office facilities in London to give the team a base when working on projects in the capital. The investment in the South East comes on the back of several high profile client wins, cementing the firm’s growing reputation in that region.
New projects account for record growth
The firm has already secured projects worth £23m for 2022 and is expecting to see revenue in excess of £30 million at year end, returning the firm to its highest levels.
Recently completed and current projects in the pipeline include the development of The White Room at The British Museum, Kettering Medical Centre, Addenbrookes RSC Hospital in Cambridge, Cote Brasserie prep relocation, London and Kingston Dementia Care Centre and ongoing plant replacement works for John Lewis. The firm is also involved in the Market Quarter scheme in Rugby, providing 360 one and two-bed apartments for rent.
Norstead’s biggest project to date is the development of Poole and Bournemouth NHS Trust with a combined deal value of £25m. This has involved developing a micro village of Norstead on the South Coast and recruiting a local team, which in turn has brought a number of employment opportunities to the area. The current phase of the project being due to complete in 2024.
Locally, the firm has been involved in the Gateshead Skills heating upgrade scheme and the construction of the Seaburn Inn in Sunderland.
Expanding the team
Over the last year Norstead has grown its team by 10% and the firm plans to further recruit Quantity Surveyor, Project Managers and Supervisors to support its expansion plans and bolster their engineering and commercial teams.
These new roles support Norstead’s ambitious plans for growth, demonstrating its commitment to investing in talent and expanding the business on the back of a number of new client wins.
Jonathan Grant, Commercial Director at Norstead, said:
“Despite a challenging couple of years, we’re really proud of our growth and the calibre and scale of the new client wins. We’re now more agile than we’ve ever been, meaning we can react quickly to client needs and changing markets. We strive to set ourselves apart and provide a top-drawer service to our clients. Our team is led by construction professionals who continuously innovate, meaning we’re at the forefront of technological advancements bringing best operational value and least environmental impact, in a world where building operation is increasingly more expensive and damaging.
Like many firms in the construction sector, the impact of both Brexit and the pandemic is causing us supply chain and inflation challenges but our fixed price contracting and transparent partnership approach is paying off.
Our growing investment and reputation in the South are paying dividends with a record number of prestigious new wins. We’ve got a strong order book for the rest of 2022 and beyond and we’re optimistic about the year ahead.”