Modular housing firm looks to build with new chairman

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Modular house builder Project Etopia's main investor Lord Stanley Fink has joined the firm’s board as its chairman, 'in a declaration of intent' over the future of the company, the off-site construction specialist has said.

 

The new hands-on role for former Conservative Party treasurer Lord Fink — until recently chairman of investment manager ISAM Europe — is an integral part of the firm's 'growth ambitions', according to Project Etopia.

'I remain utterly convinced that off-site construction will prove to be a major part of the solution to the housing shortage in Britain. Etopia’s challenge will be to keep pace with demand and forge a path as a world leader in modern construction methods,' said Fink.

Project Etopia's business model aims to create turn-key properties that combine passive design, affordability, renewable energy generation, intelligent heating and cooling systems, with smart home technology.

In recent months, the business has pressed ahead with marketing properties at its modular commuter village in Corby, Northamptonshire, where the superstructures of the first four houses were finished in just 34 days.

The firm has also secured an agreement to build a demonstration home at BRE’s Watford Innovation Park later this year, and launched a new factory in Ellesmere Port, Cheshire, with a capacity to produce 2,000 panelised homes a year.

'Having the financial backing of Stanley was a coup and to now have him aboard as a fully-fledged executive is an opportunity no entrepreneur in their right mind would miss,' said Joseph Daniels, CEO of Project Etopia.

'The company has grown so rapidly that its internal operations are already far more complex than they were a year ago. Stanley’s experience of building and growing companies is going to prove invaluable to us as an executive team,' Daniels added.

Private and public housing bodies across the UK are increasingly turning to modular building to boost stock levels at significantly lower costs than traditional bricks and mortar, according to Project Etopia data.

The modular specialist said its properties all incorporate smart technology, mechanical ventilation, heat recovery, air purification, daylight mimicry lighting, and solar power as standard.

The company, with headquarters in Cambridge, was founded in 2015 by Essex-based entrepreneur Daniels.