Pre-built ‘may solve crisis’
A NEWTON Aycliffe manufacturer has claimed its “unique” ready-made home could be the answer to Britain’s social housing crisis.
EOS Limited said the move, which will double turnover to £6m and create 30 jobs within 12 months, could help kick-start an ailing housing market and address a chronic shortage of affordable homes.
Cost pressures have forced developers to cease construction of new homes, putting in jeopardy Government targets to build three million new ones by 2020 and 70,000 affordable homes each year by 2010.
Director Michael O’Connell said the current shortage is being driven by reduced liquidity in the lending market, not a fall in demand.
He said: “People would still buy if they could get a mortgage. If they can’t buy a home, they will rent one because they sill need somewhere to live.
“The social housing sector is buoyant and busy. Our turnkey product will address a need in this and other sectors, including the hotel market.”
The company has already received interest from the owner of a Spanish hotel chain and said the concept could be trialled beyond the UK.
The modular buildings can be constructed up to nine storeys high to cater for a wide range of uses, although EOS said it was not looking to enter the competitive commercial property market.
The two-storey homes take only six weeks to construct and two days to erect on site - and are ready for occupation almost immediately.
Equipped with modern-day furnishings, they boast three bedrooms with en-suites, a fully fitted kitchen, dining room, lounge, a study, utility room and a cloakroom.
Factory gate costs, excluding land, foundations and infrastructure costs, are around £85,000 - around £35,000 cheaper than the average conventionally built home.
EOS said the move into ready-made homes was “a natural extension” of its core work - the design and manufacture of light gauge steel framing systems for the construction industry.
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