Condev’s growth spurt
GOLD Coast builder Condev Construction is expanding into NSW with offices in Sydney and Newcastle as it seeks to grow nationwide.
Ware Building’s staff and offices at Broadmeadows in Newcastle and Alexandria in Sydney will be absorbed into Condev from July, giving the builder its first presence south of the border.
Ware Building’s Matt Ware will be Condev’s NSW general manager.
Condev managing director Steve Marais, who founded the company in 2002, said the move was part of a long-term expansion plan.
“Our business plan is to be a national builder with growth nodes,” he said. “We are a non-Enterprise Bargaining Agreement business, so cannot tackle big projects.
“So the way to grow the business is to set up offices in different areas and get them to the point where they have a turnover of more than $100 million.”
The new branches will be added to Condev’s head office at Robina and its Brisbane operation at Fortitude Valley.
Mr Marais said the ap- proach came from Ware Building, which had wanted “support and mentorship”.
“For us it was an opportunity to grow our business in these areas with people who have local knowledge.”
Mr Marais said Newcastle, in particular, represented a big opportunity.
“There is massive infrastructure development going on in the city,” he said.
“That is the exciting part for us being in a city that is getting its own identity.”
He said he was confident Condev could carve out a share of the Sydney market.
“We have assessed other builders in the Sydney market and they are not as clinical as we are as a builder.”
He said the company was in its procurement phase, which he expects to run through to August.
Condev’s Gold Coast projects include Eleve Residences at Palm Meadows golf course in Carrara, Cambridge Residences at Robina and The Residences townhouse project at Emerald Lakes.
Condev is on track for turnover of $220 million in FY17, rising to $300 million by the following year.
The new offices take staff number to 150. its