Derbyshire modular housing firm shelves plans for huge production facility

TopHat has put plans to open Europe’s largest modular housing factory in Corby, Northamptonshire, on hold.

The Derbyshire firm has said the 650,000 sq ft advanced manufacturing facility is facing delays because of the volatility in the modular housing market.

A spokesperson for TopHat told Construction Enquirer: “TopHat continues to believe it will only be through bringing volumetric factories of the scale of Corby on stream that the UK will be able to solve its long term housing crisis.

“However, the short term market conditions mean it is prudent to pause now with the building almost complete but no equipment yet on site. We continue to develop our pipeline and will monitor conditions closely to restart when it is right to do so.”

The move comes four months after TopHat agreed a £15m loan with Homes England and after it raised £70m from existing and new shareholders including housebuilder Permission and institutional investor Aviva Capital Partners.

TopHat recently started a consultation process on around 70 job losses as part of a cost-cutting drive, said Construction Enquirer.