Calico and Forrest team up for JV

BURNLEY-based social landlord Calico Group has appointed Preston contractor Forrest as its partner for a new joint venture.
 
The business, Ring Stones, is a subsidiary of Calico Homes and will carry out work for both Calico – which has 4,500 homes – and other clients.

The joint venture is aiming to secure work worth £88m over its 10-year lifetime, including an investment programme for Calico’s properties and house building worth £45m.
 
Ring Stones will have its own workforce and is loking to take on 30 staff. Forrest was appointed following an open procurement contest.
 
Michael Birkett, Calico’s chief executive, said: “Ring Stones will increase our efficiency through significant VAT savings and direct control of labour and supply chain costs.
 
“Additionally, we anticipate that a more competitive cost base and a potential use of commercial profits will ensure that we are able to continue to develop new housing supply, particularly post- 2015 when the availability of grant subsidy may be squeezed again.”
 
Lee McCarren, chief executive of Forrest, added: “Our joint venture provides Calico with the means to access additional funding to improve the homes of thousands of its tenants.
 
“Ring Stones will be based in the heart of Calico’s communities and employing people from within those communities, helping to ensure that its investment supports local supply chains and employment.  
 
“From an operational perspective, Calico’s on-the-ground understanding of the issues which affect its tenants will be invaluable to  Ring Stone’s teams as they work in across Pennine Lancashire over the next decade.”