Architecture firm in equity release deal
Leeds-based Watson Batty architects has released equity in the business to seven members of its management team.
This latest announcement is a part of the succession planning process at Watson Batty which is now in its fourth generation ownership structure.
Last month Watson Batty announced that Paul Ryan was to step down from his role as chairman and hand over full ownership to the four remaining directors Peter White, Andrew Grindrod, Richard Merrills and Mark Sidding.
The release of equity to seven other staff in the business “is considered a major step forward in recognising and rewarding their talent and commitment and maintaining loyalty and stability for the long term”, the company said.
Managing director Peter White said: “As we move into our 42nd year in practice, Watson Batty maintains strong performance across all key sectors for a national blue-chip client base. But we will not be complacent with the reputation we have all worked so hard to achieve. We must always look to the future and our rising talent is undoubtedly the most important asset to nurture.
“We are delighted to reward equity to seven members of our team, some who have grown with us from graduate or apprentice level. They have all demonstrated immense commitment and capability to help with existing client development and growth of the business through new work stream exploration. They already offer a strong combination of design and technical ability but their new roles will provide new opportunity to develop their skillset in management, IT, marketing, health and safety and quality assurance.”
The seven new equity holders are regional director Richard Crowson, associate director Ben Pickersgill, associates Catherine Blain, Tom Sykes, Scott Lunn, Simon Collins and senior architect Nick Hewitson.
Watson Batty operates nationally with offices in Leeds and Loughborough. With a team of 50 people it is on target to achieve 20% growth in turnover year on year with a projected £3m turnover by April 2018 and £4m turnover by April 2020.
During its 41 years Watson Batty has created over 1 million sq ft of retail space across 19 stores for Wm Morrison Supermarkets, delivered 3.2 million sq ft in mail centres for Royal Mail, designed 4,000 new homes and supported 20,000 new school places in the UK.
It is currently working on a number of significant projects across a varied range of sectors including a number of EFSA Primary and Secondary schools across Yorkshire and the North East, Rathbones Bakery facility for Wm Morrison, Crag Road and Kearns Village residential developments for Skipton Properties and the recently completed new passenger lounge extension at Leeds Bradford Airport.
