New JV to focus on transition in residential market.
Seddon and Waypoint have joined forces to create a joint venture partnership, Seddon Waypoint.
The new business will combine construction and delivery expertise with institutional-grade asset management and advice within the residential property sector in the UK and will focus on energy transition.
Peter Jackson, managing director of Seddon, said: "The joint venture partnership brings together two established and successful companies with new ideas and a new approach to dealing with the issues and challenges faced by property owners, investors and occupiers."
Waypoint joint managing director, Mike Riley, added: "The UK's target of reaching net-zero, combined with the spiraling costs of living and the current energy crisis, means that it is essential that the property sector as a whole address the question of energy efficiency. Making new buildings energy-efficient is not enough, and it is vital that the thorny issue of retrofitting existing property assets is also tackled.
"Seddon Waypoint brings together the combined experience of two market leaders, with fresh ideas on dealing with these challenges."
Between them, Seddon and Waypoint have a combined turnover of over £164 million, and a balance sheet of over £40 million. The two companies have over 500 staff and manage over £1.2 billion of capital across six investment funds.
With an extensive experience in planning, design and construction delivery, Seddon Waypoint will focus on assisting clients to transition towards low-carbon and renewable sources of energy in both, the residential and commercial sectors. The joint-venture partnership will also advise on the environmental and investment benefits of building improvements and renewable technology solutions.
Seddon Waypoint will also provide clients and partners with strategic advice regarding property development and investment.
In addition, working in conjunction with Waypoint's debt advisory team, the joint venture partnership will work with clients to provide solutions to residential construction projects which have run into financial difficulties.