Social housing maintenance firm aims to achieve 'significant turnover' within five years

Social housing maintenance firm Apollo has launched a division aimed at developing new affordable housing.

Apollo chief executive Dave Sheridan said the move had been made in response to the increasing demand for social housing. Apollo currently makes 80% of its £350m turnover from refurbishment of social housing, primarily through the decent homes programme in England and equivalent programmes in Scotalnd and Wales.

Apollo did not provide details of the size of the new division, but said it followed the firm’s recent acquisition of specialist mechanical and electrical contractor Goldhall Electrical Limited.

Sheridan said: “With a sector-wide investment in new affordable homes of over £7 billion and with our track record in new build in other sectors this is the ideal time to put our commitment to new build homes on a formal footing. We are extremely ambitious for this new division as it has to deliver in line with our outstanding reputation in the social housing sector. We aim to achieve a significant turnover within five years.”