Record completions boost turnover and profit at Manchester tower builder Renaker

Manchester residential tower builder and developer Renaker Build saw both profit and turnover up in 2025 with record volumes of completions for the period.

The firm said it had demonstrated “enviable performance within the UK despite national and global economic headwinds”. Turnover at the firm was up 6% to £280m while pre-tax profit grew to £9.6m from £6.3m for the year to 31 October 2025.

Renaker said in 2025 it completed 1,414 flats, 576 student beds and 806 co-living units “all delivered as planned and on programme”. This was in spite of rising costs, workforce shortages and regulatory and legislative barriers such as the Building Safety Act, tax burdens and the Renters’ Rights Act.

“If there was more support for first-time buyers and a less restrictive legislative and tax regime this would promote and encourage investment which is essential to improve economic activity and the outlook for the UK”.

The firm said that while demand for new homes remains it was expecting new starts to decrease this year compared with 2024 and 2025 due to the current uncertainty in economic outlook.

Renaker has started work on three projects in recent months and has three further scheme in the pipeline this year.

Staff headcount at the firm was up to 286 from 377. The firm’s founder Daren Whitaker stood down as a director of the firm last November having moved to Monaco but remains as a shareholder and consultant.