Developers Caddick Group of Wetherby reports ‘record year’

Caddick, which consists of Caddick Construction, Caddick Developments, and Moda Living, has seen its gross profit increase by 23 per cent to £70 million, with net assets growing to £202 million.

The Wetherby-based company credits these results to its commitment to developing, delivering, and operating a variety of projects in the build-to-rent (BTR), purpose-built student accommodation (PBSA), residential, and industrial and logistics sectors across the country.

Paul Caddick, chairman at Caddick, said: “I’m incredibly proud of the results we’ve achieved this financial year, with a strong turnover reflecting the hard work and dedication of our staff as we continue to build our pipeline and further invest in our people.

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“Our people are at the heart of everything we do, and these results are a testament to the collective effort across the business, underlining our purpose of creating thriving communities.”

While the developer has ambitions to build 4,000 homes at Cattal, between York and Knaresborough, a scheme known as Maltkiln, it reports progress on other schemes.

This follows Caddick building the Hudson Quarter scheme in York and for the city council building its first carbon zero homes at Duncombe Barracks in Clifton and Burnholme in Heworth.

Key milestones for Caddick over the past year include opening new headquarters for the construction division in Wakefield, and being appointed principal contractor on two major regeneration projects in Birmingham.

The developments team also gained consent from Leeds City Council for South Village, a £1 billion regeneration project that will deliver 2,000 homes, 450 hotel beds, and 700,000 sq ft of commercial space in the city centre.

Johnny Caddick, Caddick group and chief executive of Moda Living, said: “We’ve had a very strong year across the Caddick group of businesses as we continue to expand our industry expertise and developments pipeline, while tapping into new living sectors.

“We’re excited to deliver inclusive and accessible BTR schemes, that don’t just reflect our long track record of award-winning operations, but also enable communities across the country to thrive.”

Caddick’s construction division has also increased its turnover to £356 million.

Paul Dodsworth, group managing director of Caddick’s construction business, said: “We’re proud of our strong pipeline of construction work and the expansion of our exceptional services to a variety of regions, most recently the thriving Midlands market.

“We have established strong relationships with clients in this new region and continued to deliver innovative and sustainable projects, enabling us to grow by over 100 employees and unlock a new chapter for the business.”

Myles Hartley, managing director of Caddick’s developments division, and group ESG lead, said: “Although planning timeframes remain challenging, we’re excited to be growing our strong pipeline of sites and continue to see resilience across our key sectors of residential and industrial and logistics.

“Our close relationships with funders and occupiers are proving really valuable, helping us stay flexible in an ever-changing market.

“This gives us a solid foundation for future growth, continuing to meet the needs of local communities and creating sustainable, inclusive places for everyone.”

In October last year, the Caddick group appointed Jessica Herman as group head of ESG and sustainability.

Ms Herman will lead the group’s ‘Places for Life’ strategy, originally launched in 2023, aimed at ensuring the projects across the different arms of the business will prioritise three key ESG areas – communities, environment and business.