Renaker Build bucks economic headwinds with record year

Manchester property developer Renaker Build has defied economic challenges, posting a record year for revenue growth and project completions.

For the year ended 31 October 2025, the developer reported a 5.6 per cent increase in turnover to £280.3 million (FY2024: £265.3 million) – more than quintuple that ten years ago of £52.3 million.

It was backed by the completion of a record number of projects, which included 1,414 apartments, 576 student beds, and 808 co-living units.

This encompassed work on T2 at Union Living, Greengate Bankside, and House of Social, alongside ongoing projects at Vista River Gardens and Port Street.

Despite facing rising building costs, workforce shortages, and regulatory hurdles, Renaker navigated the challenges, achieving a pre-tax profit of £9.6 million, up by more than half from £6.3 million the previous year, with the firm confident its pipeline will remain strong.

“Our experience of previous economic downturns is there can often be a flight to guality, which we anticipate will drive demand towards the product we are developing on behalf of clients,” said bosses.

“Our clients have a clear and credible pipeline of developments that are well progressed in well located parts of Manchester, with strong place-making and amenity.”

They added that Renaker maintains a strong network of long-term UK suppliers, primarily from the North West, while mitigating overseas supply chain risks by partnering with trusted Tier One contractors and securing contracts to address long-lead times and logistical challenges.

Net assets increased to £44 million (FY2024: £36.8 million), while cash reserves dropped to £4.1 million from £15.8 million.

Looking ahead, although no new contract starts occurred during the year, several projects have begun since the year-end, including high-rise residential developments in Salford, along with a 34-story, 860-room Vita Student accommodation tower in Manchester city centre, currently known as Plot 9B.

Bosses said: “We are currently on site with the delivery of a further 1,534 new homes and 861 student beds which are programmed for completion to span 2027-2029.

“These large-scale residential and student housing projects and our financial and operational strengths position the business in a stable and secure position heading into 2026.”

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