28 February 2013
Oxford Brookes Alumni to turn over £5,000,000 in 2013
Studying at Brookes gave me the motivation to think and challenge myself and my own perceptions of the built environment.
Eighteen months ago Oxford Brookes alumni and business partners Richard Philips and Tim Bailey, 25, set up the successful B38 Group from scratch following courses in Architecture and Real Estate.
The company which specialises in commercial property has gone from strength to strength and already has a substantial list of blue chip clients which include Nationwide Building Society, BT Plc, Audi Volkswagen and the NHS Primary Care Trust. To expand the company even further Phillips and Bailey have decided to invest in a construction company currently turning over £2.5m per annum, adding to the services the company already offers.
The name B38 originates from the student house Tim and Richard lived in in Oxford which became their first renovation project (38 Bartlemas Road) and it is the umbrella brand under which Richard and Tim can ‘vertically integrate businesses in the property world’. Since the creation of the group they have launched ventures in; Facilities Management, Construction, Agency, Property Software, Retail and Industrial Development and Capital Investment.
When asked for the reasons behind the acquisition of the construction company Richard explains many of their clients of B38 Facilities were asking for bigger projects to be undertaken however they had already built up a solid pipeline of commercial projects including the design and build of 3 industrial warehouses and 12 office buildings on a new business park. Rather than starting a new business to accommodate these requests the business partners decided it would be better to acquire another company with ‘experienced people, full accreditations and trading history to bolster the size of the group’. This move they hope will achieve the group turnover of £5,000,000 planned for 2013.
To ensure their client list is rounded and diverse Richard and Tim also work to achieve a number of contracts with smaller companies, one of which is the Handmade Burger Company. Other plans for the group include developing care homes and student accommodation in the South in areas such as Oxford and London. The group already has offices in Wakefield, Swindon and the Midlands but the pair are currently looking for appropriate space in central London for a new office allowing them to have good national coverage.
When reflecting on his time at Brookes Richard states ‘studying at Brookes gave me the motivation to think and challenge myself and my own perceptions of the built environment. It gave me the opportunity to study around the subjects that interested me most but I was always keen to make things happen and get out there and do it for myself’.