Leading recruitment and building services provider The GO2 People has been awarded development of Stage 1 of the Meadowbrooke Lifestyle Estate in Boyanup, WA.
The contract – awarded to its wholly owned subsidiary GO2 Building Pty Ltd – is for the supply and installation of 86 residential homes at the premium Over 55’s Lifestyle Estate.
The contract is set to generate revenue of around $18.5 million over an expected two-year term with works to begin in January 2018. This contrasts with the FY2017 revenue from the building division of $750,000.
The deal – its first significant commercial entry into the Over 55’s housing market – falls in line with its strategic plan to focus on residential construction in the Over 55’s sector using its ‘rapid build’ methodology.
“The Meadowbrooke contract represents a significant win for the Company and reiterates our commitment to growth in the over 55’s sector.
In addition to the value of the contract, this project brings strong validation of GO2’s offering in the rapid build housing market. Our current operational resources are scalable, and we will continue to source similar projects.” said Billy Ferreira, Managing Director of The GO2 People.
The GO2 People will receive progress payments based on achieving agreed milestones throughout the life of the project.
Shares in GO2 People closed unchanged at 18.5c.