TechInvest News

The GO2 People wins second major residential homes project in Western Australia - TechInvest Magazine Online

Written by Staff Writers | Feb 27, 2018 10:31:38 AM

Leading provider of vertically-integrated recruitment and building services The GO2 People Limited (ASX:GO2) has won its second major residential homes project in Western Australia through its wholly-owned subsidiary GO2 Building Pty Ltd.

The recently listed company has quickly made an impact in the Western Australia construction sector, having won major two projects within the past three months.

The most recent project positions GO2 Building as the exclusive registered builder and principal contractor for DHI Development’s Leisure Development on Dirk Hartog Island. The value of the project will be $12.5 – $16.5 million and include the construction of up to 33 homes on the island.

We are very pleased to have won a second major building project so soon after listing,” says The GO2 People’s Head of Growth Paul Goldfinch. “After completing small pilot projects, these wins really validate the work GO2 Building is doing.”

Dirk Hartog Island is located in the Shark Bay World Heritage Site off the coast of Western Australia about 850km north of Perth. The island was named after Dirk Hartog, a Dutch sailor and explorer who arrived in Australia in 1616. Hartog and his crew were the second group of Europeans to visit Australia.

Today, Dirk Hartog Island is one of Australia’s premier eco-tourism destinations. It boasts a number of attractions including an abundance of marine life, beautiful beaches and reefs, rugged landscapes, historical sites, stunning campsites, and world-class fishing.

DHI Development is owned and operated by the Wardle family. It calls the homes that GO2 Building is constructing “Eco Villas” in keeping with the eco-tourism theme of the island.

“We are delighted to begin construction of Eco Villas in our world class Sunday Island Bay Development,” Geoff Wardle says. “GO2’s experience in remote and rapid construction, coupled with an eco-friendly approach, made it an easy decision to partner with them. We have been involved throughout the design process, and I’m confident these villas will capture the very essence of this world heritage island.”

GO2 Building’s first major win was the contract for the exclusive supply and install of 86 residential homes in Stage 1 of Meadowbrooke, a premium over 55’s Lifestyle Estate in Boyanup, Western Australia. The Meadowbrooke development is set to generate revenue of $18.5 million over the next two years, with works commencing last month.

In addition to these wins, GO2 Building has also received a Letter of Intent for a third project which comprises of the construction of 68 homes at Sunny West Lifestyle Village in Harvey, Western Australia. The value of this project is approximately $16 million and GO2 Building expects to receive a contract later in 2018.

These projects are in line with GO2 Building’s strategic plan of focusing on residential construction through the use of its rapid building methodology. Rapid building is an alternative building construction method which uses lightweight pre-fabricated components in the construction process to significantly reduce build times. This methodology is particularly well suited for large developments and lifestyle estates.

“GO2 Building has come a long way since we started it in 2014,” says Goldfinch. “We have grown the division substantially thanks to our building industry knowledge and networks, the integration of labour from our Recruitment Division, and the acquisition of Terra Firma Constructions.”

“We are very pleased with the progress we are seeing in Western Australia,” says Goldfinch. “We also have plans to expand our footprint into other parts of the country and are currently in discussions with potential clients in other states.”

The GO2 People listed in October 2017. The company’s Recruitment Division provides tailored staffing solutions to a range of industries. The client base includes a number of national and multinational blue chip organisations across the construction, mining, and resources sectors.

Since listing, the Recruitment Division has opened new offices in New South Wales and Queensland. The GO2 People is currently evaluating the commercial potential of acquiring a New Zealand recruitment business.