TowerEight, the leading UK independent project and cost management consultancy, is set to hit £12m turnover and grow by almost a quarter in the coming year. The firm is also contemplating, for the first time, opening an overseas office.
The consultancy, based on London’s Great Portland Street, will grow revenue by 22% in the financial year to May, an increase on the £8.9m achieved in the previous financial year.
The company – founded six years ago by former JLL directors Simon Craven, James Morris, Adam Mursal and Toby Wait – is predicting further like for like growth in the coming year.
TowerEight has grown its presence across the UK, England and Wales, and is now looking at opening new offices in locations outside of London following client requirements for European and US projects.
James Morris explained: “Clients are looking for good advice and we’re finding that, slightly controversially, one of our big opportunities at the moment is projects that are coming through where existing consultants haven’t performed quite as well as they should of.
“We’re being put in to sort out problems and take projects forward and on the back of work like that we’ve been able to recruit some fairly important and talented people.”
TowerEight has expanded from the hospitality and leisure sectors then growing into the residential, commercial and education sectors, now moving into healthcare over the past year.
The company’s healthcare provision had grown through its hospitality work, as senior living centres and private hospitals try to operate more like hotels.
Among recent projects, TowerEight has been appointed to several projects as a cost and project manager for Quintain on the 85-acre Wembley scheme and its ongoing work for Whitbread.
The company’s staff numbers have increased over the last financial year to 89 and James Morris anticipates the firm increasing to 100 employees by the end of the 2017. There have been seven new recruits at TowerEight since the start of the year, as the business expands across sectors but also takes on more work across the UK.
“Hiring new staff that have the right blend of experience is critical to ensuring that our clients receive the best service, all of the time, and Thomas and Syed bring a highly complementary range of knowledge. The ability to attract the right recruits in a very competitive market place shows the strength of our market proposition and the quality of our client list.
The new hires have been made in response to a series of new project wins and growth, adding further expertise to TowerEight’s project and cost management teams.