{"id":508718,"date":"2024-10-31T11:24:07","date_gmt":"2024-10-31T11:24:07","guid":{"rendered":"https:\/\/www.constructionnews.co.uk\/?p=508718"},"modified":"2024-11-01T10:38:34","modified_gmt":"2024-11-01T10:38:34","slug":"wates-targets-london-commercial-fit-out-market-with-new-division","status":"publish","type":"post","link":"https:\/\/www.constructionnews.co.uk\/contractors\/wates\/wates-targets-london-commercial-fit-out-market-with-new-division-31-10-2024\/","title":{"rendered":"Wates targets London commercial fit-out market with new division"},"content":{"rendered":"

Tier one contractor Wates is setting up a new fit-out business headed by the former managing director of ISG Fit Out.<\/p>\n

Lee Phillips, ex-managing director of ISG Fit Out<\/a>, will build and lead a team focusing on the London commercial fit-out and refurbishment market, Wates announced yesterday (30 October).<\/p>\n

The new business will operate within Wates Construction to deliver \u201chigh-quality Category A and B fit-outs\u201d, the firm added in a statement.<\/p>\n

Phillips\u2019 team will function separately from the contractor\u2019s existing Smartspace business, which focuses on private and public sector frameworks.<\/p>\n

His appointment and the establishment of a London-focused fit-out division \u201cpositions the company for growth in this market\u201d, Wates<\/a> said.<\/p>\n

Phillips has worked for more than 30 years in the fit-out sector, including 16 years as a project director for Overbury in London. An 18-month stint as a board director at Como Group followed before he joined ISG in 2016.<\/p>\n

Phillips became managing director of ISG Fit Out in 2019. He led eight divisions \u201cdelivering major commercial projects up to \u00a3250m in value, and focused on building long-term strategic partnerships with customers across all sectors\u201d, according to Wates.<\/p>\n

A spokesperson for the contractor would not be drawn when asked if the plan to set up a London commercial fit-out business pre-dated the demise of ISG Fit Out, which fell into administration last month along with seven other ISG businesses<\/a>.<\/p>\n

However, the \u201cunique London market offers the opportunity for Wates to create a bespoke service\u201d, the spokesperson told Construction News<\/em>.<\/p>\n

Steffan Battle, construction executive managing director at Wates, said: \u201cOur focus on London\u2019s commercial sector continues to increase and creating a dedicated fit-out operation for this unique market complements our existing expertise, while offering a point of difference to customers.\u201d<\/p>\n

Wates\u2019 annual group accounts for 2023 showed that Smartspace employed 233 workers and turned over \u00a3122m.<\/p>\n

ISG Fit Out reported turnover of \u00a3567.8m in its most recent accounts for the 2022 calendar year. Pre-tax profit stood at \u00a324.5m and it employed a monthly average of 500 staff.<\/p>\n

An administrators\u2019 report published last Monday (28 October) showed that the firm owes \u00a3111.4m to its supply chain<\/a>.<\/p>\n

Phillips is not the first senior ex-ISG employee to find new work. Former chief executive Matt Blowers joined Structure Tone<\/a> \u2013 another fit-out firm \u2013 on 23 September.<\/p>\n

In a LinkedIn post to ISG Fit Out staff last month, Phillips said: \u201cWhat I want to say is that with your drive, talent and experience I know you will be in high demand\u2026 If I can help any of you search for new roles, pls do not hesitate to contact me.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Tier one contractor Wates is setting up a new fit-out business headed by the former managing director of ISG Fit Out. Lee Phillips, ex-managing director of ISG Fit Out, will build and lead a team focusing on the London commercial fit-out and refurbishment market, Wates announced yesterday (30 October). The new business will operate within …<\/p>\n","protected":false},"author":135716,"featured_media":484006,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[57171,545],"tags":[],"class_list":["post-508718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-supply-chain","category-wates"],"yoast_head":"\nWates targets London commercial fit-out market with new division | Construction News<\/title>\n<meta name=\"description\" content=\"Tier one contractor Wates is setting up a new fit-out business headed by the former managing director of ISG Fit Out. 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