Design, fit-out and refurbishment specialist Paramount has strengthened its position in the property sector by adding construction to its set of core services.
In a move that “signals the start of an exciting new era”, commercial and residential construction activity will propel Paramount towards the £40-million turnover mark.
To drive forward the new ‘Build’ offering, which heralds a new phase in Paramount’s exceptional growth, the company’s leadership team has been boosted by key appointments.
Paramount’s board of directors has been bolstered with Paul Thomas in a new post as Construction Director and in conjunction with Commercial Director Dimitri Tsakiris will focus on ‘Build’.
Paul Jones has moved into the newly-formed post of Projects Director, to support the ‘Build’ expansion, in addition to ongoing fit-out and refurbishment works carried out by Paramount.
They now form part of a senior leadership team alongside Richard Jones, Helen Bartlett and Kevin Mashford.
Richard Jones, Paramount Chief Executive Officer, said:
“Our move into construction signals the start of an exciting new era for Paramount, as we pursue ambitious aspirations for our dynamic company.
“After focusing on high-quality interiors comprising fit-out and refurbishment for more than 30 years, encouraged by our clients, Paramount is broadening horizons with a comprehensive construction service which represents natural progression for our company.
“I’m proud of the enviable reputation Paramount has earned across the property market thanks to our brilliant leadership team and in-house expertise that will ensure we strengthen our position at the forefront of the construction sector, based on our commitment to quality and professionalism.”
As part of the Cardiff-headquartered company’s new service, Paramount has underlined its ambitions by winning two major contracts, commencing construction work on a £18-million contract on the Tene Living project in Salford, Greater Manchester, and a £3-million social housing scheme in the South Wales town of Porthcawl.
The Manchester project is in the middle of a total redevelopment, with Paramount converting former offices into 151 high-end luxury apartments, complete with communal roof terrace, BBQ area and plans for an outdoor cinema, expected to be completed this autumn.
The Porthcawl project in mid-Glamorgan, which is expected to be complete in summer 2024, will create 20 EPC ‘A' flats, with an emphasis placed on energy-efficiency with solar PV, EV charging points and will not contain gas.
Paul Thomas, Paramount Construction Director, said:
“Our leadership team has the ideal blend of experience and expertise to successfully expand our core offering and place the company on a higher growth trajectory.
“That experience and expertise across the company will provide us with the versatility to undertake diverse projects, from complex refurbishments and regeneration schemes to new-build developments, which will see Paramount go from strength to strength.”
Dimitri Tsakiris, Paramount Commercial Director (Construction), added:
“We have hit the ground running in South Wales and Greater Manchester and all our build projects will be planned with precision, managed tightly and ultimately delivered in partnership with our clients.
“We approach every project with the same openness and transparency that has been the cornerstone of Paramount’s success, aiming from day one to establish a collaborative relationship with clients and partners to deliver buildings that not only meet expectations but exceed them.”
Paramount, whose turnover currently stands at £38.5 million, employs 61 people who still own a majority shareholding of the business – 51 per cent – following completion of an Employee Ownership Trust (EOT) scheme, in May 2021, a deal which marked a major milestone for Paramount after a period of sustained growth.
The company is already well known across Wales and England where it has created high-quality inspirational space for a number of leading companies.
These include former Wales and Real Madrid football star Gareth Bale’s Par 59 bars in Cardiff and Bristol, multi-million-pound redevelopment of Hodge House in Cardiff, refurbishment of the Development Bank of Wales HQ, transformation of the landmark 360 Bristol office complex and acclaimed office revamps in Bath for American software company SmartBear and financial services consultancy Altus.
