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Stock investment contracts to save £10m over 5 years

Posted on 21 May 2021

Hyde’s new contracts to save about £2m a year and deliver social value

The Hyde Group’s new stock investment contracts will save an estimated £10m a year, over the next five years, as well as driving more social value for customers. 

Alongside Engie Regeneration (kitchens and bathrooms) and Anglian Building Products (windows and doors), which retain their contracts, we have three new contractors: AD Construction (major internal and external works), Breyer Group (roofing) and Ian Williams (cyclical decorations).

Hyde Director of Property Services, Mark Batchelor, said: “These are significant savings that will deliver better value for money for customers; with the money saved being re-invested in providing customer services and building more affordable homes. We’re also delighted that the contractors will be investing time and money in supporting our community projects.” 

Hyde Head of Stock Investment, Darren French added customers played a key role in the successful procurement. “A customer sat on the Procurement board and we ran online workshops with customers, to help us understand what they most valued from these services. They also helped us score the contractors on customer satisfaction and their customer liaison proposals.” 

Social value was a key factor in selection, explained Social Value Manager Chichi Onyenemelu. “The contractors were asked to include proposals to support our social value plan and these have been written into the contracts. 

“Every year our contractors will donate a minimum of £61,000 between them over the next five years and combined, they will offer job opportunities, apprenticeships, work placements and training for our customers. Other activities include refurbishing community centres and spaces, community events and schools projects.” 

The contractors have also committed to our digital inclusion objective, and to training 100% of their operatives to a minimum of NVQ2. Staff will also undergo mental health and safeguarding training to help them support vulnerable customers. 

The contracts started in April 2021 and will run for five years, with a possible extension for another five years after that.