Newcastle-based Silverstone Building Consultancy is on target to reach its projected turnover of £1m after its most successful year to date.

The niche firm of building surveyors and project managers, which was set up by founding directors, Ben Hunter and Richard Farrey, says it will meet its £1m target next year, which will be the firm’s ninth year in business.

The firm has been spurred on by a busy year in 2016, when it worked on some major projects including a £2m new build ŠKODA dealership and a £500,000 VW showroom refurbishment on behalf of Pulman, a £2m housing scheme at Thomas Percy Close in Alnwick and a major city centre office refurbishment at West One, as well as completing surveys on some large portfolios for property investors from outside of the region.

Ben Hunter, director at Silverstone said: “2016 has been a good year for Silverstone and we are delighted to be on track to achieve our growth targets across a broad area of sectors and service lines. It is nice to see the numbers mirror our growth goals in terms of creating a mature, organised and hopefully well respected business.

We have seen an expansion in our role as building consultants to cover the full cycle of a client’s ownership of a building. More than ever we are advising on refurbishment projects and being asked to put into action our recommendations to increase the asset value of a building. This has certainly been the case for city centre office space over the past year, with several successful projects completed in Newcastle.

As well as completing a number of commercial projects we have also seen growth in our work in the residential development sector, and anticipate further work in this area as more new build schemes are brought forward next year.”

The firm is looking to grow its 8-strong team this year by taking on a further two surveyors and is also looking to expand its work outside of the region as well as diversifying into residential building surveys.

Richard Farrey, director at Silverstone added: “We are looking to recruit two new building surveyors to assist in delivering our growth plans. Our aim is to remain an independent firm of building surveyors and project managers, as this niche has attracted clients who wish to use our services without conflicting with other agents.  However, we are keen to expand into other parts of Northern England and this is something we will be exploring this year’.

Silverstone has recently announced it is undertaking a £500,000 refurbishment of the office space at 26 Mosley Street above Miller & Carter’s steakhouse, which is set to provide 9,000sqft of grade A office space.