Fastr: BIM enabled proptech supporting SME Residential Developers and their construction supply chain to grow.
Lead Participant:
FASTR PROPERTY LIMITED
Abstract
Fastr Property are building on Fastr Land's software success, by innovatively developing the Fastr platform for construction and supply chain management, enabling Fastr adoption by SME developers and expanding their supply chain, allowing them to collaboratively compete against large housebuilders, building low carbon, sustainable homes that tackle the UK's housing shortage.
The Fastr team, composed of property development veterans, start-up entrepreneurs and software developers will work collaboratively with SME partners MGM New Homes, ELK Developments, and Calton Developments.
With energy performance standards for new homes remaining static since 2015\[Building,2019\] large house builders have avoided advancing sustainability, instead focusing on volume and maximising margins through poor quality, 'Identikit' homes, in part due to incentives from the UK Government's Help to Buy scheme.
Market conditions for construction sector SMEs are tough, they're second most likely to fail due to insolvency \[ONS, 2018\], often due to extremely tight margins exacerbated by poor productivity due to inefficient, paper based solutions that are labour intensive and error prone. This is compounded by lenders becoming more risk averse with SMEs due to valuation uncertainty \[JLL,2020\].
With only 28% of construction companies currently having a digital strategy, an SME focused Construction and Supply Chain Management Software solution has the potential to significantly improve SME Developers productivity and margins, whilst reducing development risk.
Fastr enables SME Developers to use BIM for the design and construction of modular, energy efficient housing built to Passivhaus and Future Home Standards, providing low carbon, energy efficient homes with minimised maintenance costs that target eco-conscious buyers.Fastr's development will deliver an industry leading solution, with entry into the Construction and Supply Chain Management Software arena combined with BIM integration transforming Fastr Property's growth through increased UK and international adoption of Fastr.
The Fastr team, composed of property development veterans, start-up entrepreneurs and software developers will work collaboratively with SME partners MGM New Homes, ELK Developments, and Calton Developments.
With energy performance standards for new homes remaining static since 2015\[Building,2019\] large house builders have avoided advancing sustainability, instead focusing on volume and maximising margins through poor quality, 'Identikit' homes, in part due to incentives from the UK Government's Help to Buy scheme.
Market conditions for construction sector SMEs are tough, they're second most likely to fail due to insolvency \[ONS, 2018\], often due to extremely tight margins exacerbated by poor productivity due to inefficient, paper based solutions that are labour intensive and error prone. This is compounded by lenders becoming more risk averse with SMEs due to valuation uncertainty \[JLL,2020\].
With only 28% of construction companies currently having a digital strategy, an SME focused Construction and Supply Chain Management Software solution has the potential to significantly improve SME Developers productivity and margins, whilst reducing development risk.
Fastr enables SME Developers to use BIM for the design and construction of modular, energy efficient housing built to Passivhaus and Future Home Standards, providing low carbon, energy efficient homes with minimised maintenance costs that target eco-conscious buyers.Fastr's development will deliver an industry leading solution, with entry into the Construction and Supply Chain Management Software arena combined with BIM integration transforming Fastr Property's growth through increased UK and international adoption of Fastr.
Lead Participant | Project Cost | Grant Offer |
|---|---|---|
| FASTR PROPERTY LIMITED | £270,099 | £ 216,079 |
Participant |
||
| MGM NEW HOMES LIMITED | £84,469 | £ 67,575 |
| INNOVATE UK | ||
| CALTON DEVELOPMENT LIMITED | £56,669 | £ 45,335 |
| ELK DEVELOPMENTS LTD | £62,549 | £ 50,039 |
People |
ORCID iD |
| Andy Watmore (Project Manager) |