Kennett Builders has transitioned its leadership team to a fourth generation
A FOURTH generation has taken the reins of family construction business Kennett Builders as it breaks through $100 million in annual revenue.
A FOURTH generation has taken the reins of family construction business Kennett Builders as it breaks through $100 million in annual revenue.
Brothers James and Scott Kennett will share leadership of the 104-year old company with father John stepping aside after 44 years with the business.
He will take up the role of chairman of the Kennett group of companies, with James becoming executive director of corporate and strategy and Scott overseeing the group’s core commercial construction business as managing director of Kennett Builders.
The group’s G5 Special Projects business will continue to handle projects valued up to $2 million, while the new leadership pair has set its sights on growing a modular construction arm, undertaking its own developments and expanding into the Victorian construction market.
However, John said the South Australian commercial construction business remained at the core of the group’s strategy, and had fuelled its revenue growth in recent years.
“James and Scott have underpinned a substantial expansion of our annual project portfolio, valued at $60 million in 2015 to more than $100 million in 2018/19, with staff numbers growing from 50 to 70 over the same period,” he said.
“While we’ve continued to deliver quality projects in the aged care, education and commercial sectors, we’ve also carved a niche in sport and leisure construction.”
Last year, Kennett completed work on the $21 million Fleurieu Regional Aquatic Centre at Victor Harbor and the $9 million Playford City Tennis Centre.
Work on a $10 million redevelopment of Memorial Drive’s tennis precinct is due for completion in February.
With Scott overseeing the core construction business, James has been tasked with developing the group’s growth opportunities, including in modular construction.
“Scott’s very strong on construction and I’ll be looking at the horizon - where do we go next, that strategy side of it,” he said.
“Modular or off-site construction, which I’ve been playing with for probably six or seven years, I think is the way of the future.”
The Kennetts are currently progressing plans for two apartment and industrial property development projects, while Scott’s seven-year stint in Melbourne has inspired the company’s foray into that market.
“It’s not a market that others in SA want to get into because its particularly tricky compared to other states - it’s very territorial,” Scott said.
“A lot of eastern states come into Adelaide very easily but not a lot of Adelaide builders get into other states easily - we’re looking at getting in there slowly.”