Rivergum Homes promotes Mark Taintey to CEO and prepares to expand its reach into competitive Victorian market
SOUTH Australian home builder Rivergum Homes set to expand into Victoria with the construction of as many as 50 homes next year.
SOUTH Australia’s second-largest home builder Rivergum Homes is to expand into Victoria, aiming to start construction on as many as 50 new homes from next year, according to new CEO Marc Taintey.
Mr Taintey, who has been promoted from COO to CEO, said the South Australian-owned firm was on the “cusp” of finalising a land deal to begin building in Melbourne.
“With all these sort of things there are commercial agreements you have to come to, but our commitment to Melbourne is really around it being the next obvious geography for us,” he said. “It’s proximity to Adelaide makes it to some extent a bit easier to get there and in terms of that marketplace there’s a fair bit happening.
“While there’s a fair bit happening in Adelaide for us as well, there’s a natural sort of expansion for us.”
He said while it was “too early to tell” how many homes it would build in its first foray, he said the company’s aim was to exceed 50 dwellings, with construction starting late 2017.
Mr Taintey said Rivergum Homes had experienced annual average growth of 20 per cent over the past four to five years and had set a target of building 900 homes this financial year in South Australia and Queensland.
“Obviously the market is a little tight and tough with wet weathers and federal elections and a bit of uncertainty, but we’ve got a very strong pipeline of controlled work, so that’s what our aspiration is,” he said.
With Mr Taintey’s appointment to CEO, company founder Victor Said has become chairman of a high-powered advisory board consisting of IT entrepreneur Geoff Rohrsheim, RAA board vice-president Peter Siebels, former Connor Holmes director Gary Rusling, Thomas Greer partner Josh Simons, and Michael Lenarduzzi, who is general manager of new business development at the Victorian Government’s property arm.
Mr Taintey said the advisory board provides a strategic vision for the company.
The company has also recruited former Bank SA corporate banking executive Grant Nuske as general manager of its new lending arm Truevest Finance.
“The intent is for it to be the traditional new home lending model, but we do intend it to be more than that in terms of a broader financial offering that suits our business-to-business customers in terms of development funding, and even then, perhaps into some syndication around developing and building, and getting clients into their homes,” he said.