Lex Autolease fleet deal with Redrow Homes
- Three-year sole supply contract
- Supply initially of 600 cars and commercial vehicles
- Vehicles lease with maintenance, daily rental and accident management solutions
BILLION pound turnover property developer Redrow Homes has signed a new leasing deal over three years for an initial 600 vehicles with Lex Autolease to support an extensive recruitment drive.
The FTSE 250 listed business has agreed to lease an initial 600 cars and commercial vehicles as it plans to hire 250 new employees this year to join the existing 1,200-strong workforce.
The company, which has just announced record pre-tax profits of £104 million for the six months ending December 2015, has agreed a three-year sole supply contract with Lex Autolease which is expected to significantly grow as the business rapidly increases its headcount.
The new deal is set to significantly reduce fleet costs for the property developer by digitising previously manual processes, including invoicing and online ordering.
Martin Gilpin, HR manager for Redrow Homes Plc, said: “As we look to continue to invest in our business following our record first half performance, it’s integral that we have the support packages in place to provide the best for our employees, and in Lex Autolease, we have a supplier that can quickly scale up to meet our needs.”
Lex Autolease’s business development manager Matthew McDonnell said: “Our work with Redrow demonstrates that leasing can provide large businesses with the support needed for a significant increase in headcount over a short period, together with delivering savings that can be reinvested back into growth.
“Additionally, by providing the company with maintenance, daily rental and accident management solutions, we can ensure Redrow keep their vehicles on the road with the minimum of downtime. Together with Lloyds Banking Group, we’ll strive to support the business on its upward growth trajectory.”
Paul Foster, relationship director forLloyds Commercial Banking, added: “As the housebuilding sector gathers momentum, Redrow is primed for further growth in 2016 and we look forward to continuing our relationship as the firm moves on to greater success.”
Redrow is one of the UK’s leading residential property developers, aiming to be the developer of choice for customers, colleagues, landowners, suppliers, subcontractors and investors. The company recorded annual turnover of more than £1 billion for the first time in the last financial year.