Modular housebuilder TopHat has pressed pause on its plans to open Europe’s biggest modular homes factory in Corby.
Production was due to start this year at the 650,000 sq ft facility.
Backed by a £15m debt facility with Homes England and funding from the likes of Goldman Sachs, Persimmon and Aviva Capital Partners, construction work at the TopHat site is nearly complete.
Now, however, the opening is on hold, according to reports in the Construction Enquirer. A spokesperson for TopHat told the publication: “TopHat continues to believe it will only be through bringing volumetric factories of the scale of Corby on stream that the UK will be able to solve its long term housing crisis.
“However, the short term market conditions mean it is prudent to pause now with the building almost complete but no equipment yet on site. We continue to develop our pipeline and will monitor conditions closely to restart when it is right to do so.”
It follows the announcement of redundancy plans at TopHat.
