Scottish family-owned firm Muir Group has secured a range of new contracts and acquisitions as it looks to build on growth across its construction and housing divisions. The Glenrothes-based company, one of Scotland’s largest privately owned businesses, is entering 2024 with a full order book, thanks to new agreements with long-standing clients and recent strategic investments in housing developments.
Muir Construction has announced repeat business contracts with major companies such as investment manager Abrdn, alongside work within Scotland’s whisky industry. Among the projects is a whisky maturation refurbishment for John Crabbie & Co. in Kirkcaldy and work for Ardgowan Distillery in Inverclyde. These contracts are set to extend the construction division’s workload well into next year.
On the residential front, Muir Homes has made a significant acquisition, purchasing the remaining homes from Stewart Milne Group’s development in Auchterarder, Perthshire. Stewart Milne Group entered administration, and Muir Homes’ purchase from administrators Teneo Financial Advisory will allow the completion of partially constructed homes in the area.
John Muir, founder and executive chairman of Muir Group, said the drop in interest rates has provided a boost to the housing market, with mortgage rates dropping to below 3.9% and, in some cases, as low as 3.7% on five-year fixed terms.
“The recent reduction in interest rates has spiked interest in our luxury homes. We’re seeing strong sales across our developments in Peterhead, with only a few homes remaining at Deeside, Laurencekirk, Stanley, and Glenboig,” said Mr Muir.
The company is also preparing to launch new developments in the Central Belt and Fife, with plans to begin work on sites in Dalgety Bay over the coming months. These projects are part of Muir Homes’ broader strategy to meet rising demand for housing in Scotland.
Another major focus for Muir Group is its involvement in the Forth Green Freeport development in Rosyth. The company is positioned to benefit from contracts linked to this 100-acre site, which aims to attract industrial and commercial investment. John Muir said the project has the potential to create thousands of green jobs and establish Scotland as a leader in sustainable technology.
“We are working towards securing contracts at Forth Green Freeport, which is a game-changer for both the local economy and Scotland’s standing in green technology,” said Mr Muir. “The recent designation of the tax sites is a welcome step, and we hope to see seed funding from both the Scottish and UK governments soon.”
Muir Group’s other subsidiaries, including Muir Timber Systems and Deer Park Golf & Country Club, are also seeing steady growth. Muir Timber Systems, which emerged from Muir Homes and operates out of the company’s Inverkeithing facility, has secured new contracts with several housebuilders, as well as repeat business from existing clients.
Deer Park Golf & Country Club has experienced an increase in membership, and new indoor activities are being introduced for the winter season, reflecting Muir Group’s diversified business interests.
As Muir Group continues to expand its portfolio and secure new contracts, the company is poised for continued growth into 2024 and beyond.
