Project manager 3PM to hit £2m turnover after buyout

Project manager 3PM is on course to hit a turnover of nearly £2m in its fifth year of business.

The consultancy was founded in 2012 by Patrick Watson, a former operational director at Buro Four, David Bird, previously a partner at Hornagold & Hills, Rob Burborough, a former director at Turner & Townsend and Ian Higgs.

They were brought together by quantity surveyor Robinson Low Francis, which initially had a share in the ownership of 3PM but sold its stake to the partners last May.

In its first year since the buyout, 3PM is set to post a turnover of £1.7m for the year and is expected to hit a turnover of £2m next year.

The 15-strong firm has recently promoted two of its staff - Suzannah Howson and James Buckley-Walker - to partners and is aspiring to grow to up to 40 employees.

Specialising in the science, research and education sectors the firm, has won work on a number of major projects including the project manager role on the London School of Economic’s new £140m Paul Marshall Building (pictured) at 44 Lincolns Fields in central London.

3PM is a sub-consultant to Gardiner & Theobold on the project, which has been designed by Grafton Architects. It is part of the LSE’s estate improvements programme and will see the former Cancer Reserch UK building turned into a home for the school’s accounting, finance and management academic departments and research centres, including the Marshall Institute, as well as containing sports and arts facilities.

A planning application for the development is expected to be submitted by the end of the month and subject to planning approval is scheduled to complete in 2021.

The firm is also working on the state-of-the-art manufacturing centre for the Cell Therapy Catapult at the Stevenage Bioscience Catalyst, which is being part-funded by Innovate UK and beat off around 60 rivals to become the sole project managemtn services provider on City University’s Property and Facilities Estates Department for Project Management services framework.

Watson said the firm was “aiming to position ourselves as the one to go to for complicated projects”.

He added: ” However, we will be careful as to what we do and don’t bid for. We’re unlikely to bid for things that we don’t speclialise in.”

“The firm is now set for its next band of growth,” Burborough said.