Marden Retrofit
Heat pumps in older rented housing
As at 30 June
What we do
We survey, fit and maintain air-source heat pumps in rented houses built before 1940 — the stock most installers will not quote for, because the fabric has to be dealt with before the plant goes in. We do the fabric first: loft, floor void, and the two or three cold bridges that make an older house behave badly. Then we size and fit the unit, and we stay on the property afterwards.
Who it is for
Landlords holding between ten and two hundred older properties, and the letting agents who manage that stock for them. They are working to a deadline set by a rating on a certificate, not by a preference, and they need one contractor who will take the whole house.
How we make money
A fixed price per property for survey and installation, quoted after the survey and held for sixty days. Then an annual maintenance contract, billed per unit, which is where the relationship actually sits. Roughly a third of revenue is under contract before the year starts, and that share has risen in each of the last four quarters.
What we need
Working capital to hold plant stock through the winter, when lead times run long and the work is at its heaviest, and an introduction to two managing agents with older portfolios in the same region.
40
properties completed
6
people on the books
31%
revenue under contract
11 days
median survey to handover
Properties completed · per quarter
Revenue by type
Installation62%
Maintenance contracts31%
Survey only7%