Founded in 1989 by brothers John and Michael Taggart, Taggart Holdings has grown from a Northern Ireland-based house-builder to a vibrant and dynamic international property development company, with offices in Ireland, Britain, eastern Europe and the US.
The property remit extends to all areas of development and their current property portfolio includes both residential and commercial properties in Ireland, Britain, mainland and eastern Europe and New Zealand, with a combined land bank valued in excess of £500 million.
In addition to offices in Derry, Belfast, Dublin and Manchester, Taggart Holdings has representative offices in Europe and in Florida.
The company employs more than 320 people and provides additional employment and business opportunities for many hundreds of sub-contractors and other providers of services to the group's many developments.
The financial results for 2006 saw Taggart Holdings delivering record growth, with turnover up 134 per cent to €164 million and operating profits up 103 per cent to more than €36 million.
Products/services:Taggart Homes offers houses which combine excellent design, quality workmanship and a highly-attractive turnkey package. The package includes tiling, painting, kitchen design, flooring and bathroom suites, with the company ensuring that all work is carried out before the customer takes possession.
The quality of Taggart Homes has earned the company an outstanding reputation for both craftsmanship and value. In 2006, in partnership with the private client arm of Goodbody Stockbrokers, they acquired the Northern Ireland property company Fraser Estates and Cecil M.Yuill Ltd, one of the leading house-building companies in north-east England.
Customers:The core Taggart customers are families and first-time home-buyers, with the main focus being on the residential housing market in both the Republic and Northern Ireland, Britain and Europe. Other stakeholders include local authorities, legal and business advisers, land agents, estate agents and financial institutions.
Q:Describe your progression from start-up to your current status?
A:After a number of years in London I had some money saved and in 1986 I put a deposit down on a site in Derry city, where I built my first house, which sold for £45,000. One house led to two and two became three. That's how I started. In 1989, my brother John joined me to form Taggart Holdings. Our first development consisted of 15 homes, the next increased to 45. In the 1990s we built and sold 500 houses in the Waterside area of Derry and in time became the largest builder in Northern Ireland. In 2006 we acquired two construction companies and increased our turnover 100 per cent to more than €165 million.
Q:What motivates you to succeed?
A:Building a business from scratch, moving into new countries and markets, offering attractive and stimulating job opportunities and acquiring and integrating companies into Taggart Holdings. This is what gets me up in the morning.
Q:Express the biggest challenge you see your industry facing?
A:Locating and identifying opportunities are the biggest challenges facing our industry. The way forward for us is through acquisitions. Identifying and acquiring good local companies operating in our markets who possess the right know-how with good contacts is our main challenge. I believe, given the high price of building land, that this is a far more efficient way of growing a construction business.
Q:Has your Irishness contributed to your success?
A:I very much believe so. Going through the recession of the late 1980s and 1990s, when the economic picture was bleak, was a learning experience. We learned not to take things for granted and to be frugal with our cash. Irish people are very resilient and innovative and have the ability to look around corners, which is a great asset in business.
