A Sunshine Coast modular homes builder is set to almost triple its output via a new $20 million facility.
Oly Homes’ expansion is expected to help the company respond to soaring demand for faster, more accessible housing solutions.
The 21,900sqm factory, largely supported with funding from Commonwealth Bank of Australia, will be built on a double site at Sunshine Coast Industrial Park at Corbould Park.
Construction is expected to start this year and the facility should be completed in the second half of next year. It should allow Oly Homes to increase its output from about 200 to 550 homes per year, and create 70 jobs.
Managing director Dale Funston said prefabrication offered clear benefits.
“Factory production means we don’t lose build days to weather,” he said.
“We have all trades on hand every day so there’s no time lost to scheduling, and we can run multiple projects concurrently.
“But the number of customers knocking on our door is outpacing what we can deliver, so it’s time to expand.”
Oly Homes currently operates out of Yandina, with a second yard at Cooroy, but once the new facility is built at Corbould Park the company will consolidate there.
“Oly Homes has spent years refining the modular process to build faster, smarter and with less waste, but demand is now outpacing what we can deliver,” he said.
“With the new factory, we’re scaling up to meet demand and deliver more high-quality homes to Australians who need them: it’s great for home buyers.
“We’re currently booked out more than six months in advance. The growth the new facility will provide can’t come soon enough.”
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CBA Business Banking group executive Mike Vacy-Lyle said the partnership would help tackle Australia’s housing shortage.
“Oly Homes can build and install a two-bedroom, two-bathroom house in just nine weeks,” he said.
“We’re proud to support Oly Homes to scale up and deliver much-needed housing.
“Imagine what could be achieved if this innovative housing model was more widely adopted.”
The new facility will form part of a broader effort by CommBank to help scale up Australia’s prefab housing industry, including the launch of its new list of CommBank Assessed Manufacturers, which is aimed at making it easier for customers to secure finance during the offsite construction phase.
Oly Homes is among the first builders on the list, which opens the door for customers to access progress payments of up to 80 per cent of the contract price or 150 per cent of land value before the home is installed onsite.
CBA Home Buying executive general manage Marcos Meneguzzo said the new lending policy would give customers more flexibility and financial access.
“We believe this change will open the door for more people to explore prefabricated construction as a faster, more accessible path to homeownership,” he said.
