GLASGOW City Council has hailed the benefits of the building repairs and maintenance partnership it formed with social landlord Wheatley Group after the venture achieved a profit in its first year.

The council said City Building (Glasgow) achieved an underlying profit of £8.8 million in the year to March 31 paving the way for it to return £4.5 million to the two partners.

City Building (Glasgow) carries out repair and new build work for GHA and other housing associations controlled by Wheatley. It also does the council’s own repairs.

When the venture was formed in 2016 the council said it would help secure 2,000 jobs and more than 2,000 apprenticeships, with the prospect of 30 years work worth £2.7 billion.

Glasgow City Council owned the repairs and maintenance operation before the new venture was formed and ran it on an arms length basis.

The council-owned City Building (Contracts) operation achieved a £4.2m underlying profit in the latest year, during which it did construction work for the authority and private sector customers.

Executive director Graham Paterson said City Building continues to go from strength to strength under its new structure, delivering a strong economic contribution for its partners, helping to support thousands of jobs and to create training opportunities.Wheatley’s customers are also benefitting.

“We’re encouraged by the first set of financial results and look forward to developing City Building further to grow the business and deliver improved services,” added Mr Paterson.

City Building (Contracts) won a Queen’s Award for Enterprise this year in the Sustainable Development category.