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Research facility BRE has revealed plans to double turnover and staff numbers in five years as part of a surprise expansion and restructuring programme.

A holding company, provisionally named BRE Holdings, has been formed, which will focus on developing and selling BRE鈥檚 land assets, acquiring companies and expanding BRE companies.

Martin Wyatt, chief executive of BRE Group for the past 10 years, will become chief executive of BRE Holdings. Peter Bonfield, previously managing director of the construction division, becomes chief executive of BRE. BRE Trust will remain the parent company.

Wyatt said BRE planned to double turnover to 拢80m by 2012 and to increase the number of staff from 600 to more than 1,000. Turnover for 2006 was 拢32m.

Wyatt said: 鈥淲e want to place BRE in the top quartile of consulting businesses.鈥淲e get about 5% profit on turnover and we are aiming for 8-10%.鈥�

The plans include selling off BRE鈥檚 Cardington site in Bedfordshire to raise funds for expansion.

Wyatt said BRE鈥檚 Watford site was not fit for purpose and revealed that the body would embark on a new-build programme there.

BRE Holdings is looking to make acquisitions, although Wyatt refused to reveal which companies were being considered.

He said: 鈥淲e are in a position to acquire, although we are not pinning our hopes on it.

鈥淲e should buy something within a year or two.鈥�

Existing companies, such as BRE Education & Training and BRE Ventures, would be expanded, but Wyatt said no other companies would be set up.