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Although I’m conservative by nature, I think that change presents opportunity. If you identify an opportunity then you must be prepared to act fast, take a chance and be willing to invest time and money. Most importantly, you have to have the right people.
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He spent 15 years gaining strong experience under engineering and design experts such as John McIntyre and Ian Hamilton; and was Townsville Office Manager for Cardno at the time of their public listing. “When Cardno publically listed, I felt it was time to think about working for myself,” explains Pat. “As well, the trend of bigger groups buying out smaller businesses at the time left room in the market for new players. So, after some market analysis, I decided to start working for myself.” There was no GFC in sight at the time, but Pat still felt the pressure of leaving a fixed income behind. The business set-up itself didn’t require a lot of outlay, so with funds behind him to finance the venture and a solid business plan in place, Pat built the business from the ground up with some tendering but mainly from referrals. UDP Consulting Engineers grew quickly and after a discussion with a traffic engineer talking about retirement, Pat saw opportunity and offered to buy him out, acquiring Horman Traffic Pty Ltd. The business has grown organically since, and with the acquisition of the other companies now holds substantial market share.
Building Dreams
Many of Pat Brady’s old Ignatius College school mates now also hold significant roles in Townsville and he fondly recounts discussions with his then-schoolcaptain Ken Taylor about buying an office building together one day. Along with Henry Fracchia, the dream became a reality with the purchase of the heritagelisted Dalgety building on Denham Street, which UDP has occupied since 2011. “The building had gone from receivership to receivership and was very run down, so we were able to buy it at a good price,” reveals Pat. After substantial refurbishments are completed, Purcell Taylor Lawyers will move in and the building will be fully leased.
The road ahead
Urban development certainly isn’t feeling the hit from the mining industry that many other markets are at the moment. In saying that though, Pat recognises a slowdown in places such as Mackay, as a result of the reduced mining operations around the region; but then there is a swing-back of growth in places like Townsville. Any downturn in one area is always offset by growth in another. So while industries reliant on mining might be feeling pain, engineering and development projects will continually arise across Queensland and with an ever-growing reputation as a dynamic and energetic engineering consultancy, geographical expansion of the group is a logical step to take. UDP Group will expand its Brisbane operations, taking on central Queensland and penetrating other areas; but Townsville will remain the group’s base for its business.
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