Housebuilder has agreed a forward sale deal for a 60-home scheme with Together Housing Group

The housebuilder set up by the former boss of Avant Homes has announced the launch of a partnerships business.

Sheffield-headquartered Honey has secured four sites to deliver 286 affordable homes across Yorkshire and Derbyshire, with forward sales revenues of £60m.

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Source: Honey

Planned scheme at Witham St Hughs, near Lincoln

Honey was established by Mark Mitchell, after the 2021 takeover of Avant Homes, where he had previously been chief executive. 

Avant was bought by Berkeley DeVeer, in a deal spearheaded by former Persimmon boss Jeff Fairburn and backed by Elliott Advisers.

Founded in October 2022, Mitchell’s new business has taken a large number of staff from his previous employer and has attracted investment from private equity firm Alchemy Partners and its Alchemy Special Opportunities Fund IV which has £937m of fully committed capital.

The business filed its first set of accounts for a small company last March, recording no turnover and a negligible loss.

The new partnerships business will be called ‘Partnerships by Honey’ and will work with local authorities, private rented sector (PRS) providers, registered social landlords and housing associations to deliver projects.

The housebuilder has agreed a partnership with Together Housing Group for a proposed 60 new homes in Holmewood, and made deals with three other soon to be announced providers for sites in Duckmanton, Low Moor and Witham St Hughs sites.

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Honey is also working on terms on a further two partnerships sites to deliver another 238 units.

Honey chief executive, Mark Mitchell, said: “Our stated social purpose is to make more homes available to those people who need them most, and that is exactly what [partnerships by Honey will do.

“Our refreshing approach to housebuilding is reflected in our approach to partnerships. We think differently to enhance the traditional model by adding insight and value at every stage.

“We are very pleased to have secured our first four partnerships with some excellent providers. Our intention is to scale this very important aspect of our business to play our part in helping deliver the government’s social and affordable housing targets.”

Honey currently has 13 developments across Yorkshire and the Midlands.