Housebuilder achieves strong year-end with £100m turnover
Wavensmere Homes has completed 522 houses and apartments in 2023, generating a turnover of £100m for the financial year ending on December 31st.
The Birmingham-based housebuilder handed over keys to 56 houses and 466 apartments during the year, as part of major developments including the £175m Nightingale Quarter scheme in Derby city centre, the £106m Belgrave Village development in central Birmingham, and the £130m Barrelman’s Point scheme, a redevelopment of HMS Ganges on the Shotley Peninsula in Suffolk.
Established in 2015, Wavensmere Homes specialises in urban regeneration, focusing on large, complex sites with unique history and character.
The company aims to deliver 500 homes in 2024, anticipating a turnover of £115m.
In 2023, the average selling price for one- and two-bedroom apartments was £175,000, while two-, three-, four-, and five-bedroom family houses averaged £325,000.
James Dickens, managing director of Wavensmere Homes, said: “We are thrilled with how the business has performed during 2023, which is the culmination of a huge effort by a relatively small team. By seeking out the complex sites that our industry peers don’t have the finances, resources, or imagination to tackle, we have transformed constrained brownfield land into 522 quality, energy-efficient new homes this year.
“The homes we build are attainable, rather than unaffordable, which is resonating with the buying public during this prolonged cost of living crisis. We are proud that our investment in public open space and new facilities is captivating communities and bringing about the regeneration of the wider area.
“This track record and financial strength is why we have been able to announce four major new projects this year, which between them will deliver over 1,300 houses, apartments and 150,000 sq ft of commercial space over the coming years. Meanwhile, the 500 homes to be handed over during 2024 are already largely underway across our live sites.”
