Housebuilder’s £60m developments move forward

Housebuilder Honey is moving forward with plans to build almost 200 new homes across two sites in the East Midlands.

The private-equity-backed housebuilder has exchanged contracts on locations in Eastwood, near Nottingham and Kirkby-in-Ashfield, with a combined gross development value of £59.5m.

In Kirkby-in-Ashfield, Honey plans to develop Melrose, a 63-home site off Diamond Avenue.

The £18.5m development will offer a range of two, three, and four-bedroom homes, featuring a mix of Honey’s house types.

In Eastwood, Honey aims to build Raleigh, a 125-home development on a 13.3-acre site off Church Street, valued at £41m. The development will also include a mix of two-, three-, and four-bedroom homes.

Honey has already submitted plans for the Melrose development in Kirkby-in-Ashfield and will submit plans for Raleigh in Eastwood in the coming weeks.

The housebuilder is backed by private equity firm Alchemy Partners and its Alchemy Special Opportunities Fund IV.

Honey chief executive officer, Mark Mitchell said: “Securing these sites in Eastwood and Kirkby-in-Ashfield is an excellent way to start the year as we continue to expand our development footprint in the East Midlands.

“Both of our proposed developments will deliver much-needed homes that combine style, substance and sustainability for a variety of buyers in these communities. We are excited by the prospect of bringing our vision for these developments to life and look forward to working with the relevant local authorities to do this.”

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