Leadership change for housebuilder with £100m turnover target in sight
Housebuilder Hayfield has announced changes to its leadership team as it targets £100m turnover.
Hayfield has promoted Andy Morris – formerly operations director – to the role of managing director.
Mark Booth, the co-founder of the company, will become chairman.
The Solihull-headquartered business defied the unprecedented challenges encountered by the industry in 2020 by growing by 25%. The company forecast it would double turnover during 2021 to £100m, a target that could be surpassed due to a strong sales performance in the first four months of this year, resulting in a current order book of £82m.
Booth said: “The timing is right for us to acknowledge the vital role Andy Morris plays in driving this business forward day in day out. He has recently recruited a senior team of highly experienced construction professionals, enabling him to progress to the role of managing director.
“The whole company is behind this internal promotion, and it will enable me to invest more time in the continued growth and diversification of Real Estate Capital Holdings, which is Hayfield’s parent company.”
Morris added: “Pausing work on all of our construction sites in March 2020, and then restarting work only six weeks later with robust socially distanced Covid secure protocols, is a business challenge no one in the construction industry could have ever foreseen. For Hayfield it was a turning point, as the £85m of new equity and debt finance we had secured – and our entrepreneurial can-do attitude – enabled us to press on with construction ahead of the vast majority of our competitors. We also broke ground on three major development sites within a four-week period at a time when the house selling market was still under severe Covid-19 restrictions.
“Our exceptional family homes located in prime semi-rural locations wholeheartedly respond to what today’s aspirational buyers want, resulting in today’s formidable order book value. Most of our homes are reserved several months in advance of completion. I am delighted to become Managing Director of this brilliant business and relish the challenge of working towards our goal of delivering 500 homes a year.”
