Avant Homes has secured 22 new development opportunities in the past 15 months as it accelerates toward its target of becoming a £500m turnover, 2,000-unit business.
With a combined value of £642m, the 22 new sites will provide for a further 2,485 homes to be built by Avant Homes across its operating regions of central Scotland, North-east England, Yorkshire and the Midlands. In addition, the company’s continued expansion will create up to 1,320 new sales, construction and sub-contractor jobs across its four regions.
Recent research by construction industry intelligence provider Glenigan showed that Avant Homes was one of only three UK housebuilders consistently applying for sites with volumes exceeding 150 units during 2017. Six of the 22 development opportunities arose from strategic land held under option by the housebuilder that it successfully promoted through the planning system. Three of the new sites are in Scotland, six in North-east England, five in Yorkshire and the remaining eight in the Midlands.
During the same period, planning permissions for a further 966 plots were also gained on strategic land. These comprise 488 plots on four sites in Scotland and 478 plots on four North-east England developments. The news follows Avant Homes’ announcement in August last year that it secured an enhanced £200m facility from HSBC, RBS, Santander and Bank of Ireland to significantly increase its land acquisitions over the next 12-month period.
Avant Homes Group Development Director, Stuart Rowlands, commented: “We are on a fast-moving trajectory and our momentum can only be maintained by securing new sites in the right locations and for the best price.
“Our land buying teams have been outstanding over the past 15 months in finding excellent development opportunities and this has provided the platform for continued sustainable, profitable growth.
“The added financial firepower that the new £200m facility has given us is already being utilised across our operating companies. We look forward making further announcements about the ongoing successful delivery of our land buying strategy.”