Sheffield-based housebuilder Honey has secured 21 sites across Yorkshire and the Midlands, aiming to deliver 2,850 homes with a gross development value of £795m within its first two years of trading.

Launched in October 2022, Honey is backed by private equity firm Alchemy Partners, which manages the £937m Alchemy Special Opportunities Fund IV, supporting high-growth businesses.

Honey has achieved £85m in forward sales in its second full year of trading and recently launched a partnerships division to expand its affordable housing offering. The division will initially deliver 286 affordable homes across four sites, with forward sales of £60m. It is also finalising agreements on a further 238 units through additional partnerships.

With regional headquarters in Sheffield and Leeds, Honey has grown to 80 employees and continues to recruit as it expands its footprint across Yorkshire and the Midlands.

Honey has secured £235m in funding, with £75m in equity from Alchemy Partners and £160m in bank financing from Beaufort Capital, Heritable Development Finance, Hampshire Trust Bank, and OakNorth, supporting its ambitious growth plans.

Honey CEO Mark Mitchell

Honey founder and chief executive, Mark Mitchell, said:
“We are significantly further ahead of where we planned to be after two years. Our product has been fantastically well received, with our combination of style, substance, and sustainability providing buyers with more of what they want and need at the price points we sell at. We are now firmly into our build-and-sell phase and remain focused on delivering outstanding new homes underpinned by excellent customer care before, during, and after each sale. Thanks to our funders, we have the financial firepower to acquire more sites and will be looking to do so throughout this year, including expanding our development footprint further south in the Midlands.”

Thomas Boszko, Alchemy Partners, added: “It’s been an incredible two years of growth for Mark and the Honey team, and this year will be yet another step up for the business. We are very pleased by the extraordinary progress Honey has made, and we look forward to continuing to support the business as it expands the brand throughout Yorkshire and the Midlands.”

Over the past 12 months, Honey has been shortlisted for nine national and regional business and property awards.

Mark Mitchell continued:
“We have a great team of people at Honey who contribute to our success on a daily basis. We have the energy and agility of a fast-growing start-up business, and this is being recognised within our industry and by the wider business community. We pride ourselves on thinking differently within our space, which is key to us being able to continually provide a refreshing approach to housebuilding.”

Honey has used consumer insights and trends to develop 23 flexible house designs, catering to modern buyers' needs, including adaptable living spaces and sustainable features like EV charging points in every home.

Standard features in every Honey home include bi-fold doors, individually designed fully integrated kitchens, and boutique-style bathrooms with a signature freestanding bath and full-height tiling.