"We have the infrastructure, ambition and funding": Yorkshire housebuilder Honey reveals expansion goals
Yorkshire housebuilder Honey is eyeing substantial further growth after delivering more than £70m in revenue during 2025.
The Sheffield and Leeds-based company said it has posted revenues of £71.2m based on 288 legal completions across its 10 live sites in Yorkshire and the Midlands with an average private selling price of £297,000 which generated profit of £3.6m.
Honey was launched in October 2022 and is backed by private equity firm Alchemy Partners and its Alchemy Special Opportunities Fund IV which has £937m of fully committed capital.
The business currently has 29 sites capable of delivering more than 4,300 properties and says it is on track to deliver more than £175m of revenue this year with a projected profit of between £20m and £27m.
In addition, the housebuilder has negotiated £160m of secured bank facilities as it aims to achieve 1,000 legal completions in 2027.
Honey founder and chief executive, Mark Mitchell said: “Our performance has been driven by smart land acquisition, building a distinctive brand and delivering homes which provide the best combination of style, substance and sustainability at their price points.
“None of this would have been possible without the extraordinary capabilities of the 130 colleagues we now employ. Every day they go above and beyond to deliver Honey’s vision and values to ensure we are a refreshing alternative within the sector and, as a business, we are committed to continually investing in our people.
“Our Yorkshire and Central regional offices are now firmly focused on building and selling whilst driving operational excellence. We also plan to open a third operating region in the East Midlands in the second half of this year as we continue to expand our development footprint.
“Our strong rate of sale proves our focus on Yorkshire and the Midlands and the quality of our product is highly attractive to new home buyers in those regions.
“With our first full year’s trading now complete, we have the infrastructure, ambition and funding to further grow our business and brand. That is our focus this year and next, with the objective of securing 1,000 legal completions in 2027.”
Thomas Boszko of Alchemy Partners added: “Mark and the Honey team have created an outstanding business and a brand that is setting new standards within its markets.
“The momentum the business has achieved in such a short space of time is remarkable, and we are excited about the trajectory into 2026 and 2027.”