Wetherby-based Newett Homes receives £10m investment from BGF

Family-owned housebuilder, Newett Homes, has announced a £10 million growth capital investment from BGF – one of the largest growth capital investors in the UK and Ireland.

Newett Homes says the investment from BGF will allow it to accelerate its build rate and realise its “ambitious growth strategy” to deliver more than 400 homes per year across the region.

Commenting on the deal, Will Newett, CEO at Newett Homes, said: “Over the last 18 months we have laid solid foundations for growth, building up a substantial landbank and investing in talent across all levels of the business.

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"Our focus is creating luxurious forever homes built to the highest of standards and we have ambitions to significantly expand our footprint across the north of England.

The Pastures, in Harrogate. Picture by Benedict SmithThe Pastures, in Harrogate. Picture by Benedict Smith
The Pastures, in Harrogate. Picture by Benedict Smith

“To deliver our strategy, we wanted a minority investment partner that recognised the potential of Newett Homes and had strong credentials in helping housebuilders to scale. We can’t wait to see what our business can achieve with BGF’s backing.”

The Yorkshire-based company was founded in 2016 by Mr Newett. Since then, the housebuilder has accumulated a significant landbank totalling more than 3,000 plots.

Newett Homes, which is headquartered in Wetherby, was recently awarded Residential Developer of the Year for the Yorkshire region at the National Home Builder Awards 2023.

The deal with BGF was led by Chris Boyes and Linda Nguyenova, investors in BGF’s Yorkshire team.

Mr Boyes will join the Board as non-executive director.