Private equity-backed SME housebuilder, honey, to build over 250 additional new homes across Yorkshire following £12.2m of further funding from OakNorth.
OakNorth, the neobank for entrepreneurs, by entrepreneurs, has provided a further £12.2m loan to returning customer and SME housebuilder, honey, to part fund the acquisition and development of two of its latest major residential schemes.
The new housing schemes located in Huddersfield, West Yorkshire and Maltby, South Yorkshire, will provide a combined total of 252 new homes for the region. The Maltby site, consisting of 185 detached and semi-detached homes, will also include 46 affordable units and is situated close to Maltby’s town centre which is a short drive from the popular market town of Rotherham. honey’s new Huddersfield site will consist of 67 detached and semi-detached homes, including 13 affordable units and is situated in Fenay Bridge. The site is also within commuting distance from Huddersfield and Sheffield, as well as the larger commercial hubs of Leeds and Manchester via the M62 and M1.
About honey: Founded in October 2022 by former Avant Homes CEO, Mark Mitchell, honey builds original homes with a unique approach to design, space, and sustainability. Standard features in every honey home will include bi-fold doors, individually designed integrated kitchens, boutique-style bathrooms, and EV charging points. All units will also accommodate the Future Homes Standard, resulting in honey homes producing 75-80% fewer carbon emissions. The business is also backed by leading private equity provider, Alchemy Partners, who specialise in investing in debt and equity special situations across Europe. Alchemy currently has AUM of over £2.2b and has invested in over 200 transactions since its launch in 1997.