Emerging housebuilder Honey has achieved remarkable growth, securing 21 sites across Yorkshire and the Midlands to deliver 2,850 homes with a gross development value of £795 million—all within just two years of trading.
Launched in October 2022, the Sheffield-headquartered company has quickly established itself as a key player in the UK housing market. For the financial year ending 31 December 2024, Honey has already secured £85 million in total forward sales.
Earlier this year, the company also launched a partnerships division, which will initially deliver 286 affordable homes across four sites, generating forward sales of £60 million. Negotiations are also underway for two additional partnerships sites, totalling a further 238 units.
With five active developments, Honey has achieved a sales rate of 0.69 for the year, with an average selling price of £290,000. The company has also earned a 100% customer satisfaction score in all independent surveys conducted by In-house Research, reinforcing its reputation for quality and service. From 2024, these metrics will be measured against the Home Builders Federation (HBF) customer satisfaction survey.
Honey currently employs 80 people across its two regional headquarters in Sheffield and Leeds. The company has secured £235 million in funding, including £75 million in equity investment from private equity firm Alchemy Partners and £160 million in bank financing from four leading lenders.
Mark Mitchell, founder and chief executive of Honey, expressed confidence in the company’s trajectory:
*”We are significantly ahead of where we expected to be at this stage. Our homes have been incredibly well received, offering the perfect blend of style, quality, and sustainability—delivering exactly what buyers want at an accessible price point. Now firmly in our build-and-sell phase, we remain committed to providing outstanding new homes with exceptional customer care before, during, and after purchase.
With strong financial backing, we are actively seeking new sites and plan to expand further south into the Midlands this year.”*
Thomas Boszko of Alchemy Partners praised Honey’s rapid progress:
“Mark and the team have delivered incredible growth in just two years, and 2024 will be another significant milestone for the business. We are excited to continue supporting Honey as it strengthens its presence across Yorkshire and the Midlands.”
Over the past year, Honey has been shortlisted for nine national and regional property and business awards, reflecting its innovative approach to housebuilding.
“We have built an agile and forward-thinking team, and it’s fantastic to see our approach being recognised both within the industry and the wider business community,” Mark added. “By thinking differently and keeping the needs of modern homebuyers at the heart of our designs, we are redefining what buyers can expect from a new home.”
Honey’s 23 house types are designed using detailed consumer research to meet the evolving needs of today’s buyers, with a focus on flexibility and functionality. Every home features bi-fold doors, fully integrated designer kitchens, boutique-style bathrooms with a signature freestanding bath, full-height tiling, and an electric vehicle charging point as standard.
As Honey continues to expand, its commitment to quality, innovation, and customer satisfaction ensures it remains one of the most exciting new names in the UK housebuilding industry.
Building, Design & Construction Magazine | The Choice of Industry Professionals
