The former chief executive of Avant Homes, Mark Mitchell, has plans to launch a new housebuilding venture backed by private equity firm Alchemy Partners.
The new venture, called Honey, will seek opportunities to buy land at competitive prices and develop new homes. It has agreed initially to acquire two sites in South Yorkshire and Derbyshire to deliver a total of 141 homes with a combined gross development value of £40 million (€46 million/$45 million).
The new business is being funded by Alchemy Special Opportunities Fund IV, which has £937 million (€1.08 billion/$1.07 billion) of fully committed capital.
