- Honey also announces profit of £3.6m for year ended 31 December 2025
- As at 1 February 2026, the housebuilder has secured 29 sites that will deliver 4,371 homes with a combined gross development value of £1.3bn
- Honey plans to open a third operating region in the East Midlands in H2 this year
- The housebuilder is on target to achieve 1,000 legal completions in 2027
Housebuilder Honey has announced its financial performance following a first full year of trading for the 12-month period to 31 December 2025.
Honey 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.
During the period, the housebuilder had a private sales weekly reservation rate of 0.65 and a private sales gross margin of 23.4 per cent.
Honey also secured three additional partnership contracts over the 12 months which account for 254 plots and £55m in revenue. This is in line with the company’s business model which sees 25 per cent of its volumes delivered through partnerships.
As at 1 February 2026, Sheffield and Leeds-based Honey has secured 29 immediate sites that will deliver 4,371 homes with a combined gross development value of £1.3bn. Nine of those sites were secured last year, whilst Honey’s strategic land team added an additional five longer term sites in its first six months to 31 December 2025.
The business is 35 per cent forward sold for 2026 and on track to deliver more than £175m of revenue this year with a projected profit of between £20m-£27m.
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.
In addition, the housebuilder has negotiated £160m of secured bank facilities providing it with the financial firepower required to achieve 1,000 legal completions in 2027.
Honey founder and chief executive, Mark Mitchell, commented: “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.”
During the period, Honey achieved a 97 per cent score on the Home Builders Federation (HBF) National New Homes Customer Satisfaction Survey.
Thomas Boszko, 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.”
As part of Honey’s commitment to making a sustainable difference within the communities where it is present, the housebuilder launched the Honey Foundation last year.
The Foundation has three elements – supporting charities, inspiring young people to be the best they can be through careers in housebuilding and giving the gift of time by volunteering.
Last year, the company and its people donated £131,000 and provided 63 volunteer days to Sheffield-based homeless charity The Archer Project and Leeds-based children’s charity KidsOut.
For further information on Honey visit www.homesbyhoney.co.uk