Over the past 15 months, Avant Homes Scotland has managed to secure three new development opportunities that will create up to 180 sales, construction, and subcontractor jobs in the region. The new sites in Bishopton, Cairneyhill and Gartcosh have a combined value of £80 million and will see the construction of 299 homes.
These developments will enable Avant Homes to reach its target of becoming a £500 million turnover, 2,000-unit business across its operations in central Scotland, north east England, Yorkshire, and the Midlands.
“We are on a fast-moving trajectory and our momentum can only be maintained by securing new sites in the right locations and for the best price,” said David Knight, managing director at Avant Homes Scotland. “Our land buying team in Scotland has been outstanding over the past 15 months in finding excellent development opportunities and this has provided the platform for continued sustainable, profitable growth.”
Moreover, Avant Homes is also one of only three UK housebuilders consistently applying for sites with volumes exceeding 150 units during 2017. This news followed the announcement that the firm secured an enhanced £200m facility from HSBC, RBS, Santander and Bank of Ireland to significantly increase the housebuilder’s land acquisitions over the next 12-month period.
“The fact that as a group we were one of only three UK housebuilders regularly applying for sites with more than 150 units during last year is important. It shows both our ambition and the continued growing demand for our product throughout Scotland and our operations,” added David.
Avant Homes posted record revenue and operating profit number for the financial year to 30th of April 2018. Revenues increased 45% year-on-year to £369m, whilst operating profits rose 107% to £45m. These were delivered having achieved 1,636 total completions, up 35% compared with the prior year. This performance named Avant Homes the 46th fastest growing private mid-market company in The Sunday Times Grant Thornton Top Track 250 league tables.
