Member Article

Keon Homes celebrates 5th birthday with record £40m present

One of the fastest growing developers of affordable housing and Extra Care schemes is celebrating its 5th birthday in style after announcing a record year.

Keon Homes, which was founded in 2018 by Richard Williams, Warren Bolton and Noel Sweeney, is on course to hit £40m in revenue by the end of 2023, a £12m increase on the previous twelve months.

The company’s growth has also resulted in a major recruitment drive, with more than twelve new people employed, taking the total workforce to 50 and more than 90 indirect employees in the supply chain.

Its rapid expansion was celebrated last week at a birthday party for all members of staff and representatives from parent organisation The Tara Group, including the daughter and wife of the late founder Noel Sweeney.

More than 100 people gathered in Birmingham to mark the big anniversary, learn about future plans for the business and to hear about the firm’s new CSR concept that will see employees split into teams to raise money for five chosen charities.

“We’ve come a long way since our first year when we arrived on the scene and were turning over £400,000,” explained Richard Williams, Managing Director of Keon Homes.

“Despite this massive growth, the core ethos we started the business on still remains today…forging strong relationships with housing associations and other building companies to unlock disused sites and contribute to solving the chronic shortage of affordable housing.”

He continued: “A lot of the time we’ll take on projects that require an extra level of innovation to overcome complexities, projects that many of our rivals will not touch. This has made the sector sit up and take notice and we are currently dealing with ten of the largest housing associations in the Midlands, including Bromford, Green Square Accord and Midlands Heart.

“It was fantastic to get everyone together and celebrate our achievements over the last five years. I know our business is about bricks and mortar, but it’s the people we employ that continue to be our heartbeat and ensure we continue to ‘do the right thing’.”

2023 has been a transformational year for Keon Homes, with the company securing its first two Extra Care schemes.

It started the year by announcing a £15m deal with Wrekin Housing Group to deliver a scheme of 70 properties and a host of communal facilities.

Situated just a ten-minute walk into Newport, Queenswood will provide high quality living space and wraparound care and support for people over the age of 55, offering a mix of one and two-bed apartments, private gardens and a café.

This was quickly followed by the £28m ‘Streethay’ development in Lichfield with Sanctuary Group, the largest project in Keon Homes’ 5-year history.

The Burntwood-based company is building 138 plots in total, comprising 60 bungalows and a 78-bed Extra Care scheme located on the Roman Heights.

Superstructure works have begun on the first timber frame bungalows, with the Extra Care village set to provide communal facilities including a café, gym/wellbeing room, salon, library and resident’s lounge.

Warren Bolton, Founding Director at Keon Homes, went on to add: “The Extra Care market is a major opportunity for our business and to seal two high-profile deals, in such a short space of time, will give us the platform we need to increase market share.

“Both projects are extremely ambitious and require strong partnerships between us and Wrekin Housing Group and Sanctuary Group. Importantly, they are also delivering much-needed homes and accommodation for the people of Newport and Lichfield, creating thriving communities in the process.”

Keon Homes, which was ranked 33rd in the Small Business Great Places to Work competition, has a £100m pipeline of secured and unsecured developments.

If this materialises, alongside existing projects, it is expecting to pass the £50m turnover mark in 2024.

For further information, please visit www.keonhomes.co.uk.

This was posted in Bdaily's Members' News section by Russ Cockburn .