Portfolio News

GCV property delivery partner expands after record year

Regional housebuilder and Growth Capital Ventures strategic property delivery partner, Homes by Carlton, is on the expansion trail after enjoying its most successful year since returning to the market.

The award-winning County Durham housebuilder recently purchased two new sites in Whitton and Sadberge representing a combined development value of £17.5m. Construction is due to start in the coming months.

Simon Walker, MD, of Homes by Carlton, said:

Last year was a challenging but successful year. We intend to build on that success through further land acquisitions and site developments around the North East and North Yorkshire.

We’re building on our reputation for delivering high-quality homes in sought-after locations. We have seen there is a strong appetite for distinctly designed, large family homes and we remain committed to delivering these products.

During 2021, Homes by Carlton doubled in size with staff numbers increasing from seven to more than 20. Despite the impact of the pandemic and Covid restrictions there continued to be strong demand for properties at its three active sites in County Durham and Tees Valley.

At Middleton Waters, the company’s largest development with 198 homes planned at Middleton St George, more than 70% of phase 1 is sold or reserved. At Thorpe Paddocks in Thorpe Thewles, 60% of the development has been sold or reserved and at The Langtons in Redmarshall, over 25% of the luxury four and five bedroom homes have been sold or reserved off-plan.

New, up-and-coming developments include Eastfields, featuring a collection of nine 3, 4 and 5-bedroom executive homes nestled in the rural village of Whitton. The £13m site at Sadberge has planning for 46 homes with further details set to be announced in the coming months.

Simon Walker, of Homes by Carlton, added:

The coming months look very exciting for Homes by Carlton. Our focus continues to be on providing high quality new homes in the right locations throughout the region, meeting the demands of the north’s homebuyers.

As we move through 2022 and beyond, we will deliver our pipeline of 500 new homes, and continue to add to it through strategic land acquisition and the continued delivery of our award-winning homes.

 

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Growth Capital Ventures (GCV) is backed by funds managed by Maven Capital Partners, one of the UK’s leading private equity and alternative asset managers.