Newett Homes secures £10m investment from BGF

We are pleased to announce, we have secured a £10m growth capital investment from BGF to support us in our plans to build more than 400 homes annually across the region.

Over the past 18 months, Newett Homes has laid solid foundations for growth and has built up a substantial landbank of more than 3,000 homes, this investment will continue to support our ambitious but robust growth strategy.

Will Newett, Chief Executive said: “Our focus is creating luxurious forever homes built to the highest of standards and we have ambitions to significantly expand our footprint across the North of England.

To deliver our strategy, we wanted a minority investment partner that recognised the potential of Newett Homes and had strong credentials in helping housebuilders to scale. We can’t wait to see what our business can achieve with BGF’s backing.

I’d like to take this opportunity to thank everyone at Newett Homes for their continued hard work.”

Newly appointed Managing Director Paul Oldridge added: “Our land pipeline coupled with  the strength of the management team and the support of BGF gives the business the potential to really makes it’s mark on the residential sector.”

Chris Boyes will join Newett Homes board as non-executive director following the deal lead by investors in BGF’s Yorkshire team

“This is a great opportunity for BGF to invest in a business that has a strong pedigree in housebuilding and is well primed for growth. Newett Homes has built up an impressive reputation for delivering homes in quality locations.”