A developer of affordable housing and Extra Care schemes is marking its fifth anniversary with what it says are record revenues.
Keon Homes, which was founded in 2018 by Richard Williams, Warren Bolton and Noel Sweeney, is on course to hit turnover of £40 million by the end of 2023 – some £12 million up on 2022.
The Burntwood company’s growth has led to a big recruitment drive, with more than a dozen new staff, taking the total workforce to 50 along with more than 90 indirect employees within its supply chain.
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Management said Keon Homes has a £100m pipeline of secured and unsecured developments which, alongside existing projects, could see it pass the £50 million turnover mark in 2024.
The firm’s rapid growth was celebrated 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 anniversary, learn about future plans for the business and to hear about its CSR plans that will see employees split into teams to raise money for five chosen charities.
Keon Homes managing director Richard Williams said: “We’ve come a long way since our first year when we arrived on the scene and were turning over £400,000.
“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.
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“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’.”
He said this year had been transformational for Keon Homes, with the company securing its first two Extra Care schemes.
It started the year by announcing a £15 million deal with Wrekin Housing Group to deliver a scheme of 70 properties and a host of communal facilities.
Situated 10 minutes’ walk from Newport ion Shropshire, Queenswood will provide 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.
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That deal was followed by the £28 million ‘Streethay’ development in Lichfield with Sanctuary Group, the largest project in Keon Homes’ 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.
Keon Homes founding director Warren Bolton said: “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."