Avant Homes to broaden product range and expand geographic footprint

Colin Lewis
Colin Lewis

Avant Homes has unveiled announces a series of strategic initiatives aimed at driving its annual turnover beyond the £500 million mark.

The housebuilder, which has sites across the Central Belt and an office in Stirling, is extending its geographic footprint and bringing forward nine new house styles.

The product range expansion ranges from 630 sq ft two-bedroom homes up to 1,140 sq ft four-bedroom homes.

Avant said the broadening of the range will significantly expand its potential customer base by offering a wider selection of size and price options to prospective buyers and help it reach 2,000 completions per year.

The group has also confirmed that it will open a fifth operating region to extend its geographic footprint in the north of England and Scotland, using its knowledge of existing markets to leverage this significant expansion opportunity.

The news comes after the company recently secured a £200m bank facility and appointed a new construction director for Scotland and follows the announcement of record results for its 2017 financial year, during which revenue increased 45% to £369m and operating profits rose 107% to £45m.

Since then, the Group has delivered a strong forward sales position for its 2018 financial year, with 1,220 home sales and £292m of revenue already secured only four months into the year.

This strong trading momentum has further contributed to the accelerated growth of Avant’s four existing regions, in line with management intentions.

Colin Lewis, chief executive of Avant Homes, said: “The exciting extension to our product range we have launched today speaks to our growth ambitions and ongoing mission to make our aspirational product available to more customers in our core northern UK markets. I was inspired by the Housing Market Intelligence Conference in 2015 which highlighted the market need for more attainable homes. We have been developing this extension to our product range across the last two years with the key aim of offering a compelling mixture of leading edge design and high specification at a price point which would make an Avant home available to more people. While average property sales volumes are continuing their recovery in Avant’s regions, these are still c.40% below their 2007 highs.

“Our exciting new 2017 design specification reflects the latest retail trends, giving our customers the home they want, not the product housebuilders say they should have. The overwhelming customer response we have received gives us confidence that the roll out of this specification across all our sites will support the continued ramp up of our growth plans.

“After an outstanding performance last year, we are delighted to have continued this strong trading over the past four months. Building on this momentum, we look ahead with confidence and will continue to scale up our four operating regions and open a fifth region to further our expansion in due course.”

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