PE-backed developer lodges plans for £50m residential scheme

Sheffield-headquartered housebuilder, Honey, has submitted plans for to deliver a £50m, 174 new home development in Killamarsh.Called Aurelle, the proposed development will be off Upperthorpe Road. Subject to planning, it comprise a mix of one, two, three, four and five-bedroom homes and will include semi-detached and detached properties.Allocated as part of the district’s local plan, 35 of the site’s 174 homes will be designated as affordable housing.Honey will also be contributing to local initiatives, including a commitment to an overall biodiversity net gain for the development.If given the go ahead by council planners, construction is expected to start in summer with first residents able to move in from next spring.Founded in October 2022, Honey is backed by private equity firm Alchemy Partners and its Alchemy Special Opportunities Fund IV which has £937m of fully committed capital.Since the start this year, the developer has secured six sites across Yorkshire, Derbyshire and Nottinghamshire which, subject to gaining consent, will deliver 867 new build homes and revenues of £262m.Chief executive officer, Mark Mitchell, said: “We are committed to delivering homes designed to combine style, substance and sustainability for the benefit of our buyers and the communities in which we build.“Aurelle is a fantastic example of this. Our proposed development will provide high quality, high specification new homes to meet the significant demand that exists in and around Killamarsh.“Having submitted our plans for the site, we now look forward them being considered by North East Derbyshire District Council to make our vision for the development a reality.”