December 1, 2020
Hayfield has forecasted it will hit the £100m milestone in 2021, by delivering over 300 luxury homes across middle England. The multi award-winning housebuilder’s turnover for the current calendar year is in excess of £50m.
The Solihull-headquartered business has defied the challenges encountered by the industry in this unprecedented year by growing by 25 per cent, despite a two month pause of all construction activity during the Coronavirus Lockdown 1.0. Hayfield has launched two new developments in recent months and its remarkable sales performance across all live sites has resulted in solid growth of the business during the 2020 Covid year.
Mark Booth said: “This has been a year like no other. During the first national lockdown every housebuilder across the country went into survival mode. However, knowing that the pandemic would result in a shortage of new homes, we made the proactive decision to re-start construction across all our developments in May. No-one predicted the surge in sales to the UK’s housing market when it was able to re-open, and from our perspective it is yet to show any signs of slowing down. We enter 2021 with an astonishing forward order book of 40 per cent.
“In order to deliver significant growth, we continue to work hard with our supply chain to maintain the rate of construction on our eight development sites, whilst working to our Covid-19 Safe Operating Procedure. We secured a five-star customer satisfaction rating from the Home Builders Federation (HBF) at the start of the year and we hope to maintain this status in March 2021, while also gearing up to double our turnover to £100m.”
Hayfield’s growth has been fuelled by £85m of equity and debt funding, which has enabled the four-year old housebuilder to acquire a significant land bank. A £50m senior debt site acquisition facility, together with rolling development funding, is provided by OakNorth Bank plc. In addition, a prominent Dubai-based family office private investor – with over 30 years’ property development experience in the UK and internationally – has provided a £35m rolling equity facility. Hayfield has secured three new prime development sites in Buckinghamshire and Bedfordshire over the past two months.
In response to the Government’s Green Revolution pledge, Hayfield will install Air Source Heat Pumps, underfloor heating, the smartest electric vehicle fast-charging points available, and ultra-fast broadband into all new and upcoming developments. The sustainable heating technology has been proven to cut carbon emissions by up to 45 per cent, while also delivering significant energy cost savings to residents. The efficiency savings and air quality can be enhanced when combining Heat Pumps with underfloor heating, so this will also be installed into the ground floor of all Hayfield homes. Where electric vehicle charging has been installed at current Hayfield developments, it has encouraged occupiers to switch to electric vehicles, so this technology will also be rolled out across the board. Hayfield will be installing the new generation of fast-charging points which are compatible with all makes and models of electric vehicles.
Hayfield specialises in building luxury family houses and has eight live sites located in prime locations in Warwickshire, Oxfordshire, Bedfordshire, Cambridgeshire, Buckinghamshire and Wiltshire where a total of 554 homes are currently under construction.
In 2019, Hayfield made history by becoming the first ever to be crowned Best Small Housebuilder in both the WhatHouse? and Housebuilder Awards. Hayfield also won Best House Under £750k at the 2019 Evening Standard New Homes Awards and Residential Developer of the Year at the 2019 Insider West Midlands Property Awards. The company has also scooped three NHBC Pride in the Job Awards.
For more information on Hayfield’s development portfolio, visit: https://www.hayfieldhomes.co.uk/