One of the West Midlands’ fastest-growing providers of affordable homes and social housing has completed a £15m deal to build a new ‘Extra Care’ development in Shropshire.
Keon Homes, which has already seen turnover rise by 33% to £25m in 2022, has purchased land off Bloor Homes at its Hutchinson Gate site in Newport and will now work with The Wrekin Housing Group to deliver a scheme of 70 properties and a host of communal facilities.
Ideally situated just a ten-minute walk into the market town, Queenswood will provide high quality 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.
Groundworks have already started, with a 20-strong team on site from March with the aim to complete the development in spring 2025.
“This is a massive milestone for the business and the first time we will be constructing an ‘Extra Care’ scheme,” explained Matt Beckley, Head of Development at Keon Homes.
“We have spent the last year getting to know The Wrekin Housing Group and what it looks for in its developments. This gave us the insight to identify this opportunity with Bloor Homes and we quickly tied up the deal to purchase the 1.5acres of land with view to building the 70-strong mix of apartments and shared living spaces.”
He continued: “The location is perfect. Just a few minutes away from the centre of Newport, which gives residents the opportunity be a real part of the local community and enjoy everything the sought-after market town has to offer in terms of shops, walks, pubs and restaurants.”
Keon Homes was formed by Richard Williams, Warren Bolton and Noel Sweeney in 2019 after they spotted an opportunity in the market for a developer who could provide much-needed affordable housing and care schemes.
The Burntwood-based company, which alongside Cameron Homes, Galliers Homes and Chasetown Civil Engineering is part of The Tara Group, has enjoyed rapid growth over the last two years, completing 142 plots with a further 500 either in build or part of a secure pipeline of sites.
Keon Homes works across the Black Country, Birmingham, Shropshire, Staffordshire, Worcestershire and parts of the East Midlands, specialising in a land-led model that will find, secure and purchase sites suitable for low-cost housing and ‘Extra Care’ schemes.
Matt went on to add: “The Wrekin Housing Group is a prime example of the type of partnership working that Keon Homes is really pushing and marks the largest joint venture with a client in our short history.”
Charlotte Prince, Development Manager at The Wrekin Housing Group said: “Our new Extra Care scheme will bring huge benefits to Newport and its surrounding communities. This is an exciting project that will help meet the growing demand for older people’s housing and create much-needed job opportunities for local people.
“Our ShireLiving brand has a strong track record when it comes to providing modern, secure and vibrant facilities that allow our tenants to enjoy a hassle-free retirement. We’re delighted to be working with Keon on this exciting development.”
Euan Grant, Managing Director of sister business Chasetown Civil Engineering, concluded: “We are proud to be working alongside Keon Homes and our long-standing client, Bloor Homes, on this prestigious scheme in Newport.
“It reinforces how far Keon has progressed and it’s great to see its branding alongside well-established construction names and The Wrekin Housing Group on the advertising hoardings at the entrance to this project”.
Queenswood will be the first ‘Extra Care’ scheme completed by Keon Homes, with a second development set to be announced shortly.
Moving into this area of development will help the business capitalise on recent expansion and increase turnover past £25m in 2023.
Source: Shropshire Live