A rapidly expanding developer of affordable housing and Extra Care schemes is celebrating its fifth birthday in style after announcing a record year.
Keon Homes, which was founded in 2018 by Richard Williams, Warren Bolton and Noel Sweeney, is on course to hit £40 million in revenue by the end of 2023 – a £12 million increase on the previous twelve months.
The Burntwood-based company’s growth has also resulted in a major recruitment drive, with more than 12 new people employed, taking the total workforce to 50 and more than 90 indirect employees in the supply chain.
Its rapid expansion 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.
“We’ve come a long way since our first year when we arrived on the scene and were turning over £400,000,” explained Richard Williams, Managing Director of Keon Homes.
“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.”
He continued: “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.”
2023 has 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.
This was quickly followed by the £28 million ‘Streethay’ development in Lichfield with Sanctuary Group, the largest project in Keon Homes’ five-year history.
Keon Homes, which was ranked 33rd in the Small Business Great Places to Work competition, has a £100m pipeline of secured and unsecured developments.
If this materialises, alongside existing projects, it is expecting to pass the £50m turnover mark in 2024.
