Gerry Loftus worked at Avant with Honey founder Mark Mitchell for six years 

Gerry Loftus

Gerry Loftus appointed as Honey’s non-executive chairman

Newly-formed housebuilder Honey has announced it has appointed Gerry Loftus, a board member at Avant Homes for six years, as its non-executive chairman. 

The appointment comes after Honey was set up last October by former Avant Homes chief executive, Mark Mitchell with backing from private equity firm Alchemy Partners.

Loftus has more than 25 years’ experience as a senior corporate finance partner with PwC and Deloitte, and is expected to help the newly-formed developer establish itself. 

Mitchell said: “I have a huge amount of respect for Gerry having experienced at first hand the wise counsel and strategic direction he provides.

“His appointment is a key element of our controlled growth strategy, and will further enable us to quickly establish Honey within the residential development sector in the north and midlands.”

Honey, which was launched in October last year, revealed last month it had taken on four former staff from £500m-turnover Avant Homes onto its management team.  

Loftus served on Avant’s board until it was controversially sold in April 2021, when the former boss of Persimmon Jeff Fairburn took over the northern housebuilder with a small Yorkshire-based firm Berkeley DeVeer. The deal was backed by fund manager Elliott Advisors.  

Honey is backed by private equity firm Alchemy Partners and its Alchemy Special Opportunities Fund IV, which has £937m of fully committed capital.

Honey is expected to start its first development soon - a £14m, 50-home development in South Normanton, Derbyshire. 

It also recently submitted plans for a £23.5m development called Iris on Barnburgh Lane, Barnsley for 95 homes. Both sites are expected to deliver two, three and four-bedroom homes.

Loftus said: “Mark has a clear vision for Honey based on delivering an excellent product for homebuyers that combines style, substance and sustainability.

“He is a highly capable operator, and I am enjoying working with him again to help firmly establish Honey as a recognised and respected housebuilding brand.”