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Avant Homes to build £43.85m, 170 new home development in Rosyth

Development

14 Mar 2024

Avant Homes Scotland will deliver 170 new homes in Rosyth with a gross development value of £43.85m after acquiring a 16.5-acre site with planning permission off Admiralty Road.

Called Stewart’s Quarter, the development will comprise a mix of two-, three-, four- and five-bedroom homes.

It will feature 13 of Avant Homes’ practically designed, energy-efficient detached and semi-detached properties. Prices for homes at Stewart’s Quarter will be released at a later date.

The housebuilder will be investing around £27m to deliver the development, supporting local businesses and communities over a five-year period.

Stewart’s Quarter will form part of the Rosyth Garden Village master plan which will see the delivery of a mixed-use development. Once complete, it will comprise up to 390 new homes, retail units, offices, sheltered housing and a care home.

Work has started at Stewart’s Quarter and it is anticipated the first homes will be released for sale towards the end of March. A show home is scheduled to open this September and the first residents are scheduled to move into their new homes in October.

Avant Homes Scotland managing director, Jim Wilkinson, said: “We are very pleased to have been able to acquire what is an excellent residential development site in Rosyth. It is a great place to live which will be enhanced even further by the Rosyth Garden Village master plan.

“Our objective is to build quality new homes for everyone and our mix of practically designed, energy efficient properties at Stewart’s Quarter available at a range of price points will ably demonstrate that.

“We already have many enquiries from people wanting to live at the development and now we have started work it has stimulated further interest. We look forward to releasing the first homes for sale and providing people with the opportunity to make their ideal next move.”

Edinburgh-based Avant Homes Scotland currently has nine live developments. These range from Craigowl Law in Dundee to Draffen Park in Stewarton.

Avant Homes Scotland is part of the Avant Homes Group, whose house types are ideal for the private, rented, and affordable sectors. The company operates across Scotland, the north of England and Midlands from eight regional operating businesses.

At present, Avant Homes Group employs more than 600 people. The housebuilder’s ambition is to develop its multi-tenure business further across its existing regions and beyond, creating communities as well as providing employment opportunities.

Avant Homes Group is also committed to its environmental, social and governance (ESG) responsibilities in line with its vision to construct and sell “quality homes, for everyone”.

The housebuilder’s ESG strategy recognises its obligations to all stakeholders to deliver a sustainable future. Avant Homes’ house types are significantly more energy efficient compared to existing housing stock and appeal to a wide range of customers with different affordability requirements.

Each of Avant Homes’ developments provides a safe place for employees and sub-contractors to work as well supporting its supply chain. The housebuilder creates communities in places where people want to live.

Avant Homes is committed to securing sustainable growth through private for sale, PRS and additional affordable housing.

This better serves customers and communities, particularly where the cost of living has increased and affordability is stretched.

Avant Homes has invested in the internal expertise to develop and deliver strategic relationships with PRS investors as well as affordable housing providers.

The Group recently announced the sale of 306 new homes across eight developments to a leading private rented housing provider, Sigma Capital Group, for over £59.5m.

Four of the developments are in north east England, two in Yorkshire with the balance in the East Midlands. This significant PRS transaction demonstrates the company’s ability to deliver a significant volume of quality new homes to a major PRS investor.

For the year ended 30 June 2023, the Avant Homes Group delivered 1,766 completions.

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