Devonshire Homes restructures to facilitate growth plans14 March 2019
West Country house builder Devonshire Homes has announced a re-structure of its senior management team to spearhead the firm’s ambitious five-year growth plan.
The independent house builder, which is on target to deliver 181 homes in 2019, is a wholly owned subsidiary of the London and Devonshire Trust (LDT). LDT has confirmed an increase in its investment in the house builder to facilitate the growth ambitions to deliver over 250 homes per annum by 2022.
The Tiverton-based business has appointed former Devonshire Homes’ chairman, Daniel Stephenson, to the role of Chief Executive, with responsibility for managing the day-to-day operation from land purchase through to customer service. Daniel will continue as Managing Director of LDT.
David Heathcoat Amory has been appointed Chairman and Peter Cobb has been appointed Deputy Chairman.
Daniel Stephenson commented:
“Devonshire Homes is focused on delivering a premium product and is proud to be a Devon based business employing 48 full-time staff. The £4million investment by its parent has gone to further strengthen Devonshire’s balance sheet. Its equity is being invested alongside the Housing Growth Partnership and LiveWest to construct 201 units at St Austell and 96 units at Kingsbridge this year. On its own balance sheet, Devonshire Homes has started on its second Bovey Tracey site to deliver 148 units in three phases. This re-structure will enable us to continue delivering successful projects that satisfy our customers, partners and key stakeholders.”
The £21million turnover firm, which celebrated its 25th anniversary in 2017, is further strengthening its team and has announced two promotions across the business: Nigel Bowditch as Head of Procurement and Ian Palfrey as Head of Land and Planning.
Daniel continued: “Devonshire Homes is at an exciting time in our development and the group re-structure will accelerate our growth as a South West focused house builder delivering well designed homes. This is an opportunity to acknowledge the talent in our team and promote key members to take on more responsibility as well as introducing new talent into the business. We look forward to the future with excitement and optimism as a consequence of these appointments and the group restructure.”
Independent house builder, Devonshire Homes has been creating new homes and communities in towns and rural areas across the West Country since 1992. Working with joint venture partners including Housing Growth Partnership and LiveWest, Devonshire Homes is currently selling homes in four locations across Devon; Bovey Tracey; Chulmleigh, Landkey and Crediton. In addition, construction has started on a new development in St Austell, and construction on a new site in Bovey Tracey is due to start later this year.