Wavensmere Homes Targets Brownfield Land Acquisitions for 1,500 Homes in 2025

Wavensmere Homes and its associated special purpose vehicles (SPVs) completed 476 houses and apartments during 2024, achieving a record turnover of £105m for its financial year, ending 31st December. Development land in the process of being secured is set to deliver 1,500 new homes.  

The Birmingham-headquartered housebuilder handed over the keys to 96 houses and 380 apartments this year, across its £175m Nightingale Quarter scheme in Derby city centre, the £106m Belgrave Village development in central Birmingham, and at the £130m Barrelman’s Point scheme, which is the redevelopment of HMS Ganges located on the Shotley Peninsula in Suffolk.

The average selling price of Wavensmere’s one- and two-bedroom apartments during 2024 was £201,500, while the price for its two-, three-, four- and five-bedroom family houses averaged out to £360,000.

Established in 2015, the company specialises in urban regeneration, specifically targeting large, complex sites with unique history and character. Wavensmere is defying the unprecedented challenges encountered by the housebuilding industry through the strength of its brownfield landbank and construction deliverability.

James Dickens, Managing Director of Wavensmere Homes, said: “We have exceeded last year’s £100m turnover and could not be more excited about 2025. The brownfield land acquisitions across the South West and West Midlands that are firmly in our sights will deliver another 1,500 homes. We will also be marking our 10th year by breaking ground on four important brownfield sites during the first half of 2025. We obtained detailed planning for this quartet of regeneration projects throughout the course of this year, totalling over 950 houses, apartments and co-living properties.  

“Having delivered 1,000 homes on brownfield land during the past 24 months, we are well positioned to progress with our current growth trajectory and the implementation of our five-year business plan. We support the sentiment of the government’s NPPF announcement, but unforeseen pre-construction delays are still causing setbacks and will frustratingly impact the number of home completions Wavensmere had targeted to deliver during 2025.”

The homes Wavensmere builds are attainable, rather than unaffordable, which continues to resonate with the buying public. The firm has received national recognition for its investment in public open space and new amenities, captivating communities and bringing about the regeneration of the wider area.

Construction work is set to complete at Belgrave Village in central Birmingham during spring 2025. Over a quarter of the 174 houses and 238 apartments were handed over to customers during November 2024 alone. The 12-acre regeneration scheme is being delivered by Wavensmere Homes in partnership with Galliard Homes and Apsley House Capital. This site was previously the Joseph Chamberlain Sixth Form College and Birmingham Sports Centre, which had lain derelict for 20 years.

Only 16 out of 925 homes remain for sale at Nightingale Quarter off London Road in Derby city centre, where the five year build programme will draw to a conclusion in November 2025. The land assembly for Derby’s city living catalyst began five years ago and it remains one of the Midlands’ biggest live residential projects. The Florence Nightingale-designed Derbyshire Royal Infirmary hospital had been vacant for 10 years before Wavensmere Homes set about reanimating the two landmark pepper pot buildings and rare Queen Victoria statue, while creating 125 houses, 800 apartments, and several acres of open space and pathways.

The 58-acre Barrelman’s Point development, located on the Shotley Peninsula, in Ipswich, Suffolk has unique military history. This £130m project is bringing about the restoration and redevelopment of the former HMS Ganges Royal Naval Training Establishment. More than 160,000 Navy recruits passed through the gates, until its closure in June 1976. Alongside the construction of 303 houses and community amenities, Wavensmere Homes is restoring two listed structures, two scheduled ancient monuments, and three further heritage assets.

The firm recently commenced work on site to redevelop Friar Gate Goods Yard in Derby city centre. The nationally significant £75m mixed-use project will reanimate two landmark Grade II listed buildings into over 110,000 sq ft of commercial space, alongside 276 new build homes. The first 63 terraced houses will be available for occupation before the end of 2026. The full redevelopment, restoration and construction programme is anticipated to complete by the end of 2028.

In early 2025, Wavensmere will commence construction at Milford Mills, which overlooks the River Derwent, located between Belper and Duffield in north Derbyshire. The development will comprise 69 new homes occupying the historic brownfield site, which is within the Derwent Valley Mills UNESCO World Heritage Site.

Wavensmere’s £150m redevelopment of Wolverhampton Canalside South will also commence in early 2025. The 17.5-acre former industrial site is located within the city centre – moments from the transport interchange – and benefits from frontage onto the Wyrley & Essington Canal and the Wolverhampton Branch of the Birmingham Main Line Canal. Over 530 high EPC-rated homes (20% designated for affordable housing) seven acres of vibrant green space, and a range of commercial amenities will bring about the transformation of the site, which has lain derelict for 15 years.

Working alongside BBS Capital, Wavensmere is also preparing to break ground on the £55m redevelopment of the North Place surface car park, located within Cheltenham’s Central Conservation Area. Arkle Court will comprise 147 houses and apartments, designed to sensitively enhance the street scene, including Grade II* listed St Margaret’s Terrace.

Wavensmere Homes and Wilson Bowden Developments’ £30m redevelopment of one of the final plots of vacant land within Derby’s newly revitalised Cathedral Quarter will also get underway next year. 195 studio, one- and two-bedroom apartments will be delivered at the Full Street site, within a finely detailed u-shaped nine-storey red brick building.