Luxury housebuilder Elivia doubles turnover but remains in the red

Luxury housebuilder Elivia Homes has more than doubled its turnover but remains in the red following an increase in interest charges.

The housebuilder, which is owned by funds advised by fund manager Octopus Investment and operates primarily in the South-east of England, reported turnover of £116.1m for the year to 30 June 2025, up 127% on the £51.5m reported for the previous year.

The group’s completions increased from 117 to 211 and its asking price rose from £438,000 to £548,000.

But its pre-tax loss widened from £10.2m to £12.4m, while its operating loss reduced from £6.7m to £5.7m.

Elivia, which was formed through the 2022 merger of High Wycombe-based Vanderbilt Homes and Southampton housebuilder Crayfern Homes, refinanced in the year.

It repaid a £75m revolving credit facility with Fern Healthcare Holdings a holding company for funds advised by Octopus and took out a new £100m facility with Barclays/Netwest. Elivia’s interest charges for the year rose by £3.3m.

Elivia is targeting increasing delivery to more than 500 homes over the next three to five years. In November, it announced the launch of a strategic land division, which it said is to unlock the value of its landbank of 70 sites.

The firm acquired Reside Strategic Developments in December, which it said has provider promotion agreements for 10 new sites with a gross development value of £363m. Elivia bought luxury builder Milwood Designer Homes from housing association Places for People in 2023.