Knaresborough-based house builder ilke Homes put up for sale

A North Yorkshire-based company which builds modular homes has been put up for sale in what it said was a bid to protect jobs and secure its future.

Knaresborough's ilke Homes said a sale would safeguard its almost 1,000-strong workforce and its "£1bn order book".

The planning system and "volatile" conditions had made house-building and fundraising difficult, it said.

The company produces homes for a range of clients including councils and housing associations.

In a statement, it said: "ilke Homes now requires new investment to meet overheads, achieve further scale and become cash flow positive."

It added that the company was in discussions with about 15 potential investors, though no deal had yet been confirmed.

The company, which was established in 2018, said it produced modular homes which were "zero-carbon in operation" at its 250,000 sq ft (23,226 sq m) factory in Knaresborough.

It said that in partnership with Octopus Energy Group, it had produced the UK's first homes guaranteeing residents would face no energy bills.

The firm said it also offered so-called "turnkey" development schemes, where it acquired land, secured planning consent and then developed the site.

However, ilke Homes said this had been difficult due to rising costs and "issues with the planning system".

An ilke spokesperson said that as a result, the company had been "exploring fundraising options".

"Existing backers are hopeful of securing a future for the business via a sale or investment, to enable it to deliver on its 4,200-home pipeline and protect its workforce," they added.

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