We speak with Bill Beyzade, managing director of Durkan Homes and hear how Durkan Homes builds homes with big personalities, that are aspirational in design and location…
Bill, tell us a bit about your role as managing director of Durkan Homes.
I’m responsible for growing the business operationally and overseeing everything we do – in terms of process, procedure, and my team, which supports our overall strategy and vision.
The Durkan Homes business is still relatively young. It was launched just four years ago and builds on Durkan’s 50+ years’ experience in development, construction and refurbishment sectors. I’ve been involved since day one and, with the support of my team, have taken the business from start up to an established regional housebuilder, creating bespoke, sustainable homes of exceptional design and quality in London and the Northern Home Counties.
Durkan is a family-owned business, how does this affect the ethos and culture of the company?
I think we can honestly say that we do things differently. Being a family-owned, regional housebuilder affords us the flexibility, and autonomy to take a long-term view on delivery and make positive decisions centred on quality and integrity, rather than chasing volume. It also means that we’re able to pursue a mixed portfolio and consider opportunities that others might not. Each new community we create is unique – from its location to the architectural vision, home layouts, materials, and interiors.
The team here is incredibly passionate and committed and that’s reflected in the way we work. We’re 38 people strong now and there’s a great team culture of support and respect. There’s no disconnect between our senior management team and what’s happening on the ground. We’re involved in decision making at every stage, from establishing the initial vision, to acquiring land, designing homes, creating supply chains and defining how we sell and engage with buyers.
From start to finish, it’s a team approach. Everyone feels valued – from our own staff, to our subcontractors, local stakeholders, agents, and customers. We’re really proud to have HBF 5 Star Housebuilder status – it’s a reflection of the fact that we care and are committed to doing things right.
Your aim is ‘to build homes for all sectors of the housing market in London and the home counties.’ Are there particular pockets that are out-performing others at the moment?
The locations we build in are in the main aspirational. Making sure our homes and communities are bespoke, well-connected and support well-being is central to our approach – whether that’s in central London or in more rural locations in the home counties.
The commuter belt remains attractive, especially as some buyers look for more space and affordability within easy reach of London. But our central London developments at the upper end of the market also remain incredibly popular and are selling well to owner occupiers who are returning to pre lockdown patterns of life.
That variety, and aspirational approach to land buying, is really key. Both directly, and through a range of partnerships, we’re able to hold true to our commitment to build for all sectors of the housing market – whether that’s homes for sale on the private market, working with institutional investors, delivering build to rent opportunities, or supporting registered providers in bringing forward more affordable homes. This approach has always been in our DNA and is key to the longevity of the business.
What would you say are the top three reasons to buy a new home in 2023?
New homes right now are a great option for anyone looking to get a foot on the housing ladder, upsize or downsize. One of the biggest challenges facing buyers is not necessarily the monthly mortgage payments – which are often less than what they are paying in rent – but the level of deposit they need to get together. Deposit Unlock is a scheme that’s gained in popularity this year, allowing buyers to buy a new build home with just a 5% deposit, borrowing the remaining 95 per cent directly from the bank.
There are also some fantastic incentives that have come forward this year from housebuilders, including deposit contributions and help with monthly mortgage payments. It’s a good time to take advantage of those, as well as other support like assisted move.
There are also ongoing running costs to consider. Energy prices show no sign of easing and new builds offer real advantages here too as they’re better insulated and cheaper to run than older properties with all new build homes coming with a warranty which you don’t get with an existing home.
New build homes also have to comply with the latest building regulations. This means they are far more energy efficient than older properties. Data from Energy Performance Certificates shows over 80% of new homes have the highest A or B ratings. That compares to just 2.2% of existing properties. With better EPC ratings, it opens up the option of green mortgages which could offer a cheaper rate.
As a smaller regional housebuilder, we are really continuing to push the boundaries in terms of exterior and interior layouts and design with homes designed for modern living. There are some exciting products on the market and the variety this year is fantastic – our four live sites are a great example of that.
Tell us about the schemes you’re marketing now and launching in the coming months.
We currently have four live schemes – Granary & Chapel, Hertford; Hatfield East, Hatfield; Manor & Braganza, London and Wintringham in St Neots.
They’re all incredibly exciting and varied. Granary & Chapel, for example, is a boutique development of modern, urban style one- and two-bedroom apartments and three- and four-bedroom houses that really reflect Hertford’s industrial and Victorian heritage. The interiors are light and spacious with generous floor to ceiling heights, high-specification kitchens and bathrooms, and open plan layouts that lend themselves to modern life.
Meanwhile, our Manor & Braganza scheme in Southwark offers something completely different. It’s set on a quiet corner in SE17, but has a really big personality. We’ve drawn on the history of neighbouring Pasley Park, formerly home to the Royal Surrey Zoological Gardens, to create a really bold and eye-catching illustration-led brand. Here we’re offering one-, two- and three-bedroom apartments and duplexes, and two and three bed townhouses in a really quiet residential area but with London’s most diverse and vibrant new cultural quarters on the doorstep.
The old building at Manor was a big presence in this quiet neighbourhood, with an aesthetic charm that is the signature of South London.
Under the skin, the building was unsuitable for conversion and renovation, so we have carefully reconstructed the historic facade, with an entirely new building inside, creating a collection of contemporary apartments without compromising on space and layout. To further preserve the heritage of the area, we have also reinstated the ground floor retail to benefit the whole community.
Our homes at Wintringham offer something for every type of buyer. They have an excellent location at the gateway to Wintringham which is a new Urban & Civic community on the edge of St Neots. There’s a mix of contemporary one- and two-bedroom apartments and two-, three- and four-bedroom family homes, so there really is something for everyone here. The whole scheme is centred on connectivity and well-being. It’s surrounded by green space, and a network of walkways and cycle paths but it’s also just a stone’s throw from St Neots station giving easy access to central London,
And then there’s Hatfield East that we’ve named the new kid on the block. There’s a younger, vibrant feel to this development, which is made up of modern collection of eighty-seven one and two bedroom apartments and two-, three- and four-bedroom homes, just a short stroll from Hatfield’s bustling town centre.
There’s lot more coming through too – not least our joint venture with Latimer by Clarion Housing Group to provide 160 new homes at University of Cambridge’s Eddington site and our latest venture in Bengeo, Hertford which is the second phase of our award winning ‘The Stiles’ scheme that was completed last year.
It’s impossible to compare these schemes because they are all so different. The bespoke approach and the attention to detail with the level of quality on offer is what really sets us apart.
Are you offering any particularly enticing incentives to home buyers at the moment?
We always have a range of incentives in place – but each site is different and the incentives we offer are tailored to our individual purchasers needs. We’re contributing to mortgage payments – for example at Hatfield East our current home of the week offer allows buyers to unlock £1,000 every month towards their mortgage for an entire year.
We offer assistance with deposit or Stamp Duty contributions which we know are common barriers for a number of would-be purchasers and are utilising the Deposit Unlock scheme across our projects. Our assisted move scheme is also very popular, helping buyers to sell their homes and offering furniture packages for apartments and first-time buyers who need a helping hand to get their new homes prepared for living in.
How much commitment does Durkan invest in the community-aspect of the areas you’re building in?
Commitment to local communities is absolutely at the heart of everything we do. This isn’t about token gestures for us. For the size of our business, we’re providing significant amounts of time and funding that are making a genuine difference to the communities in which we’re building.
This year we launched our Community Fund. It provides targeted support for organisations and charities, helping them deliver valued community projects, events, and services. In just a short time, it’s already having a huge impact with funding going to initiatives including community gardens, a food pantry and support for local schools.
Of course, it’s not just about the funding – our team regularly gives up their time and skills for free. Whether it’s building a forest school for local children, giving skills talks and providing work experience opportunities, or donating materials to worthy causes. We like to find out about what a local community really needs and put our time and energy to good use. To really embed yourself in a local community, you need to get out there and get involved.
Are you sensing much nervousness about the mortgage market and higher interest rates among buyers?
Yes, of course, there’s an element of nervousness among some buyers, however we are seeing some positive signs too. Mortgage rates don’t appear to be following interest rates as closely as first thought, and the recent pause in interest rate rises is welcome by all and a good start for the future.
There are many potential buyers waiting in the wings before they commit and this is a positive, but with the macro environment not in a stable state at present this will always leave people hesitant to commit to the biggest purchase of their lives.
The reality is that many people are paying out a huge amount on rent, when a mortgage could offer them lower monthly payments and the opportunity to invest in their future. Raising a deposit doesn’t need to be a stumbling block – as I mentioned earlier, both banks and housebuilders are offering schemes that can help.
Are there any exciting new interior or exterior trends you’re seeing coming through that are appealing to potential buyers?
There are a lot of interesting new trends coming through. Both in terms of external and internal layouts, there’s a real focus on well-being and sustainability. Good connectivity and easy access to nature and open space is important, as is an open-plan, light, and airy layout internally. The focus is on making buyers feel good and feel connected to where they live. The network of cycle paths and walkways at Wintringham, St Neots is a great example of this.
We’re seeing changes to layouts too – working from home space is no longer a nice to have, it’s a must have, but buyers don’t necessarily want a traditional study. Dedicated work areas within wider living spaces work well and can maximise natural light and easy access to the outdoors – again, it’s all about a sense of work-life balance and feeling good.
As a family-owned business, we can really embrace and, in fact, set these trends. We’re not constrained by a cookie-cutter approach – every development we’re involved in is built and designed in a way that really reflects the history, heritage, and current feel of the local community and the way we anticipate people live their lives now and in the future. And sustainability remains key too – buyers want to see that they can have quality, sustainable products in their home at a reasonable price point.
And finally, what would be your top tip for a first-time-buyer looking to buy in the current climate?
Do your homework – look at the different schemes and incentives available and think carefully about the developer you’re buying from and the level of quality and value they offer. Don’t just default to the national housebuilders!
Think about where you’re buying – not just what you’re buying. It’s important to feel connected to the community and space around you.
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