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Housing Growth Partnership have bolstered its Midlands & Wales team with the appointment of James Tudge as the newly recruited Investment Manager. James will be responsible for supporting deal origination, transaction execution and portfolio management in the Midlands and Wales region.

James Tudge’s appointment will support HGP’s recent expansion of their investment ambition through a broadening of parameters and additional funding and marks the latest of number of recent appointments for the Social Impact Investor, which is backed by Lloyds Banking Group and Homes England.

Mike Murphy, Investment Director for HGP in the Midlands & Wales region said “I’m delighted to announce the appointment of James Tudge as Investment Manager for the Midlands & Wales team. With James extensive real estate experience in the region focusing on debt structuring for Private Groups, Social Housing and Housebuilder clients we believe his wide skillset is ideally suited to support the continued growth of the Midlands & Wales region. This is an exciting time for us with a lot of impressive development schemes in the pipeline and we’re looking forward to having James onboard to support the growth of our developer partners.”

James Tudge comments, “My background in banking and finance, having worked across a variety of roles within Lloyds Banking Group for the past 16 years, predominantly specialising in Commercial Real Estate has given me a sound understanding of the Midlands & Wales residential market. This is a very exciting time to be joining HGP following the recent announcement of the fund expansion and I’m really looking forward to working with Mike and the team and to partner with those developers who share our ambition to deliver high quality and affordable homes which provide a positive sustainable addition to local communities.”

If you’re an experienced developer in the Midlands & Wales region, get in touch today.

HGP is pleased to announce an expansion of our investment ambition through a broadening of parameters and additional funding.  The new fund will run in parallel to the new SME fund launched at the end of 2021.

This is being done to allow HGP to play as significant a role as possible in supporting the UK’s diverse and evolving housing needs.  It will take a multi tenure approach whilst significantly extending the scale of what and who they can support.

HGP can now invest up to £30m of equity into any one single project and can commit up to £60m into multi site strategic partnerships with mid market housebuilders and developers.  The extended parameters also create the potential for HGP to support larger opportunities across all the living sectors including  regeneration, later living projects and Build to Rent market.

Last weeks announcement of the £80m joint venture with Kier Group is a great example of extended focus with HGP supporting an established housebuilder deliver on its growth plans across multiple mixed-use regeneration schemes.

Vic Hepburn, Head of Fund and CEO of HGP commented:

‘We are focussed on having a significantly greater impact and increasing the number and type of homes HGP can support.  In less certain times, this is also an opportunity to demonstrate our willingness to support the market through our partnership approach to investment.  Supporting great teams has been key to the fund’s achievements to date and that will continue to be central to our strategy’

Today HGP and Kier Property have announced a joint venture partnership to develop residential sites across the UK. The five-year deal, worth £80m on a 50:50 joint basis, will focus on residential developments on urban brownfield sites, initially across the South East of England.

The joint venture’s objective is to regenerate urban brownfield sites, delivering new homes connected to the needs of local towns and communities. The partnership will acquire sites with or without full planning permission and targets building 2,000 homes for sale and rental by 2027. It also evidences a strategic step-change for both Kier and HGP, with the partnership fulfilling Kier’s ambition to grow in the mixed-use regeneration space, while HGP will broaden its approach through larger transactions and strategic partnerships.

Leigh Thomas, managing director of Kier Property commented: “This partnership sits well with our five-year business plan to expand our offering in the mixed-use regeneration area.  It  will significantly augment our residential regeneration strategy and we have identified a number of sites that we plan to deliver through the partnership, where we can add value through the planning process.”

Rachel Miller, Investment Director at Housing Growth Partnership commented, ‘We are looking forward to working with Kier Property Development in this relationship which will see significant capital deployed to bring forward and develop an additional homes for rent and sale in areas with a shortage of supply. We will focus on urban brownfield sites and Kier share HGP’s ambition to create homes which are positive additions to existing places and communities.’

Vic Hepburn, CEO Housing Growth Partnership commented: ‘The partnership with Kier represents the next step in the expansion of HGP, so we can play as full a role as possible in supporting the UK’s diverse and evolving housing need as part of our commitment to help Britain prosper.

Kier Property is a specialist in investing, developing and managing developments in a range of sectors, building out a number of these through joint ventures.

 

A Birmingham-based developer and publican have saved a historic Digbeth pub from becoming just another memory after revising plans and removing the conversion of it from the initially consented scheme.

The 10M Group in conjunction with social impact investor Housing Growth Partnership (HGP) wanted the Fountain Inn, which neighbours the development of 39 properties, to be retained and its future assured as a historic community pub.

HGP, which is backed by Lloyds Bank and Homes England, is pleased to have invested 1.3m in the build of a brand-new housing scheme and has announced that this development becomes its 100^th investment deal to date.

Situated in Digbeth, the scheme comprises 39 one- and two-bedroom apartments set across two separate buildings, and all based around an attractive communal courtyard and with the pub neighbouring the development.

With a successful track record of building in the West Midlands and the North West, 10M Group’s previous schemes have encompassed a variety of different projects in the residential sector.

Mike Murphy, HGP Investment Director, says: “This development marks a significant milestone for us marking HGP’s 100^th deal and demonstrates that we’re helping developers and  housebuilders to build a range of much-needed properties with unique features. We’re delighted that these apartments will be in one of the most distinctive parts of Birmingham because of its connectivity and nearby amenities and with a historic pub next door, we just know the accommodation will be popular.”

Russell Townsend, MD of 10M Group, says: “As a design-led business we couldn’t have made this exciting scheme become a reality without the investment of HGP and the speed and ease of working together. The pub retention and refurbishment is the icing on the cake, and in addition to using modern methods of construction to make it stand out from other developments, the courtyard will also be a valuable outside space for residents too. We’re looking forward to working together again.”

Steve Price, owner at the Fountain Inn, comments: “I’m delighted that I have such forward-thinking neighbours that are in full support of retaining and preserving historic Birmingham pubs like mine.”

All of the apartments will be ready for occupation in 2023.

 

 

Housing Growth Partnership was named ‘Property Finance Team of the Year’ at the recent 2022 Insider North West Residential Property Awards.
HGP was selected by the panel of judges ahead of shortlisted nominees Close Brothers, Lloyds Bank, Cowgills, Cynergy Bank and Oaknorth. HGP, along with over 800 other property professionals, attended the event at Manchester Central hosted by Matt Baker of the One Show and Blue Peter fame.  The event provided a great opportunity to meet socially with HGP partners and catch up with others from across the industry to celebrate another busy 12 months in the north west residential property sector.

HGP guests on the night included Genesis Homes, Hollins Homes, Mansion House Group, Britannia Group and Hall & Co Property.

John McKeon, HGP Investment Director: “It was great to spend time with our partners in a more social setting and very fitting to share the evening with them given the full role they have played in HGP’s recognition at the event. We look forward to continuing to support their growth and finding new opportunities to fund residential delivery across the region.”

To find out more about the Housing Growth Partnership please send us an email at info@housinggrowth.com

 

 

We are delighted to announce the addition of Mark Chadwick to the HGP Senior Advisor Panel.

Mark has a wealth of experience having operated in the construction and development industry for over 30 years, spanning residential development, main contracting and pure housebuilding.  Mark progressed from being an estimator / quantity surveyor by trade, to Technical Director at Persimmon and then Regional / Managing Director at Jones Homes, Hollinwood Homes and Hollins Homes.  Mark was also a founding Director of Hollins Homes and contributed significantly to the direction and growth of the business.

Ross Baird at HGP said, “It’s great to have someone of Mark’s calibre joining our excellent panel of Senior Advisors who provide such fantastic guidance and support both to us and our partners.  He joins us as we embark on the next stage of our growth journey, targeting delivery of a further 5,000 homes by 2025”.

HGP Senior Advisors are a group of experienced industry experts funded by HGP who are made available to our partners when HGP invests in a scheme, to provide support and guidance as it is required throughout the life of the project.  To date, our Senior Advisors have provided over 650 days of support to our partners.

Find out more about HGP’s Senior Advisors here.

 

As organisations around the world  recognise International Women’s Day today, 8^th March, 2022, social impact investor Housing Growth Partnership (“HGP”) is pleased to have agreed a financial investment with an ambitious female-led property development business based in Edinburgh.

Housing Growth Partnership (HGP) has today announced an investment deal worth £1.5m into the  Whiteburn group. This is a significant investment in the established Scottish developer who are now focusing on design led residential development across Scotland. The  injection, is part of HGP’s newly created £300m property fund for SME developers and will bring much needed new housing to the Kingdom of Fife.

Whiteburn Projects Limited is run by Managing Director Eve McCurrich, currently 50% of the employees are female. Commenting, Ms. McCurrich, who has spent nearly 20 years working in residential development, said: “The investment from HGP has come at a great time and will enable us to progress plans at our Viewforth development in Kirkcaldy, Fife, where construction work is now getting underway.

“The development will be built in the grounds of the former Viewforth High School and will comprise 72 two-, three- and four-bedroom homes as well as 15 affordable properties for local people in need of high quality contemporary accommodation – and importantly a place to call home.”

Ross Baird, Investment Manager of HGP, commented “Eve is an impressive operator, who is very focussed on delivering a high quality product with sustainability and open plan living at its core.  We are delighted to back Eve and the Whiteburn team on this development, and are already exploring further investment opportunities to support their ambitious growth plans”.

On International Women’s Day it is great to be able to acknowledge Eve and the team’s contribution to the sector, and it will hopefully inspire even more to follow in Eve and her colleagues footsteps in the future”.

HGP and Hollins Homes (‘Hollins’) are pleased to announce a partnership under HGP’s recently established Regional Growth Initiative which sees HGP provide a £15m commitment to the housebuilder to support its pipeline delivery.

The RGI is part of HGP’s newly created £300m property fund and the agreement with Hollins sees HGP providing a 4 year equity commitment of £15m to support Hollins deliver residential developments across the North West in addition to helping securing positions on allocated land.

Hollins Homes was established in 2015 as the housebuilding arm of the land promotion company Hollins Strategic Land (established 2007).  Since inception, Hollins has grown into an established, award winning, regional housebuilder operating across the North West.  Hollins pride themselves on delivering highly desirable, well designed and aspirational homes in high quality developments with a focus on enhanced landscape and space.

The company has been recognised for awards in the region including Best NW Residential Developer 2019 and was shortlisted for Small Developer of the Year at the Resi Awards 2021.

Since 2018, HGP has provided Hollins with equity commitments of £6.9m across 5 development schemes, totalling 282 units.  With the implementation of the RGI partnership, Hollins is well placed to meet its target of delivering over 150 units per annum from 2024 onwards

Stephen Goodman, Chief Executive of Hollins Homes, commented  “We are delighted to be extending our relationship with HGP through utilisation of their RGI fund. HGP have long been a trusted partner of Hollins and with this funding package now secured we can proceed with increased confidence in implementing our medium to long term site acquisition and growth plans.”

 

 

 

John McKeon, Investment Director of HGP, commented “HGP has supported Hollins for 4 years and been extremely impressed with the schemes delivered and the quality of the management and operational team. It is with businesses like Hollins in mind, with strong capabilities, an ambition to increase their output and a strong local community focus, that we have developed the Regional Growth Initiative.We look forward to continuing our support of Hollins as they look to deliver on their growth plans over the coming years and we look forward to rolling out the Regional Growth Initiative with further established partners in the region.”

Housing Growth Partnership recently announced that is has now committed to support the delivery of over 5,000 new homes across the UK.  This takes HGP past the halfway point of its ambition to support the delivery of 10,000 new homes across the UK by 2025.

Since HGP’s launch in 2016 the fund has invested over £170m alongside 48 housebuilders on 95 developments with a combined GDV £1.5bn.  Half of these units are already completed and sold to families across the UK.

In 2021 alone, HGP invested £45m alongside 14 different housebuilders on 20 developments to support the delivery of 1,400 new homes across the UK.

In 2022, HGP will continue to support the housing market by providing housebuilders with equity funding to deliver high quality and affordable homes.  HGP recently announced a further £300m commitment which will enable larger residential developments and offer support across all tenures in the living sector.  The new fund will also look to prioritise projects with a greater sustainability focus, as well as those using modern methods of construction to help the sector tackle its sustainability challenges.

Vic Hepburn – CEO and Head of Fund – ‘Sitting behind the numbers is the fact that we are supporting regional housebuilders who really care about the quality of homes they are producing and the communities they create. That’s as pleasing as the numbers and the team will continue to seek out further opportunities to support on the journey to 10,000 homes.’

 

 

 

 

 

 

 

 

 

Housing Growth Partnership has invested £2.2M in the delivery of 48 new homes in Frisby, Leicestershire developed by Bowbridge Homes. The development set in the beautiful Leicestershire countryside will include affordable homes as well as custom build homes.  Bowbridge Homes specialises in bespoke and high attention to detail quality property that people aspire to live in.

Oliver Purday, director of Bowbridge Homes, said: “The scheme is the latest step forward in the growth of Bowbridge Homes and we are delighted that the development – and our on-going growth – is being supported through our continuing partnership with HGP.” Commenting on custom building in general, he added, “this is an evolving area in the UK housing market with a lot of potential”.

Mike Murphy, HGP’s Midlands and Wales investment director, said: “The Housing Growth Partnership (HGP) is delighted to be backing Bowbridge Homes on this exciting new project which includes 8 custom build plots, marking HGP’s first involvement with custom build housing which comes at a time when “Self and Custom Building” is high on the Government’s agenda.

The custom build homes are a first for HGP and are proud to be working and supporting Bowbridge Homes in this exciting development. HGP are keen to support a variety of developments including self and custom build, an exciting part of the market.