Case Study Region: The North West & Northern Ireland

McGoff Group, Manchester

HGP has formed a JV with McGoff Group (“McGoff”) committing £13m to deliver the new Downtown Victoria North build-to-rent scheme in Manchester.

The development is situated on a former gasworks on Rochdale Road and represents a key element of the wider Victoria North regeneration programme. Construction work has now started and is scheduled to complete in late 2025.

The development of one, two and three-bedroom apartments and townhouses is situated a 10-minute walk from the centre of Manchester and will provide tenants with a high-quality living experience.

The completed site will feature extensive landscaping, including a communal garden courtyard with seating areas, pocket square and private gardens. It will also offer a reception with spacious seating area and business centre, a 24/7 concierge service, a residents’ lounge, fully equipped gym, underground car parking and bicycle storage.

Mansion House Group, Sandbach

HGP has invested £1.0m alongside Mansion House Group (‘MHG’) to deliver 12 new homes in the historic market town of Sandbach, Cheshire.  The investment will help create an exclusive development of high quality 4 and 5 bedroom family homes.

This represents HGP’s first project with MHG, an experienced multi-disciplined property developer based in Altrincham.

John McKeon of HGP commented ‘We are pleased to make our first investment with Richard and the team at Mansion House on this attractive site in Sandbach.  Mansion House are an experienced operator with ambitions of growing their residential output over the coming years and we look forward to supporting them on that journey’.

Genesis Homes, Stainburn

HGP has invested £1.7m alongside Genesis Homes to deliver 82 new homes, including 4 affordable, in the desirable village of Stainburn, Cumbria. The investment will unlock an exclusive development which will provide a mix of 2, 3 and 4 bed high quality family homes.  More information on the development is available on the Genesis website.

This is HGP’s sixth investment with Genesis as we continue to support the management team’s ambitions to become a significant regional housebuilder. By partnering with HGP, Genesis is able to efficiently deploy its capital; reducing the amount of equity it has to commit to the Stainburn development and releasing funds to accelerate other schemes in the company’s pipeline.

Oakmere Homes, Ulverston

HGP has invested £1.5m alongside Oakmere Homes to deliver 42 new homes in Ulverston, Cumbria, as the first 2 phases of a 101 unit scheme.  The investment will help create a desirable development which will provide a mix of 2, 3, and 4 bed high quality family homes.  More information on the development is available on the Oakmere Homes website: http://www.oakmerehomes.co.uk/.

Oakmere Homes is a well-established and experienced housebuilder, bringing forward high quality schemes throughout the region and HGP is delighted to be supporting them on their Ulverston development.

HGP’s investment assists Oakmere in achieving their growth ambitions allowing the company to efficiently deploy its capital; reducing the amount of equity it has to commit to the Ulverston development and releasing funds to accelerate other schemes in the company’s pipeline.

Russell Armer Homes, Kirkby Lonsdale

Housing Growth Partnership (‘HGP’) has invested alongside Russell Armer Homes in phase two of their 79 unit development in Kirkby Lonsdale, South Cumbria.   This scheme is being developed under the well-established Russell Armer brand, following Genesis Homes’s recent acquisition of the company.   Phase 2 of the scheme comprises 28 two, three and four bedroom homes, in a spectacular setting nestled between the Yorkshire Dales and the Lake District.

Residents will benefit from easy access to the nearby motorway network, excellent local schools, as well as becoming part of a vibrant local community, recognised as being amongst the Sunday Times top 5 best places to live (North West) in 2019 and 2020.

John McKeon, HGP Investment Director: “Russell Armer is a long standing name in the region, with a strong reputation for build quality and customer care, and we are delighted to be able to continue our support of Genesis Homes as it expands its operational platform through the acquisition of Russell Armer.  Kirkby Lonsdale is an extremely popular location which is borne out by the demand for this site and we are confident that the quality and design of the homes will make this another successful development for Genesis Homes.”

Nicky Gordon, Managing Director of Genesis Homes: “We are delighted to have both completed the acquisition of Russell Armer Homes and in doing so been provided with this tremendous opportunity to conclude the development of the hugely successful Oakfield Park development in Kirkby Lonsdale. It was the natural choice to engage HGP and continue our journey together with opportunities in both the Genesis and Russell Armer businesses.”

For more information on Genesis Homes and Russell Armer Homes, please visit their website.

Hollins Homes, Newton with Scales

HGP has co-invested with Hollins Homes in a development in Newton with Scales, near Preston, to provide 50 homes, including 15 affordable units.  The project will transform a greenfield site into a mix of 2, 3, 4 and 5 bed luxury family homes.

Hollins Homes are seeking to establish a stable funding structure to support multiple schemes and accelerate growth.  HGP’s investment reduces Hollins’ capital commitment in the Newton with Scales site, enabling equity to be efficiently redeployed into other developments.

If you’re involved in housebuilding or development we’d love to speak to you, please send us an email at info@housinggrowth.com to get in touch.

Hillcrest Homes, Hurst Green

HGP has invested £1.4m alongside Hillcrest Homes to deliver 31 new homes in Hurst Green, Lancashire. HGP’s investment has enabled Hillcrest to efficiently deploy its capital; reducing the amount of equity Hillcrest has had to commit on the Hurst Green development and releasing funds to accelerate other schemes in the company’s pipeline.

HGP’s return is derived from an equitable share of the scheme profit. HGP does not charge any fees or interest, nor does it take any security. By partnering with HGP, the Hillcrest team is accelerating growth in their business, increasing the delivery of high quality family homes, and improving their return on capital.

If you’re involved in housebuilding or development we’d love to speak to you, please send us an email at info@housinggrowth.com to get in touch.

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