HGP and Hollins Homes announce new £15m partnership under the Regional Growth Initiative
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.”