Home Commercial Property HJ Collection increases GDV by £13 Million following acquisition of three new sites

HJ Collection increases GDV by £13 Million following acquisition of three new sites

by LLP Reporter
11th Jul 23 3:09 pm

Fast-growing property developer, HJ Collection, has increased its GDV by an impressive £13 million following the acquisition of three new sites located in Ipswich, Lowestoft, and Bracknell.

Established in 2019 with a clear vision to help the UK overcome its housing crisis by acquiring unloved commercial sites and repurposing them into residential developments, HJ Collection has since evolved into reputable and dependable property developer with a proven track record of success.

Located in Bracknell town centre, the first of the three newly acquired commercial buildings will comprise of 20 residential units on completion – including 11 one-bedroom apartments, 8 two-bedroom apartments and 1 three-bedroom apartment.

Similarly, the ex-Tesco site in Ipswich is located close to the town centre and local amenities, where the soon-to-be developed 18 affordable residential units will provide an ideal investment opportunity for Landlords and first-time-buyers alike.

A large 15,000 SQ FT building spanning 3 floors, the newly acquired development in Lowestoft will offer 23 residential and 5 new commercial units – providing members of the local community with modern and affordable accommodation, while helping to boost the town’s economy.

Combined, all three buildings were acquired for £2.47 million with the development project forecast to be completed within the next 12 – 18-month period.

As such, the HJ Collection portfolio now comprises of over 15 sites and a total GDV of £80+ million.

Reece Mennie, Founder and CEO of HJ Collection confirmed: “Over the last four years, the HJ Collection team have worked hard to research and acquire commercial sites situated in desirable locations with clear build potential, resulting in the development of over 650 residential units to date. These latest three acquisitions are certainly no different, with Bracknell, Ipswich and Lowestoft all undergoing some form of regeneration to boost investment within the local areas.

As such, we are in no doubt the buildings will be in high demand once completed and are excited to report that our development team has already started work on strip outs, with the first residential units due to be ready early 2024.”

With plans to acquire over 10 additional sites by the close of 2023, HJ Collection is currently targeting over 40% growth by the close of 2023, which will accelerate its GDV to in excess of £100 million.

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