Housing Growth Partnership supports Hollins Homes to deliver more homes in Lancashire
Social impact investor Housing Growth Partnership (HGP) is pleased to announce that it has recently provided equity funding of more than £1.5m to Manchester-based housebuilder Hollins Homes.
The funding will support the development of a new site in Loveclough, Lancashire, comprising 80 detached and semi-detached homes, with stunning views overlooking the Rossendale Valley.
John McKeon, HGP investment director, commented: “Hollins are a well-established housebuilder with a reputation for building high quality family homes in desirable locations across the North West, and we are confident that this latest development will prove to be extremely popular in the local market.
“After working together on previous schemes, HGP has forged an excellent working relationship with the Hollins team and we are delighted to be investing into a further development with them at Loveclough.
“With Hollins Homes’ desire to grow the business further, HGP’s investment in Loveclough will enable the company to more-efficiently deploy their own capital to further support the company’s growth aspirations.”
The development will deliver a mix of 2, 3, 4 and 5 bedroom properties, all within an attractive countryside setting, with various purchasing options from open market sale to shared ownership and social rent. Homebuyers will also be able to benefit from the new Government-backed mortgage guarantee scheme, allowing first-time and current homeowners to obtain a 95% mortgage from lenders.
Mike Cummings, finance director for Hollins Homes, believes that the development represents an exciting stepping stone in the growth and development of the company. He says: “HGP have proved to be a great support to us every step of the way and we’re looking forward to working closely together again to bring this development to market and importantly, satisfying the housing needs of so many local people.”