Four new acquisitions for 'revolutionary' property developer

A property developer which describes itself as 'revolutionary' has increased its portfolio through the acquisition of four new sites located in Ipswich, Lowestoft, Stafford and Hanley.

Launching originally in 2019, HJ Collection has since established a reputation for sourcing and developing 'well-researched and highly lucrative property investment opportunities'. These, it says, deliver above-average returns to its investors.

The first of the four new sites, located in Ipswich city centre, will see the firm convert a commercial building into 18 residential units through Permitted Development Rights.

The units will be made up of both one and two-bedroom apartments and is forecast to be completed within a 15-month timeframe. It will aim to offer an attractive onward investment opportunity for landlords or first-time buyers.

In a similar vein, the HJ Collection site in Hanley is also expected to be developed within a 15-month timeframe and will offer 25 residential units on completion.

The third acquisition under the HJ Collection portfolio is a commercial building located in Lowestoft. With planning already existing to convert it into 22 residential units and five retail units, this site already boasts strong rental and/or repurchase demand.

Lastly, the fourth site - situated in Stafford - already plays host to multiple long-term commercial tenants on the ground floor, with the first and second floors due to be transformed into 12 residential units overall. It's on track to be completed within a short 12-month timeframe and will, once complete, aim to offer affordable and attractive city centre accommodation.

All four sites combined are set to deliver a GDV of more than £10 million, adding to HJ Collection’s growing portfolio.

Reece Mennie, founder and CEO of HJ Collection, said of the latest acquisitions: “The HJ Collection team and I work incredibly hard to thoroughly research all potential acquisitions to ensure we can not only add value when developing out a new site, but that we can also deliver above average returns to our investors.

"With extensive experience in leveraging Permitted Development Rights, we are confident that we will be able to develop out all four sites within the forecast 12 – 15-month timeframe, providing quality living accommodation for both rent and purchase in vibrant city centre locations.”

The expansion of the HJ Collection portfolio comes as it announces the repayment of over £7 million to its growing network of sophisticated and high-net-worth investors.

HJ Collection now has 15 sites under its portfolio and, to date, has acquired and set out to build over 650 units in strategic locations across the UK, comprising a GDV of over £76 million.