Fast-growing nationwide property developer, HJ Collection, has expanded its portfolio with the acquisition of a 19,655 sq ft commercial site in Weybridge, Surrey.
Located just a 15-minute walk from Weybridge main line railway station and within easy access of London, this commercial development was originally built in 1989 and has since been used for office space.
Having acquired the site for £3.5 Million, HJ Collection now boasts strategic plans to leverage permitted development rights to transform the space into 26 residential dwellings, comprising of 5x studios, 14x one-bedroom apartments of 7x two-bedroom apartments.
With development already underway, HJ Collection have forecast a total build cost of £4.3 million, which – once complete – will culminate in an impressive GDV of £9.8 million.
The 16th site to have been acquired by the reputable developer, HJ Collection has successfully built over 650 residential units in strategic locations across the UK over the last 5 years and is now on track to double its GDV by the close of 2024 to £200 million.
Reece Mennie, Founder and CEO of HJ Collection, confirmed: “Over the last 5 years, the HJ Collection team and I have worked incredibly hard to source, acquire and transform previously unloved commercial sites into high quality residential dwellings in tier 2 and 3 towns and cities across the UK – providing modern and affordable apartments for both rent and sale, while helping to ease the housing crisis.
Although our first acquisition in Surrey, we plan for the Weybridge site to be the first of many throughout the county and are already excited about the progress made in the short few weeks since we completed the acquisition.”
Established in 2019, HJ Collection is fast becoming a reputable property developer, having been awarded ‘Developer of the Year’ at the National Landlord Investment Show Awards 2023.
On track to complete 5 additional sites and add multiple new sites to the project pipeline by the close of 2024, HJ Collection is forecast to accelerate revenue by a further 30% within the next 12 months alone.
