Joint ventures pay off for Hill

Joint ventures pay off for Hill

Following Hill’s investment in joint ventures, the company has grown to become the UK’s third largest privately owned housebuilder.

The figures show that Hill has increased turnover to £416m while profits have risen by 27% to £47.2m. The business has also seen growth in the value of its pipeline of new private homes to £1.6bn.

A large part of Hill’s success in 2017 was driven by the company’s investment in joint ventures. Working with housing associations and local authorities in London and the Home Counties, these partnerships have enabled delivery of high quality homes at speed, leveraging Hill’s knowledge and expertise to deliver at pace and scale. 

Andy Hill, Chief Executive at Hill, commented: “Over the last five years we have seen significant growth and have firmly cemented our position as the third largest privately owned housebuilder in the country. Our plans going forward are equally ambitious. We remain incredibly focused on playing our part to deliver more homes to more people and the growth in our pipeline demonstrates our commitment to this challenge.

“The past year has seen us work more closely with local government and we believe this will enable us to achieve further outstanding growth in the coming years. We’re finding that many local authorities are keen to better utilise local land but require our in-house resource and expertise to deliver at scale and speed. We’re able to act as a trusted delivery partner and extension of their team, ensuring that they are able to make best use of their assets and deliver on local needs.

“Our priority for the next year is to continue on our upward trajectory, undertaking larger joint venture projects with a key focus on estate regeneration and community creation.” 

Hill’s 2020 strategy will see the business increase the number of homes it completes to in excess of 2,500 per annum by the end of the decade. The housebuilder also intends to grow turnover to £850m with profits approaching £100m.

Pictured above is Andy Hill, Chief Executive of Hill.

Related posts