Hill becomes UK’s third biggest private housebuilder after ‘exceptional’ year

Family-run firm saw turnover, profit and net worth rocket in 2016...

Housebuilder Hill has leapfrogged its way to becoming the third biggest private housebuilder in the UK after reporting a “remarkable” year.

According to the latest set of annual results, delivered today, the family-run firm saw net turnover rocket by 21% to hit £367m, from £304m a year earlier, while net worth rose from £73.5m to £99.6m and profits from £30.7m to £37.2m (21%).

Sales volume has now more than doubled since 2012, and the pipeline has grown by an impressive 27% annually to £1.4billion, delivering 3,200 homes. Schemes-in-the-making include the University of Cambridge’s new community in North West Cambridge and a major project in Barton Park, Oxford, which is being delivered in partnership with Oxford City Council and Grosvenor. Further JVs have also been signed with housing associations – including a massive deal with Peabody to develop two sites in East London, at Fish Island Village and Lea Bridge Road, with a combined GDV of £350m.

Andy Hill, Group Chief Executive at Hill: “Our excellent results are testament to the determination and expertise of our growing team. Together we have firmly established ourselves as one of the top 15 housebuilders in the country with a reputation for delivering high-quality, distinctive homes. This year has been truly record-breaking and I am proud of the work we have completed together.

“These successes show we are on track to meeting our ambitious growth strategy for 2020. We are continuing to invest in our staff to ensure that we have the right pipeline of talent and skills needed to deliver a growing volume of high quality homes.

“Our recent high-profile regeneration projects including Fish Island Village and the Stonebridge estate combined with our secured pipeline show we are cementing our position as one of the UK’s largest private housebuilders.”

The firm is aiming to boost the number of homes it completes to over 2,500 per annum by the end of the decade, whilst growing turnover to £850m and profits to £100m. Past projects have included everything from Home Counties mansions, regeneration schemes in East London and conversions in Cambridge city centre, to a set of mews houses in West Kensington.