Another great year for Hill Partnerships!

Turnover increased by 18% to £304m in 2015, while the housebuilder’s net worth increased to £74m from £51m.

Hill built over 1,500 new homes during the year across London and the South East, with an average sale price of £470,000. The housebuilder has grown its pipeline to over 2,600 homes, which will see sales revenue of £1.1bn. The expanded pipeline follows the extension of a £150 million revolving credit facility with a number of major lenders at the end of last year.

Andy Hill, chief executive at Hill, said: “It’s been another phenomenal year of growth for us. We’re now recognised as a major player with a track record of success in producing distinctive, high quality homes, and we have a growing reputation as the partner of choice for joint venture projects.

“It is no secret that the country is facing a housing shortage, but the growth that we have seen is more than a simple demand and supply equation. We have been able to successfully build homes which are exactly what the local market is looking for, whether it’s Help to Buy starter homes or luxury apartments for downsizers. Almost half of our completed projects were outside of London and both Cambridge and Oxford are growing markets for us.

“It is a testament to the hard work of all of our staff that we have been able to achieve these results. Across the business there is a real sense of momentum as we look towards 2020 and implementing our new five year strategy for growth, which will see a significant increase in capacity through recruitment to meet our growing pipeline.”

Alongside its annual results Hill also unveiled a new five year strategy for growth, which will see the firm increase the number of homes it completes each year to in excess of 2,500. The housebuilder has also set a target to grow turnover to £850m and profits to £90m by 2020.

Hill is also planning to increase its number of employees to in excess of 500 in the next two years in order to fulfil its growth plans.