A London-based property development and investment firm is on track to unveil a new commercial and residential development in Barnsley, South Yorkshire.
HJ Collection aims to revolutionise the asset-backed loan note market and diversify risk by creating a managed property bond portfolio, made up of multiple developers and multiple projects in strategic locations across the UK.
‘Yorkshire House’, situated on a busy high street within a short walk of Barnsley train station, will once complete be made up of 19 modern one-bedroom apartments, finished to a high standard.
Described as being ‘ideal for busy professionals’, the newly refurbished building is also set to provide four newly renovated retail units, offering an ideal location for either large retail chains or independent stores looking to build a presence within Barnsley town centre.
Set to be completed by January 2021, the new ‘Yorkshire House’ development comes at an exciting time for the region, HJ Collection claims. This follows a period of consistent renovation and regeneration in the town, including the launch of the new Barnsley Interchange, the Digital Media Centre and Gateway Plaza at Town End.
Yorkshire House is set to be the first in a series of new HJ Collection developments, followed by a 112-apartment site in St Helens, Merseyside, along with a 14-apartment site in Doncaster.
The firm says all developments offer ‘the potential for both Build to Rent and buy-to-let’, with individuals who have invested into the initial HJ Collection property bond set to receive a fixed return of 24% over a two-year period.
Reece Mennie, the founder and chief executive of HJ Collection, said: “HJ Collection has been created to revolutionise the asset-backed loan note market by diversifying risk and developing attractive residential sites in strategic locations across the UK.”
He added: “All developments are located in or close to town centres, where there is a strong letting demand to underpin the development value, even during these uncertain and unprecedented times.”
The HJ Collection sites in Barnsley, St Helens and Doncaster are all being developed in partnership with property development firm, Empire Property Concepts, known for its creation of innovative living spaces in northern regions of the UK.
“I have worked with Empire Property Concepts for a number of years and am always impressed by their capability to complete development projects on time and within budget, whilst maintaining high standards of refurbishment throughout,” Mennie continued.
“Any work currently on hold due to the continued spread of Covid-19 will not impact the completion of the initial HJ Collection sites, or the promised return to our investors. We are also working hard to ensure the pandemic does not impact our wider growth and have clear plans to continue to invest in the development of additional sites in strategic regions of the country, with more information to be announced in the coming weeks.”