Developer Aitch Group reports an exceptional year in 2022 with £20 million in residential unit sales and £80 million worth of site sales across their London portfolio.

The company plans more growth in the student accommodation, Build-to-Rent, and retirement living sectors, as well as continuing to develop its commercial and construction arms.

Aitch Group's pipeline now contains approximately 2,200 residential units, 2,400 Beds of Student accommodation, 30 Retirement living apartments and 60,000 sq. of industrial space. 

The completed residential developments have all sold out including the flagship later-living scheme Hollyoak House in Loughton providing 29 one and two-bedroom apartments named after Aitch Group Land Director Stephen Hollyoak. Their latest successful London development was Park Place (image) in Finchley where all 41 apartments were sold out in 2022.

Aitch Group is planning to invest up to £100 million in land acquisitions across London and the South East of England, eyeing further growth in student accommodation, BTR and Retirement Living sectors of the property market to come into fruition in 2023 and beyond, with the planning team submitting 225 residential units this year. 

A total of 75,5000 sq ft of commercial units resulting in £1.55 million worth of lettings were completed in 2022 and the planning team have submitted 6,000 sq ft of commercial floorspace for upcoming projects.

The latest development comes from the joint venture partnership of Aitch Group and privately owned property investment and development company VFund. Plans to restore and transform the Grade I Listed former St Michael & All Angels Church in Shoreditch will see it transformed into a unique, two-building, retail and work campus offering forward thinkers a home at the centre of London’s creative quarter – Vetus + Novum.

Jon Cuthbert Director at commercial agency Strettons commented: “Aitch Group’s success this year, despite the challenging market conditions, particularly in the office sector, has been due to them offering a superior product in the marketplace, as well as adapting to tenants everchanging requirements. To compete with the growing list of Serviced Office and Managed Workspace providers Aitch Group have continued to upgrade their product to provide fully fitted spaces, as well as offering flexibility within lease terms. Aitch Group have a strong commercial presence in The City Fringe & East London and have invested further into these areas over the last twelve months. Sub-markets such as Hackney Wick, where Aitch Group have a large holding, have remained resilient to the challenges of the last few years and we have seen this market, in particular, continue to perform well. I expect that Aitch Group will continue to spot investment opportunities within these markets and I am confident that the next twelve months will prove to be fruitful”. 

Looking forward, over £56 million worth of contract work has been instructed with two schemes on site and progressing well - 313-349 lderton Road and Old Kent Road.

Seven schemes have progressed to construction-level design, Byron Street, Canterbury Road, Leonard St Church, Cape House, Mayday Road, Avonmouth house and Micawber Street.

The post-completion care program has also developed with the future occupant’s experience and comfort being an essential consideration for the company. Six schemes have been managed through to the end of the defect liability period - Ballard’s Lane, Sheep Lane, Corbridge Crescent, Loughton High Road, Chobham and Mare Street.

A new construction department, WTP Construction, has been created in order to further the development arm of the business. In 2022 the WTP Construction team successfully submitted tenders for two schemes on the open market whilst supporting the needs of the group development plan.

Aitch Group is now actively seeking new land opportunities without planning permission across London and the South East and encourages new introductions to help grow their development pipeline.    

In the residential sector, Aitch Group will look at sites with land values of up to £30 million and within price points between £500 to £950 per square foot. In the Student Accommodation sector, Aitch Group is seeking sites that can provide over 250 student beds.

Henry Smith, CEO at Aitch Group commented: “At Aitch Group we have seen an excellent year despite the challenges faced by the property market. We remain confident in our choice of locations, as seen by the success of our commercial units, and the quality of our product, as seen by the sell-out success across many of our residential developments. We intend to develop on the excellent growth we have seen this year. As a team we are closer than ever and are looking forward to another fantastic year in 2023 full of new projects and exciting challenges.”

Contact Aitch Group to find out more about their plans for 2023.