Hill, the UK’s third largest privately owned and family controlled house builder, has secured a £200 million five-year credit facility, which will support its plans to grow joint venture and long-term regeneration work and expand its current land bank. This additional credit will generate revenues of more than £1 billion a year by the end of 2023.

In addition, Hill will also be hiring 20% more staff as it seeks to deliver on its ambitious plans.

“Since founding the company almost 20 years ago, we have made significant strides and are proud to have established ourselves as a major player in the UK housebuilding sector,” said Andy Hill, Chief Executive. “Both 2016 and 2017 were landmark years for our corporate development and this new financing facility gives us headroom to further invest in new opportunities, with a particular focus on joint ventures and regeneration.”

He further added that “To enable us to scale up, we’ll be recruiting an additional 20% more staff this year as we seek to bolster our skills internally and deliver more distinctive, quality homes across London and the South East.”

Last year Hill partnered up with a number of property businesses, including Peabody, delivering together 580 new homes at Fish Island Village in London’s Hackney Wick, and Marshall Group, with whom it will deliver 500 new homes in the heart of Cambridge. Currently, Hill has a total pipeline of 5,200 homes across London and the South East of England. Its annual turnover increased by 20% in 2016 to £367 million.

“This commitment from four major high street lenders is a sign of the confidence that the banks have in our ability to build on our current success and to continue to deliver outstanding results over the next five years,” concluded Andy Hill.