A property development and investment company based in Grimsby has purchased a new head office, creating new jobs in the process.
Galaxy of Homes, which invests in properties in the North East, bought the new head office using a £95,000 Commercial Mortgage from HSBC UK.
It aims to recruit a further 15 staff in the next 12 months to support its business expansion. The business has already spent £33.6 million refurbishing 420 homes in Grimsby since 2016, creating around 14 jobs for the local community including a range of administration and telecaller roles.
Galaxy of Homes refurbishes derelict and unwanted homes to create investment opportunities for landlords. It is run by directors Vikash and Madhurita.
The business includes a refurbishment division, Galaxy Makeovers, and a property management division, Galaxy Letts. The new hub is 6,500 sq ft and provides more space for each division, as well as room to grow as it increases its lettings management portfolio.
This deal is part of HSBC UK’s £500 million lending fund to support small and medium-sized enterprises (SMEs) in the East Midlands.
Director of Galaxy of Homes Vikash Jayaswal said: “We set up Galaxy of Homes to improve access to safe and secure accommodation in the North East, an area which has been neglected by the property investment market.
“The new hub and the support of our HSBC UK Relationship Manager, Simran Sanghera, will enable us to continue improving the property market in towns like Grimsby and open up investment opportunities outside of London.”
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