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Enterprise

Galaxy duo swoop for high profile housebuilder's former HQ

Property developer and investor seeking to double team after three-year £30m investment

(Image: Rick Byrne / Grimsby Telegraph)

Grimsby property developer Galaxy of Homes has embarked on a new era of growth after taking on a headquarters with a strong town building heritage.

The company burst onto the scene in 2016, and claims to have spent more than £30 million refurbishing 420 homes in the area.

Now it has taken on the modest Chartdale Homes base on Heneage Road, securing a central location as it seeks to double its team to support further business expansion.

Vikash Jayaswal, director of Galaxy of Homes alongside wife Madhurita, 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 will enable us to continue improving the property market in towns like Grimsby and open up investment opportunities outside of London.”

(Image: Rick Byrne / Grimsby Telegraph)

Chartdale owner Geoff Dyson sold up to Middlesex-based FTSE-listed Galliford Try for a cool £67 million in 2006 and the subtle offices, located through a nondescript archway off the terraced largely residential street, transferred to subsidiary Stamford Homes when the deal completed, later becoming Linden Homes.  It moved the head office to Hull in 2011. Plans for the likes of Weelsby Meadows, Cleethorpes Country Park, large swathes of New Waltham and areas of Great Coates all passed through the Heneage Road base. After a period out of the industry, the Dyson family then launched Cyden Homes, which operates from Laceby.

Now in Galaxy’s hands, the offices provide 6,500 sq ft of space, and Mr Jayaswal said it will give each division room to grow as the business increases its lettings management portfolio, acting on behalf of private landlords. With a team of 14 already, in administrative roles, it plans to recruit a further 15 staff in the next 12 months.

He praised the support of HSBC º£½ÇÊÓÆµ relationship manager, Simran Sanghera, in helping structure the deal.