Goodstone Living is pleased to announce its new partnership with Hill Group and Peabody Trust to deliver 360 new private build-to-rent homes at Dagenham Green in East London. The project is Goodstone Living’s third development on behalf of its first managed investment vehicle, Goodstone Living Partners 1 (“GLP1”), capitalised by Macquarie Asset Management and the Northern Local Government Pension Scheme (“Northern LGPS”). GLP1 will now have approximately 1,300 ‘next generation’ build-to-rent homes under construction across Edinburgh, Birmingham, and now London.

Dagenham Green is located on the former Ford Motor Company stamping plant, forming the gateway for a wider 3,500 home regeneration masterplan. The project comprises three residential blocks ranging from 14-18 storeys, located adjacent to Dagenham Dock train station offering residents direct access to central London in approximately 20 minutes. The scheme offers significant functional and flexible amenity spaces including fitness and co-working areas, private dining spaces, and two private podium gardens overlooking a new urban park. Sustainability is also a key focus with EPC B, WiredScore Platinum, and Fitwel 3-star ratings targeted to ensure the highest wellbeing and digital connectivity standards.

The project underscores Goodstone’s commitment to providing high-quality, attainable rental housing in key regeneration areas in collaboration with experienced delivery partners. The expected rents have been purposefully set to ensure the majority of new homes will be attainable to the majority of private renters in the local community – targeting Dagenham Green to be the most affordable of any modern build-to-rent scheme across London.

Project construction will commence imminently with the first homes due to complete by mid 2027, with the entire scheme scheduled to open in early 2028 in line with the first phase of the wider masterplan.

Iliya Blazic, Chief Executive Officer of Goodstone Living, said: “Goodstone’s investment in Dagenham Green demonstrates our strategy to deliver much-needed, high-quality rental housing in key regeneration areas on behalf of our institutional capital partners.

We are committed to creating sustainable communities where residents can thrive, and this project reflects our focus on providing attainable rental housing with a tailored resident proposition, excellent transport connectivity, a mixture of functional, useable amenity space, all operated within an efficient and integrated management platform.”

Andy Hill OBE, Founder and Group Chief Executive of The Hill Group, commented: “We are delighted to agree our second build-to-rent deal in partnership with Goodstone as we actively seek to grow our rental pipeline. We have the vision to create an inclusive and welcoming community at Dagenham Green with high-quality homes across all tenures. The build-to-rent offering will provide excellent amenities, connectivity and a ready-made community, ticking all of the boxes for discerning tenants.”

Kevin Etchells, Head of Real Assets at Greater Manchester Pension Fund on behalf of the Northern LGPS, said: “We are delighted to partner with Goodstone Living on this new project to deliver 360 much-needed new residential homes in East London. The UK has a significant undersupply of housing and the Northern LGPS Pool partners are proud to contribute to help solve this crisis.

This partnership is a fantastic example of the opportunity for local government pension capital to partner with sector-specialist groups, such as Goodstone Living, to deliver new homes at attainable rents, while also generating community social value and attractive risk-adjusted returns for our members.”

James Bechely-Crundall, Managing Director, Macquarie Asset Management, added: "This deal exemplifies our commitment to forming strategic partnerships with specialist groups to deliver sustainable residential housing at scale for the local community.

We expect that this sector will continue to attract institutional capital as it reliably delivers resilient, long term, and inflation-correlated cashflows; while also creating much needed new housing and social value in the community. This project – involving a specialist living platform, a leading housing association, a major housebuilder and pooled local government pension capital – demonstrates the power of partnership in working towards solving the UK’s housing crisis."

James McMylor, Managing Director, London North at Peabody, commented: “At Peabody, we are committed to making a positive impact by providing high-quality, affordable homes in thriving communities. We’re pleased to see the first phase of our Dagenham Green masterplan coming to fruition, reflecting our approach to sustainable regeneration and inclusive growth. This partnership with our partners Hill and Goodstone will bring significant benefits to the local community as a part of a wider vision to regenerate East London and ensure that affordable living is a reality for everyone.”