Commonwealth_ A joint venture between housebuilder The Hill Group and UK housing association Peabody has partnered with Goodstone Living to develop a £116m (€140m) build-to-rent (BTR) project. This collaboration aims to deliver 360 BTR homes at Dagenham Green in East London, forming part of the ongoing first phase of the Dagenham Green scheme. The project will transform the former Ford Stamping Plant site into a vibrant, mixed-use neighborhood.
Andy Hill, founder and Group CEO of The Hill Group, emphasized the joint venture’s commitment to building an inclusive and welcoming community at Dagenham Green. He highlighted that the BTR homes would offer high-quality living spaces across all tenures, ensuring excellent amenities, strong transport connectivity, and a ready-made community for renters. “These BTR homes will provide excellent amenities, connectivity, and a ready-made community, ticking all the boxes for discerning renters,” said Hill.
James McMylor, Managing Director of London North at Peabody, expressed enthusiasm about the progress of the first phase of the Dagenham Green master plan. He noted that the project aligns with Peabody’s approach to sustainable regeneration and inclusive growth. “We’re pleased to see the first phase of our Dagenham Green master plan 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,” McMylor stated.
Goodstone Living’s CEO, Iliya Blazic, underscored the strategic importance of this investment in Dagenham Green, describing it as a step toward delivering high-quality rental housing in key regeneration areas. He stressed Goodstone Living’s dedication to creating sustainable communities where residents can thrive. “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, and a mixture of functional, useable amenity space, all operated within an efficient and integrated management platform,” said Blazic.
The Dagenham Green project marks Goodstone Living’s third development under its Goodstone Living Partners 1 investment vehicle. This initiative is supported by Macquarie Asset Management and Northern LGPS, further emphasizing the significance of institutional investment in tackling the UK’s housing challenges. Kevin Etchells, Head of Real Assets at Greater Manchester Pension Fund, representing the Northern LGPS, highlighted the critical role of local government pension capital in addressing the country’s housing undersupply. “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,” said Etchells.
The Dagenham Green scheme embodies a broader effort to regenerate East London by creating a balanced, mixed-use community with sustainable living options. The development’s emphasis on affordability, connectivity, and high-quality amenities positions it as a vital addition to the area. As the project progresses, the partnership between The Hill Group, Peabody, and Goodstone Living aims to ensure that the community benefits from thoughtful urban design, sustainable practices, and inclusive housing solutions. Ultimately, this collaboration reflects a shared commitment to tackling housing shortages while fostering vibrant, well-connected communities. By combining expertise in homebuilding, housing association leadership, and institutional investment, the joint venture strives to make Dagenham Green a model for sustainable urban regeneration and affordable living in East London.
