UK: A 50/50 joint venture between housebuilder The Hill Group and housing association Peabody, has agreed a partnership with Goodstone Living to deliver 360 BTR homes at Dagenham Green, east London.
The BTR apartments will form part of the first phase of the regeneration of the former Ford Stamping Plant site into a mixed-use neighbourhood which is currently under construction. The JV partnership is to deliver the first 935 homes at phase one of the Dagenham Green scheme.
Once complete, Peabody’s wider masterplan will provide more than 3,500 new homes and extensive placemaking, public realm and amenities.
This new project partnership with specialist real estate developer and investment manager Goodstone Living in a deal valued at £116 million, marks one of the largest deals in the BTR sector this year. The deal highlights Hill’s expanding footprint in this market and Peabody’s aspirations to deliver more BTR as part of its mixed tenure, mixed-use approach to sustainable place-making and regeneration.
The project is Goodstone Living’s third development on behalf of its first managed investment vehicle, Goodstone Living Partners 1, capitalised by Macquarie Asset Management and the Northern Local Government Pension Scheme. GLP1 will now have approximately 1,300 BTR homes under construction across Edinburgh, Birmingham, and now London.
Situated within the first phase of 935 homes at Dagenham Green, the BTR homes will offer a range of one-, two-, and three-bedroom apartments across three residential buildings ranging from 14 to 18 storeys. The development is located near Dagenham Dock train station, providing direct access to central London in about 20 minutes.
The project will feature extensive amenities, including fitness and coworking areas, a concierge service, private dining spaces, and two landscaped podium gardens that overlook a new urban park. Sustainability is a key element, with the rental homes aiming for high environmental performance, including energy-efficient systems and green building certifications such as EPC B, WiredScore Platinum, and Fitwel 3-star ratings.
The development is positioned to be the most affordable BTR project in the capital. The first homes will be available from summer 2027, with full completion anticipated by summer 2028.
The wider 45-acre masterplan developed by Peabody for Dagenham Green includes an urban park, a lake, children’s play areas, community gardens, and other green spaces that enhance biodiversity and provide ample opportunities for recreation. Key infrastructure such as a new secondary school, medical centre, community hub, and a market square will further support the growing neighbourhood.
Andy Hill OBE, founder and group chief executive of The Hill Group, said: “We are delighted to agree this significant 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. These BTR homes will provide excellent amenities, connectivity and a ready-made community, ticking all the boxes for discerning renters.”
Iliya Blazic, CEO of Goodstone Living, added: “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.”
