The BTR apartments will form part of the first phase of the regeneration of the former Ford Stamping Plant site into a vibrant mixed-use neighbourhood which is currently under construction. The JV partnership is to deliver the first 935 home phase of the Dagenham Green scheme. 

Once complete, Peabody's wider masterplan will provide over 3,500 new homes and extensive placemaking, public realm and amenities, transforming this landmark East London location into a sustainable community for modern living.  

This new project partnership with specialist real estate developer and investment manager Goodstone Living in a deal valued at £116m, 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 do 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 (“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.

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 co-working 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.

Dagenham Green will provide high-quality, attainable rental housing in one of London's most important regeneration areas. With rents set to be attainable for the majority of private renters in the local community, this development is positioned to be the most affordable Build to Rent 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.

With its focus on sustainability and quality of life for residents, the project underscores all partner's commitment to delivering high-calibre, future-proofed housing developments in major regeneration areas, with residents benefiting from cutting-edge technology, high-quality furnishings, and a well-managed environment.

Andy Hill OBE, founder and Group Chief Executive of The Hill Group, commented: “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.”

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.”

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.”
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.”

- Ends -

Notes for Editors:

Notes for Editors:Dagenham Green is a placemaking led multi-phase masterplan in LB Barking & Dagenham which Peabody acquired in 2021 and is delivering as Master Developer. The first phase is a joint venture between The Hill Group and Peabody and is an inspiring new vision for the future of this vibrant and diverse East London community. 

Part of an ambitious masterplan to regenerate the 45-acre site that once housed the Ford Motor Company's Stamping and Tooling Operations, this development sets the benchmark for what will follow. 

Dagenham Green will be a truly integrated community, featuring gardens, a park, shops, services, workspaces, and cafés, and offering a collection of one, two and three bedroom apartments – all with their own outdoor space. Future plans for the area include a new secondary school, a community hub and 4,000 sqm of flexible commercial space. 

The 360-unit BTR scheme forms part of a larger 3,500-unit masterplan, which will also include 50% affordable housing (a mixture of affordable rent and shared ownership), market sale homes and commercial properties. 

The development is located adjacent to Dagenham Dock station, providing direct rail access to Fenchurch Street in approximately 20 minutes. 

Summary facts on the BTR scheme:

• 360 units across three buildings of between 14-18 storeys

• The development will include 7,000 sqft of functional and flexible resident amenities, including a concierge service, parcel storage, fitness facilities, co-working spaces, and private meeting rooms

• There will be two podium gardens for residents to enjoy, each of approx 400 sqm

• 71 jobs and 20 internships will be created as part of the construction and operational phases of the scheme 

Social Value commitments:

• Employment & Skills Development

• Local Employment & Job Creation: 71 jobs created, with 48 local hires and 23 opportunities for harder-to-reach groups.

• Apprenticeships & Internships: 20 local apprentices (Levels 2-4+), supported through partnerships with schools, colleges, and training providers.

Community Engagement & Support

• Community Engagement Initiatives will include training opportunities, charitable donations, and maintaining local spaces.

• Community outreach will include 480 volunteering hours contributed by project teams and supply chain to support voluntary or community groups in the borough.

• Support for local procurement will include aiming for at least 25% of goods and services to be sourced locally 

Construction & Environmental Responsibility

• Considerate Constructor Scheme, target score of 43

• EPC B, WiredScore Platinum, and Fitwel 3 ratings being targeted 

About The Hill Group 

The Hill Group is a top 10 housebuilder* and one of the leading developers in London, the home counties, and the South. The company is renowned for its partnership ethos, specialising in the building of distinctive new places and communities where people want to live, work, and socialise.  

In its 25th year, this family-owned and operated company has grown to establish itself as the UK's second-largest privately-owned housebuilder, with an impressive and diverse portfolio of projects ranging from landmark, mixed-use regenerations, and inner-city apartment developments to homes in rural communities.

Employing over 950 staff, the company operates from six strategically located regional offices including Bristol and Abingdon to help facilitate growth in the South West and the Midlands, with its head office based in Waltham Abbey, Essex. 

Hill completed 2,886 homes in the last financial year and has a controlled development pipeline of over 8,800 homes. Around half of its portfolio is in joint ventures to deliver a range of mixed-tenure developments, reflecting Hill's commitment to partnerships with government, local authorities, housing associations, and private clients.

Since the company was founded in 1999, Hill has won over 500 industry awards, including the esteemed title of WhatHouse? Housebuilder of the Year in 2015, 2020 and 2023. Most recently in 2024, Millside Grange in Croxley Green also won The Standard's Homes & Property Award for Best Commuter Home. 

In addition, Hill's dedication to delivering the highest quality homes and exceptional customer service has earned the housebuilder its 5-star status in the Home Builders Federation's annual Customer Satisfaction Survey for the past seven years. With a score of 4.8 out of 5, Hill is also ranked as the number one housebuilder on Trustpilot. 

Hill is donating 200 fully equipped modular homes to local authorities and homeless charities as part of a £15 million pledge through its Foundation 200 programme, launched in 2019 to mark Hill's 20th anniversary. 

Follow us on LinkedIn and Instagram @HillGroupUK 

For more information, contact The Oracle Group PR Agency on Tel: 020 8394 2821 or hill@oraclepr.co.uk  

The Hill Group was listed within the top 10 of the Top 150 UK Contractors and Housebuilders published by Building.co.uk in December 2024 

Peabody 

160 years after it was established, Peabody is one of the oldest and largest not-for-profit housing associations in the UK. 

We're proud to have been around for generations and to help people find their place in new homes, communities and neighbourhoods across London and the Home Counties. 

Responsible for over 109,000 homes and 225,000 residents, it is now more important to us than ever to continue our mission to help people flourish by getting closer to our residents and providing quality homes that are more than just a place to live. 

We are relentlessly committed to creating great places and building sustainable, new homes that stand the test of time. With significant development, placemaking and regeneration expertise, we proudly invest in communities for the long-term. 

Find out more: https://www.peabodynewhomes.co.uk/about-us/ @PeabodyNewHomesPeabodyNewHomes.co.uk 

Goodstone Living  

Goodstone Living is a specialist real estate development and investment manager creating a better way to rent. 

The full-service platform acquires, develops and operates high quality rental housing in London and key regional cities. The business' senior management team has over 25 years average experience in the residential sector and extensive residential development and operational expertise.

The business is focused on delivering and operating the next generation of rental housing that integrates innovation, sustainability, wellbeing, and customer experience. Goodstone Living's ambition is to become the UK's leading specialist manager of build-to-rent residential communities and is seeking to assemble a best-in-class portfolio by acquiring stabilised assets, developing sites, forward fundings and corporate M&A opportunities.  

For further information, please visit www.goodstoneliving.com Contact:

Lauder TeacherAndrew Teacher 07968 124545 andrew@lauderteacher.com

Shirin Iqbal 07790 030229 shirin@lauderteacher.com 

About Northern LGPS Northern LGPS – a collective asset pool for the local government pension schemes of Greater Manchester, West Yorkshire and Merseyside – has combined assets under management of £58 billion. This partnership already has two developments with Goodstone Living underway in Birmingham and Edinburgh.

For further information, please visit https://northernlgps.org/