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 will deliver the first 935-home phase of the Dagenham Green scheme, which will offer a range of one-, two- and three-bedroom apartments across three residential buildings ranging from 14 to 18 storeys.

Once complete, Peabody’s wider masterplan will provide over 3,500 new homes and public amenities.

The development is Goodstone Living’s third on behalf of its first managed investment vehicle Goodstone Living Partners 1, capitalised by Macquarie Asset Management and the Northern Local Government Pension Scheme (LGPS).

It will feature amenities including fitness and co-working areas, a concierge service, private dining spaces, and 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.

The first homes will be available from summer 2027, with full completion anticipated by summer 2028.

The 45-acre masterplan developed by Peabody for Dagenham Green includes a lake, children’s play areas, and community gardens.

Key infrastructure such as a new secondary school, medical centre, community hub, and a market square will further support the neighbourhood.

Andy Hill OBE, founder and group chief executive of The Hill Group, commented: “We are delighted to agree this significant BTR deal in partnership with Goodstone, as we actively seek to grow our rental pipeline.

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“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 for London North at Peabody, said: “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, CEO at 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, [and] 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, commented: “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.”