London: Bank ABC recently completed the £95m debt financing for Goodstone Living together with AIB GB to deliver 360 new high-quality build-to-rent homes at Dagenham Green in East London.
Goodstone Living is developing its third project through its managed investment vehicle, Goodstone Living Partners 1, backed by Macquarie Asset Management and the Northern Local Government Pension Scheme. The company is currently constructing approximately 1,300 build-to-rent homes across Edinburgh, Birmingham, and London. The new development at Dagenham Green is part of a larger masterplan for 3,500 homes and will consist of one, two, and three-bedroom apartments in three residential buildings ranging from 14 to 18 stories. Located near Dagenham Dock train station, residents will have direct access to central London in about 20 minutes.
David Brew-Riverson, Senior Relationship Manager at ABC International Bank plc, said: “We are delighted to support Goodstone Living again with this significant step towards helping to tackle the shortage of new accessible housing in the Greater London area. Our collaboration reflects the new opportunities that are arising in the Build to Rent sector and aligns with the Bank’s strategy to support transformative residential developments in key urban areas.”
The project will include various amenities such as fitness and co-working spaces, concierge services, private dining areas, and landscaped podium gardens overlooking a new urban park. It emphasizes sustainability, aiming for high environmental performance with energy-efficient systems and certifications like EPC B, WiredScore Platinum, and Fitwel 3-star ratings. Dagenham Green aims to provide high-quality, attainable rental housing in a key regeneration area, transforming a former Ford stamping plant site into a vibrant neighborhood. The rental prices are designed to be affordable for the majority of local private renters, making it one of the most cost-effective build-to-rent options in London. The first homes are expected to be available by summer 2027, with full completion projected for summer 2028.
About Bank ABC
Bank ABC is a leading MENA bank, with presence in fifteen countries across five continents. The Bank provides innovative global wholesale banking solutions in both conventional and Islamic finance, across Transaction Banking, Project and Structured Finance, Capital Markets, Financial Markets, Real Estate Finance to corporates and financial institutions. It also provides Retail Banking services through its network of branches in Jordan, Egypt, Tunisia, Algeria, and through ila Bank, its digital mobile-only bank, in Bahrain and Jordan.
Real estate finance is a key product line at Bank ABC, with strong origination, structuring, and distribution of complex transactions in London and key UK locations. Our expertise spans across various asset classes, including commercial, residential, and the development of both, with a strong reputation in the real estate market as a trusted partner in both club and syndicated deals. We offer a diverse range of financing options tailored to meet the unique needs of our clients, a flexibility allows us to serve a broad spectrum of borrowers and investors with customized solutions that align with their financial and ethical requirements. Bank ABC collaborates with a wide array of investors and property companies, from global institutional counterparts to local market leaders. Our strong presence in the MENA region provides a competitive advantage, allowing us to support international clients.
For further information please visit
www.bank-abc.com