Macquarie Asset Management’s dedicated UK Build to Rent platform – Goodstone Living – announces two new key appointments, strengthening its senior leadership team. Lee Hawkins has been appointed as Construction Director and Lizzie Pennant will become Goodstone Living’s General Counsel.
Lee who was formerly a Project Management Director at Greystar Real Estate Partners, will lead the design, procurement and delivery activities of Goodstone Living’s development pipeline. Working in real estate for over 25 years, Lee held senior roles at Westfield Group, Mace Group, Sir Robert McAlpine and Greystar Real Estate Partners, where he oversaw the construction of 3,000 Build to Rent units.
“Goodstone Living has already made a big impact despite being around for less than a year, which arguably comes as little surprise given the reputation, experience and expertise encompassed by Macquarie and the business’ senior leadership team. I am excited to be joining Goodstone Living to build out its construction delivery function and look forward to starting with the two high profile site acquisitions in Birmingham and Edinburgh.”Lee Hawkins, Construction Director, Goodstone Living
Lizzie has over a decade of legal experience. She will be responsible for strategic advice and delivering risk management procedures at Goodstone Living, advising the Board on all governance, compliance and reputational issues. Lizzie joins the company after half a decade as Senior Legal Director at Greystar Real Estate Partners. Lizzie played a key role in growing the international real estate developer and manager’s European business. Previously, she held legal roles at Jones Day and Goldman Sachs (secondment).
“I am thrilled to be joining Goodstone Living at this stage of its ambitious growth plan. The business is well supported by its shareholders and senior leaders and I look forward to working with the team to ready the business for scaled operations.”Lizzie Pennant, General Counsel, Goodstone Living
Since launching in July 2021, Goodstone Living has acquired two sites. The first site in Digbeth in central Birmingham was acquired in the month the platform launched. The four-acre consented next generation Build to Rent scheme, known as Camp Hill Gardens, is expected to deliver over 500 new homes and the largest private garden in central Birmingham.
In February this year, Goodstone Living announced its second site acquisition – and the first in Scotland. The Ocean Drive site will deliver a 338 home Build to Rent scheme set across 2.5 acres and four ten to 14 storey buildings on the waterfront in Leith, Edinburgh.
Seeking to develop Build to Rent assets in urban locations across the country, Goodstone Living is headed up by industry heavyweights Darryl Flay and Martin Bellinger. Both are best known for pioneering the sector in the UK through the creation of Essential Living in 2012, the country’s first dedicated private Build to Rent developer-operator.
“We are delighted to welcome both Lizzie and Lee to Goodstone Living’s senior leadership team. These high quality industry leaders are joining us at a pivotal point in the evolution of our business and we look forward to working together to build the leading investment manager in the UK’s Build to Rent residential sector.”Martin Bellinger, Principal, Goodstone Living
With considerable experience in the Build to Rent sector, Macquarie Asset Management currently manages around £403bn of assets. The company has a long history of advising and partnering with specialist multi-housing operators to raise over $US14bn (£10.6bn) from institutional investors over the past ten years.