One of HG Living’s first schemes is an £80m build-to-rent scheme for Pension Insurance Corporation in central Milton Keynes. HG Construction will be the main contractor on the scheme, called Bowback House, which comprises 306 residential apartments along with associated amenity space.
The building, designed by Latitude Architects, replaces an existing three-storey office block and rises in a series of steps from five to 14 storeys.
Craig McPhail joins HG Living as director and board member at the start of April, moving from surveyors Montagu Evans where he was a partner and head of alternative living. James Young joins the team as executive director from The Collective, a lettings agency that fell into administration last year.
HG Construction was established in 2000 as a management buyout of property developer Hunting Gate’s construction operations. It has since grown annual revenues from around £50m to more than £200m.
Through its previous development business HG Developments, the company has a track record of securing sites for the residential rental and student housing markets, delivering development projects with a combined value of more than £250m for institutional investors to date.
HG Construction chief executive Christopher Benham said: “We are delighted to be launching HG Living after several years’ work behind the scenes to grow the development arm of the HG Group under HG Developments. We have established a solid track record in managing the construction and development risk for our funding partners, providing a seamless end-to-end service and delivering quality residential schemes with certainty.
“Craig and James bring a wealth of development experience to our team and we are confident that these new appointments will enable us to expand our presence in the residential rental and affordable homes sectors, as well as continuing to deliver high quality student housing schemes.”