The HG Construction Group has launched HG Living Ltd, a new property development company specialising in Purpose Built Student Accommodation (PBSA), Build to Rent (BtR) and Affordable Housing schemes.
The company has made two key appointments in line with its strategic growth plans. Craig McPhail joins HG Living as Director and Board member at the start of April, following a move from Montagu Evans where he was a Partner and Head of Alternative Living. James Young joins the team as Executive Director from The Collective.
Through its previous development business HG Developments, the HG Group has a proven track record of securing prime sites for the residential rental and student housing markets, delivering development projects with a combined value of over £250m for its institutional partners to date.
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, which comprises 306 residential apartments along with associated amenity space.
Craig McPhail is a recognised specialist in the field of residential development, student accommodation and investment. He has overseen acquisitions and sales with a GDV in excess of £1billion over the last five years. At HG Living Craig will work alongside Director Rob Greaves to oversee the day-to-day management of the business and will be based at the company’s London offices. Craig will assume responsibility for the sourcing and identifying of appropriate sites across the UK, the appraisal and acquisition of these opportunities, and the sale of developments in line with the Board’s objectives.
Christopher Benham, CEO, HG Construction Group commented: “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. I would like to formally welcome Craig and James to the team as we enter a new chapter for HG Living and look forward to working collaboratively to bring much needed homes to the market at scale and at speed.”
Craig commented on his new role, saying: “I am delighted to join the team as the business moves ahead with significant expansion plans. As a valued client of Montagu Evans, I have worked with HG for the past six years, developing strong relationships in the process. HG Living is well placed to maximise opportunities in the PBSA, BtR and affordable homes sectors for our institutional funding partners, offering an enviable combination of construction and development expertise. With several new projects in the pipeline, this is an exciting time for the business, and I look forward to forging more productive client relationships and adding value to HG Living’s offering in my new role.”
