Essential Living expands development team as building commences

Essential Living has expanded its development team with two new appointments as it begins work to construct 5,000 homes for long-term rent.

Barry Coltrini joins from Lend Lease as Development Manager and will initially lead the company’s Perfume Factory site at North Acton, while Matthew Lamb joins as
Development Manager from CBRE and is leading the company’s Greenwich development.

It follows the appointment of Quentin Keeble as development director earlier in the year.

Essential Living is the first UK company to create a portfolio of projects designed, developed and managed for long term rent. It was set up two years ago and has so far been capitalised with £150m of long term equity funding from M3 Capital Partners, an institutional investor with large ownership interests in student housing and other alternative assets.

The developer and manager of homes for private rent has already acquired eight sites across London and the South East. Three schemes – in Maidenhead, Archway and Bethnal Green – will see development begin imminently as demand for renting continues to grow.

Coltrini, spent seven years as development manager in the retail and communities division of Lend Lease, where he focused on major mixed use schemes and on new business opportunities. Prior to this, he held an associate director role at Savills as an investment surveyor.

Lamb spent six years at CBRE, where he was responsible for the management of numerous London based residential schemes, working for a variety of clients, including the Crown Estate and major housing developer Barratt Homes.

Quentin Keeble, development director at Essential Living, said:

“With the acquisition of two new sites in 2014 it was important that the team expand the diversity of the skills these two guys bring to the table, leaving us uniquely placed to deliver opportunities of an emerging market.”

Barry Coltrini, Development Executive, said:

“The mayor of London has set an annual target of 5,000 homes for private rent and we are set to make a large contribution to this figure. Essential Living’s service-driven model has scope to fundamentally change the housing market and I’m very much looking forward to support the delivery of vital new homes.”

Matthew Lamb, Development Manager, said:

“I’m delighted to be part of such a fast-moving business, at the heart of a growing sector. The company is leading the way in an emerging area of the market and the brand we’re working hard to establish will raise standards and deliver a whole new level of expectations for those renting in the private sector.”