Strategic appointment for Gentoo’s Genie Home Purchase Plan

Gentoo Genie has employed a Development Director to lead the sourcing of sites for the innovative home purchase plan in London and the South East.

Penny Halliday has over 13 years of experience in site acquisition and delivering new build development programmes. She has worked with a number of strategic partners, major house builders and private developers to devise and implement delivery and funding mechanisms for a range of residential, care, commercial and regeneration projects in London.

Penny joins Genie from Sanctuary Group, a leading not-for-profit national housing and care provider, where she held the post of Head of Development, Commercial.

She said:

“I love Genie as a product, it’s very exciting and offers the opportunity to really revolutionise the housing market. It opens up doors and makes owning a home accessible to thousands more people through an alternative model of housing.

“Genie is an ethical product which is accessible to those who cannot get access to the housing market. It’s a really good solution to help younger people and first time buyers to get a home of their own.

“Genie can create communities because it allows people to purchase a home within their own area. Hopefully, this accessibility will allow people to stay in London and make their lives in the capital.”

Genie is a 30-year homeownership plan which doesn’t require a mortgage or deposit and is targeted at helping first-time buyers and long-term renters into home ownership.

It is looking to work with London developers to acquire new build properties, development land and joint venture opportunities.

The London investment follows Genie’s successful pilot in the North East of England which has seen 94 families move into homes of their own.

Penny lives in central London with her husband, Adam, an accountant. She will spend a day a week working from Genie’s head offices in Sunderland and the rest of the time based in the capital.

She added:

“As Development Director my position will involve sourcing development opportunities, negotiations and securing our target sites.

“My experience over the last 13 years has given me an excellent understanding of the capital’s housing market and challenges.”

Steve Hicks, Managing Director of Gentoo’s Genie, said:

“We are thrilled to have such an experienced and able Development Director on board.

“Genie has large expansion plans across the UK, and London in particular. Penny’s wealth of experience in development will prove invaluable in bringing the product to many more people.”