Shake-up sees two of Essential Living's founders depart

Two of Essential Living’s founding shareholders are understood to have left the firm following an internal shake-up.

Chief operating officer Martin Bellinger and managing director Scott Hammond have departed as part of a restructure by the build-to-rent developer’s main shareholder M3 Capital Partners.

Essential Living declined to comment on the departures.

Darryl Flay, the firm’s chief executive, will continue to lead the business.

A statement from the firm said: “Having recently opened Dressage Court in Bethnal Green and RIBA Award winning Vantage Point (pictured) in Archway, and in anticipation of two further openings in the coming year, Essential Living has effected an internal reorganisation which will further support its focus on being first and foremost a company and culture centred on serving its customers and providing the best possible living experience. 

“The strategy of the company, fully supported by its main shareholder M3 Capital Partners, continues to be to one of significant growth backed by committed equity capital.

“The business continues to be led by Darryl Flay, who will now directly oversee the company’s acquisition programme to supplement its existing holdings in Swiss Cottage, Canary Wharf, North Acton and Brentford, with a view to substantially expanding its customer offering across London over the long term.”