FORMER Ripon Grammar School boarding student Ed Ellerington, who set up his first company while he was still at school, is launching an innovative new £25m property business this month.

Packaged Living, backed by three institutional investors including the £1bn fund manager Palmer Capital, is a build-to-rent business with the aim of creating 1,500 new homes in residential schemes across 20 towns and cities throughout the UK over the next three years.

Managing director Ed, who created a successful text messaging house sales promotion business when he was in fifth form, aged 16 years old, says a number of teachers at RGS inspired him.

“Business studies teacher Mr Andrew, English teacher and form tutor Mr Fell and history teacher Mrs Deeming were all genuinely passionate about their subjects and the pupils they taught.”

And the former deputy head boy reveals the key life lessons RGS, which he left in 2005, taught him: “The most important thing I learnt was confidence and the ability to put my views across, to enjoy discussion and debate and to constantly challenge the norm.”

Ed, who recently joined Palmer from the property group Grainger Plc , where he was acquisitions director, says he now wants to help create truly innovative communities for the future.

Unlike most companies in the build-to-rent sector, Packaged Living will act as an investor, developer and manager and its purpose-built, high quality accommodation will have service at its core, says Ed: “It’s about taking the headache out of renting.”

www.packagedliving.co.uk