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

Ed Ellerington has created Packaged Living, a build-to-rent business with the aim of creating 1,500 new homes across 20 UK towns and cities over the next three years.

He says he wants to help create truly innovative communities for the future.

He said that unlike most companies in the build-to-rent sector, Packaged Living will act as an investor, developer and manager.

Mr Ellerington first created a successful text messaging house sales promotion business when he was a fifth former at Ripon, aged just 16-years-old.