Starlight Investments, a global real estate and asset management firm, has announced the acquisition of three build-to-rent (BTR) developments in Manchester and Basildon for over £500 million. The deal significantly expands the company’s UK portfolio, which now exceeds 3,300 residential units.
The Manchester acquisitions include two high-rise towers from Renaker, a prominent UK developer. These developments are set to deliver 1,049 residential suites across two prime locations. The first is a 60-storey, 532-suite tower in the Castlefield conservation area, situated on the bank of the River Irwell. Its central location provides easy access to transport links and Manchester’s key business and entertainment districts. The building will offer one-, two-, and three-bedroom apartments, with amenities including an indoor pool, co-working spaces, a gym, resident lounges, and an outdoor terrace.
The second Manchester property is a 40-storey, 517-suite tower in the Greengate neighbourhood, a short walk from the Northern Quarter and Manchester’s Central Business District. Similar to its Castlefield counterpart, this development will feature premium one-, two-, and three-bedroom apartments and a range of facilities, such as a rooftop terrace, co-working areas, a gym, and resident lounges.
In Basildon, Starlight is acquiring a mid-rise development consisting of three blocks and 492 apartments. Located near the main train station, the property is part of Basildon’s £600 million regeneration masterplan. It caters to commuters with a 35-minute train journey into central London. The development will feature one- and two-bedroom units with amenities that include five outdoor terraces, a gym, and co-working areas.
All three properties incorporate sustainability measures such as energy-efficient lighting, solar panels, and electric vehicle charging stations.
Manchester has been identified as one of the UK’s fastest-growing cities in terms of population and economic development over the past decade, with the trend expected to continue. The Basildon development aligns with the city’s regeneration goals, contributing to a growing demand for high-quality rental housing.
Daniel Drimmer, Founder and CEO of Starlight Investments, said the acquisitions mark a significant step in the firm’s European expansion. “We are excited to significantly expand our UK portfolio and positively impact the communities where we operate. These acquisitions reflect our strategy to create dynamic communities and high-quality rental housing in growing markets across the United Kingdom,” he stated.
Renaker’s Founder and Chairman, Daren Whitaker, expressed satisfaction with the partnership. “We are pleased to have completed these transactions with a global partner who shares our vision to deliver market-leading BTR communities. We look forward to building on this relationship in the future,” he said.
Starlight’s expansion highlights the increasing interest in the UK’s BTR sector as demand for professionally managed rental properties continues to rise.
