Starlight Investments, a global leader in real estate investment and asset management, has announced the acquisition of three build-to-rent (BTR) developments in Manchester and Basildon, valued at over £500 million. The move marks a significant step in expanding Starlight’s residential property portfolio in the UK.
Two of the properties are located in Manchester, a city that has seen substantial population and economic growth in recent years. The first Manchester acquisition is a 60-storey, 532-suite residential tower currently under construction in the Castlefield conservation area, situated on the banks of the River Irwell. The tower is set to offer a mix of one-, two-, and three-bedroom apartments, all complemented by extensive amenities including an indoor pool, co-working spaces, a gym, resident lounges, and an outdoor terrace. The tower’s location offers easy access to key business, retail, and entertainment areas, including Exchange Square and Spinningfields.
The second Manchester property is a 40-storey, 517-suite tower in the city’s Greengate area, just a short walk from the Northern Quarter and Manchester’s central business district. Like the first, it will offer a variety of high-quality apartments, along with a rooftop terrace, gym, co-working areas, and resident lounges.
The third acquisition, a 492-suite property, is situated in Basildon, Essex. This mid-rise development is part of the city’s £600 million regeneration project and is located close to the main train station, offering easy access to central London with just a 35-minute commute. The Basildon property will feature one- and two-bedroom apartments, as well as five outdoor terraces, a gym, and co-working spaces.
All three developments will include a range of sustainable features such as high-efficiency lighting, solar panels, and electric vehicle charging stations, aligning with Starlight’s commitment to sustainability in its property investments.
With these new acquisitions, Starlight’s UK portfolio now includes more than 3,300 suites. Daniel Drimmer, Founder and CEO of Starlight Investments, highlighted the firm’s strategy of expanding in high-growth markets across the UK. “We are excited to announce the significant expansion of our UK portfolio with a vision to positively impact the communities where we operate,” he said. “These acquisitions reflect our strategy to create dynamic communities and high-quality rental housing in growing markets.”
The deal was facilitated through a partnership with Renaker, a well-established UK developer. Daren Whitaker, Founder and Chairman of Renaker, expressed enthusiasm about the collaboration: “We are pleased to have completed these transactions with a quality global partner who shares the same vision and values to deliver market-leading build-to-rent communities. We look forward to continuing this successful relationship.”
These acquisitions position Starlight Investments strongly in the UK’s growing build-to-rent sector, as the firm continues to expand its presence and strengthen its relationships with key developers in the market. Learn more at www.starlightinvest.com
