Starlight Investments has completed the closing of its second UK Build to Rent fund, securing £680 million in total capital commitments to support the acquisition and delivery of more than 6,000 rental homes across the country. The capital has been raised through Starlight UK BTR Fund II alongside ancillary investment
Global real estate advisor, CBRE, has secured a forward funding agreement for five prime units at Orchard Park site Global real estate advisor CBRE has brokered a £72 million pre-construction forward funding commitment between a US based investor and Newlands Developments, in association with Tulchan Development, enabling the speculative delivery of much-needed industrial and
Thakeham and Abri have completed work at Manorwood, West Horsley, delivering 139 homes designed to reflect the character of the local area. The new community includes 56 affordable homes and 74 for private sale, comprising bungalows and 2, 3, and 4-bedroom homes. Manorwood is currently 90% sold, with just nine
Cardo Group has rapidly expanded its position in the UK building maintenance market, creating a business with full-year revenues of £314 million following a sustained programme of acquisitions and organic growth. The Cardiff-based group, which specialises in repairs, maintenance and improvement services for the social housing sector, reported statutory turnover
Building performance and M&E engineering specialist Mesh has appointed Jen Wallace as Managing Director to lead the business in the next phase of its growth. Jen joined Mesh in 2019 as one of the company’s first employees, progressing from a junior renewable energy consultant to Team Lead, before being appointed
Starlight Investments has completed the closing of its second UK Build to Rent fund, securing £680 million in total capital commitments to support the acquisition and delivery of more than 6,000 rental homes across the country. The capital has been raised through Starlight UK BTR Fund II alongside ancillary investment vehicles, providing significant backing for the global real estate investor’s continued expansion within the UK purpose-built rental market. The fund is already partially deployed, with three major residential communities currently under construction. Two are located in Manchester, while a further development is progressing in Basildon, Essex. Among Starlight’s growing pipeline is Trinity Heights in Manchester, a 60-storey BTR tower approaching completion, alongside The Mercantile in Basildon and another major rental community under construction within Manchester’s Greengate neighbourhood. The latest fundraising represents another substantial injection of institutional capital into the UK’s rapidly expanding BTR development sector. Investors participating in Fund II include institutions from Europe, Asia-Pacific and Canada, combining existing Starlight investment partners with several new entrants. Significantly, the fund has also attracted government-backed investment. Earlier this year, the National Housing Bank, part of Homes England, committed £100 million as a cornerstone investor in Fund II. The investment is intended to help accelerate Starlight’s pipeline of rental housing in locations where housing supply remains constrained. Starlight’s strategy is focused on professionally managed rental communities across major regional cities including Manchester, Liverpool and Leeds, together with locations within the London commuter belt. Developments are being targeted towards areas with strong rental demand and access to employment, education and transport infrastructure. The company’s wider UK platform now comprises 12 BTR communities at various stages from development and construction through to leasing and operation. Starlight says its expanding pipeline is expected to place the business among the UK’s four largest BTR operators by scale as further developments become operational. Jonnie Milich, Head of UK Residential at Starlight Investments, said the closing would allow the business to concentrate on execution and the next phase of growth, supported by an established development pipeline and expanding UK team. The investment comes as institutional capital continues to play an increasingly important role in bringing forward large-scale rental housing. For the construction and residential development markets, Starlight’s £680 million capital raise provides substantial funding capacity for thousands of new homes, creating a significant future pipeline for architects, contractors, consultants and specialist supply chain businesses as schemes progress. Starlight has operated in the UK since 2020 and, as of May 2026, managed around 4,000 UK homes with approximately £1.1 billion of assets under management. Building, Design & Construction Magazine | The Choice of Industry Professionals
Global real estate advisor, CBRE, has secured a forward funding agreement for five prime units at Orchard Park site Global real estate advisor CBRE has brokered a £72 million pre-construction forward funding commitment between a US based investor and Newlands Developments, in association with Tulchan Development, enabling the speculative delivery of much-needed industrial and logistics development in Central Scotland. The commitment represents the largest speculative forward funding deal for an industrial and logistics project in Scotland for 30 years. The investment will unlock the speculative delivery of Orchard Park, a 40-acre industrial and logistics development at Eurocentral, Scotland’s flagship logistics hub. The development will deliver 353,000 sq ft of new Grade A accommodation across five units ranging from 42,500 sq ft to 122,500 sq ft, with bespoke design options also available to suit occupier requirements. Development is scheduled to commence on site in Q1 2027 with practical completion targeted for Q2 2028. Occupying a strategic position within the Eurocentral estate, Orchard Park benefits from direct access to the M8 motorway via a dedicated junction, providing connectivity to the national motorway network, while Scotland’s two principal airports are both within a 30-minute drive of the development. Existing occupiers within Eurocentral span the distribution, logistics and office sectors, including DHL and GXO Logistics. The investment decision is underpinned by sustained occupier demand across Scotland’s industrial sector, particularly within the Central Belt and along the M8 corridor, where vacancy rates remain exceptionally low at approximately 2.5%. Bryce Stewart, Senior Director at CBRE and Iain Davidson, Director at Colliers, are the retained letting agents on the scheme. Stephanie Bishop, Development Director at Newlands Developments, commented: “This is a significant milestone for Scotland’s industrial and logistics market and a strong vote of confidence in the sector from one of the world’s leading real estate investors. We are delighted to be investing in Scotland again alongside our Glasgow-based delivery partner, Tulchan Developments. “We believe this investment will attract significant occupiers who require top quality buildings available in the immediate future. It will reinforce Scotland’s position as an increasingly important destination for industrial and logistics investment.” Douglas Steele, Associate Director at CBRE, said: “We are very pleased have brokered a transaction of this scale and significance, bringing a much-needed injection of capital into Scotland’s industrial and logistics sector.” “The deal reflects the growing international recognition of the opportunities within the country’s I&L sector. Orchard Park will be central in building that momentum, delivering high-quality, strategically located space that can help address occupier demand and set a new benchmark for industrial development in Scotland.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Thakeham and Abri have completed work at Manorwood, West Horsley, delivering 139 homes designed to reflect the character of the local area. The new community includes 56 affordable homes and 74 for private sale, comprising bungalows and 2, 3, and 4-bedroom homes. Manorwood is currently 90% sold, with just nine homes still available to buy. The homes feature electric vehicle (EV) charging points, and over 300 solar panels were installed across the site. Manorwood properties achieve an impressive reduction in carbon emissions, averaging 1.5 tonnes of CO2 per year, which is about half the UK average. In addition, the development has wildlife-friendly features such as bird and bat boxes. Local couple, Lia and Ross, who moved into their first home together recently said that Manorwood offered the right balance of familiarity and fresh beginnings. It felt connected to the surrounding village, with homes that sat comfortably alongside the local architecture and streetscape. “We just fell in love with it,” says Lia. “It was one of those moments where we said, ‘we’ll just have a look’ – and then a couple of weeks later, we were here reserving our first home together.”* Matt O’Halloran, Operations Director at Thakeham said: “Manorwood has delivered 139 quality new homes that fit seamlessly into the existing village, but that offer all the benefits of modern construction.” “We are proud to have provided, in partnership with Abri, a new nursery building for local children, a junior sports hall, and two padel courts, marking this development out from others in the area. The community feel is already growing as people move into Manorwood, and once the final homes have sold, it will only get stronger.” Sally Ingham, Director of Development at Abri said: “Completing all 139 homes at Manorwood is a fantastic milestone. Fifty-six of these are affordable homes, meaning local people who might otherwise have been priced out of the area now have a genuinely affordable place to live. High quality, sustainable homes like these are exactly what we need as we work towards our ambition of building 20,000 homes by 2036.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Cardo Group has rapidly expanded its position in the UK building maintenance market, creating a business with full-year revenues of £314 million following a sustained programme of acquisitions and organic growth. The Cardiff-based group, which specialises in repairs, maintenance and improvement services for the social housing sector, reported statutory turnover of £239 million for the year to February 2026, representing a 65% increase. Growth was supported by seven acquisitions during the period alongside expansion across Cardo’s existing operations, as the business continues to build greater regional coverage and broaden the specialist services it can provide to housing clients. Operating profit more than doubled from £6 million to £14 million, with the operating margin increasing from 4.3% to 5.8%. However, the scale of the enlarged group is better reflected by full-year trading figures incorporating 12 months of revenue from the acquired businesses, which put turnover at £314 million and adjusted EBITDA at almost £32 million. Cardo’s acquisition programme has brought a diverse range of building maintenance capabilities into the group. Deals have included Breyer’s roofing division, energy specialist SERS operations in Scotland and Wales, CTS Projects, Scottish roofing contractor Faskin Group, passive fire protection specialist Gunfire and Trident Maintenance Services. Expansion has continued since the financial year-end. Welsh electrical maintenance specialist EFS Systems (UK) joined Cardo in May, followed in July by R Lewis & Co (UK) Holdings and subsidiary R Lewis & Co (UK), strengthening the group’s passive fire safety capabilities. In August, Cardo added Andover-based plumbing and heating specialist Correct Contract Services, further expanding its building services offering and geographical reach. The acquisition strategy has been accompanied by significant workforce growth. Average employee numbers increased from approximately 780 to 1,276, with much of the expansion concentrated within operational roles. Cardo’s balance sheet also reflects the pace of investment. Cash increased from £9.9 million to £15.1 million, while long-term creditors rose from £30.5 million to £81.6 million as acquisition financing was deployed to support the group’s expansion. The business is now looking to combine further strategic acquisitions with organic growth secured through long-term repairs and maintenance contracts. Its strategy is particularly focused on strengthening regional delivery capabilities across the social housing market while bringing together complementary services including roofing, electrical works, heating, energy efficiency and passive fire protection. Further consolidation is also planned within Scotland, where Heatcare Oil and Gas and Rodgers & Johnston are set to be integrated into Cardo Scotland. With a strong forward order book and growing pipeline of opportunities, Cardo is positioning the enlarged group for further expansion as investment in housing maintenance, building safety, energy efficiency and asset improvement continues across the UK. Building, Design & Construction Magazine | The Choice of Industry Professionals
Building performance and M&E engineering specialist Mesh has appointed Jen Wallace as Managing Director to lead the business in the next phase of its growth. Jen joined Mesh in 2019 as one of the company’s first employees, progressing from a junior renewable energy consultant to Team Lead, before being appointed Operations Director in 2022. Over the past seven years, she has played a pivotal role in developing the systems, processes and culture that underpin all of Mesh’s services in the construction sector. Her appointment comes as Mesh continues to broaden its work across the built environment, combining building physics analysis with building services design to help clients and developers to improve the energy efficiency of new housing, public and commercial buildings. In her new role as Managing Director, Jen now takes responsibility for leading operations, people and culture, sales and marketing, and the day-to-day running of the business. Commenting on this appointment, Jen said: “This is an incredibly exciting time to be working in building engineering and the opportunities for Mesh across the built environment are considerable. Developers need to respond to increasingly demanding legislative requirements around energy performance, carbon emissions and overheating caused by a changing climate. Building owners are facing similar challenges which require improving and decarbonising existing facilities to drive down energy costs, transition away from fossil fuels, and maintain occupier comfort. Digital technology and automation continue to advance apace. We are developing and applying multiple tools to automate the more repeatable data processes to enable our engineers to focus their expertise where it adds the most value to our customers. Mesh has evolved enormously since I joined the business. However, what has remained consistent is our focus on understanding what clients are trying to achieve and using data-led evidence to help them make better decisions. Our approach is to bring together building physics and M&E engineering rather than looking at individual issues in isolation. This means we can quantify the impact of different energy strategies and assess the implications on running costs and carbon emissions to achieve the right balance of what is practical and deliverable for every project. I am extremely proud of the people and culture we have built at Mesh. There is a genuinely shared commitment to improving the sustainability of buildings and the wider environment that we live and work in. I am looking forward to leading the next stage of the business.” Doug Johnson, Founding Director of Mesh: “The opportunities ahead are significant. Whether we are working with architects to create better-performing buildings, pushing the boundaries of sustainable design and engineering, or helping organisations develop practical strategies to decarbonise existing facilities, property managers, architects and developers increasingly need joined-up engineering advice backed by robust analysis to inform decision making. Jen has had a very positive impact on Mesh’s growth. She joined us at a very early stage having worked in the charitable and local authority sectors. She has helped to build much of the operational infrastructure that has enabled Mesh to develop its customer base and services – and maintain a high level of repeat business. Jen understands the commercial and operational realities and challenges our clients face. Her progression from energy consultant to Managing Director reflects her talent as a business leader in the built environment. I am delighted that she has accepted this role to lead Mesh through its next phase.” Mesh’s services have continued to broaden as Building Regulations have become more stringent and renewable energy technologies have advanced. Its work now ranges from energy strategies and overheating analysis, operational and embodied carbon assessments, compliance and planning support, through to M&E design, tender specifications and strategies for decarbonising existing buildings. Mesh also has a number of niche specialisms – working with architects and planning consultants on National Planning Policy Framework HO11 projects that demand innovation and excellence in sustainability and design; developing energy strategies for complex estates and building portfolios needing to reduce energy consumption and accelerate decarbonisation, and embodied carbon analysis such as for M5 planning policy for replacement buildings. A key priority under Jen’s leadership will be the continued development of digital systems and automation for repetitive tasks and data collection to allow Mesh’s engineers to maximise their time on strategic analysis, problem solving, and developing practical, evidence-based solutions for clients. For more information, see www.mesh-energy.com or email info@mesh-energy.com. Building, Design & Construction Magazine | The Choice of Industry Professionals