One of Greater Manchester’s most prominent Build to Rent (BTR) residential developments has been brought to market, with the 44-storey Anaconda Cut tower in Salford understood to be valued at approximately £100 million.
Located at 100 Greengate, close to Manchester city centre, the landmark residential building comprises 349 apartments and represents a significant investment opportunity within the UK’s growing operational Build to Rent market.
The development offers a mixture of one, two and three-bedroom apartments, alongside penthouse accommodation, and has been operational since welcoming its first residents in March 2019.
Designed by OMI Architects and originally developed by Renaker, Anaconda Cut has become a distinctive feature of the Manchester and Salford skyline, contributing to the wider transformation of the Greengate regeneration district.
Landmark Residential Development in Salford
The 44-storey tower is recognised for its contemporary architectural design, incorporating an extensive glazed façade, gold-coloured reflective panels and a contrasting lower brick element facing Greengate.
Positioned on the Salford side of the River Irwell, the development benefits from its proximity to Manchester’s commercial, retail and leisure districts, making it an established residential destination for city centre renters.
Anaconda Cut was designed to provide more than traditional apartment accommodation, incorporating a range of communal amenities intended to support modern urban living.
Facilities include a sky lounge on the 43rd floor, communal roof terraces, co-working accommodation, a gym, cinema room, concierge services and dedicated bicycle storage.
These facilities reflect the continued evolution of the Build to Rent sector, where residential developers and investors increasingly focus on providing professionally managed accommodation with shared amenities and lifestyle facilities.
£100m Investment Opportunity
Europa Capital is identified as an investor in Anaconda Cut, having acquired the development alongside Atlas Residential in 2019 through a forward-purchase agreement with Renaker.
The original development was also supported by a £33 million loan from Homes England, helping facilitate the delivery of the residential tower.
Unlike new development opportunities, Anaconda Cut is an established and operational rental property, with apartments continuing to be marketed across its one, two and three-bedroom categories.
The reported £100 million valuation places the development among the substantial residential investment opportunities currently being marketed in Greater Manchester.
Its sale comes amid continued investor interest in operational Build to Rent assets, particularly completed developments capable of generating rental income without the construction and delivery risks associated with new schemes.
Growing Investment Activity Across the BTR Sector
The marketing of Anaconda Cut follows further activity involving Europa Capital’s UK residential investments.
In Hounslow, West London, the company’s operational 118-home residential development at One Lampton Road was sold to LRC Group.
Meanwhile, Granary Quay, a 342-home Build to Rent development in Glasgow, has also returned to the market following an internal restructuring by its owners.
Europa Capital acquired Granary Quay alongside Mitsubishi Estate in 2024, following completion of the residential scheme by Dandara Living.
These transactions highlight ongoing activity across the UK’s purpose-built rental housing market, as investors review their residential portfolios and assess opportunities within established urban locations.
Manchester’s Build to Rent Market Continues to Evolve
Greater Manchester has experienced substantial residential development activity over recent years, with high-rise apartment buildings playing an increasingly important role in the regeneration of former commercial and industrial districts.
Greengate, in particular, has emerged as a major residential development location, benefiting from its position immediately north of Manchester city centre and close to the River Irwell.
Anaconda Cut forms part of this wider transformation, demonstrating how large-scale residential investment has helped reshape Salford’s urban environment.
For the property investment and residential development sectors, the proposed sale provides another example of how completed Build to Rent schemes are becoming established investment assets.
With 349 apartments, extensive resident amenities and a prominent location, Anaconda Cut represents a substantial operational residential property entering the investment market.
The sale process will provide a further indication of investor appetite for completed high-rise Build to Rent developments in Manchester, as the city’s residential property market continues to attract institutional interest.
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