Round Hill Capital, a leading global specialist real estate investor, developer and manager, has recently topped out on its Fairfax build-to-rent development in central Manchester. With BTR specialist Olympian Homes acting as lead developer and RG Group as main contractor, topping out was achieved eight weeks ahead of schedule. Acquired
Prime plc has reached a significant milestone in Cornwall, achieving Financial Close on a key worker accommodation project in Truro, helping to address the critical lack of housing for key workers at Royal Cornwall Hospital. In June 2023, Steve Williamson, CEO of the Royal Cornwall Hospitals NHS Trust, highlighted the
An eight-week consultation and engagement process is now open that will gather local feedback around the principles for investment and development of the city centre fringe areas over the next decade and more. Manchester City Council (MCC) and Salford City Council (SCC) are working in collaboration on the ambitious proposals
Thousands of homes are to be made warmer and more energy efficient as part of an £80m investment secured by the Liverpool City Region Combined Authority. £31.8m will come from the Warm Homes: Local Grant fund and will be distributed to low-income homeowners and private renters. The funding was secured
In partnership with Knowsley Council and procurement specialist Fusion21, Bloor Homes has smashed its social value targets at its Elowen Garden Village development in Halsnead Garden Village, as part of the council’s planning obligations. Fusion21 has been working with Knowsley Council using its Social Value Through Planning initiative to support
CBRE Warns of Challenges of Building Safety Act on New Development CBRE has reported an excellent start to 2025 in the Build-to-Rent (BTR) market in the North with three forward funding deals totaling £420M transacting in just two weeks across Manchester and Leeds. However, the firm’s northern sector lead warns
Specialist real estate lender Pivot has successfully completed a funding package comprised of three loans for a residential development in Denby Dale, West Yorkshire. The £6.5m facility is uniquely structured to encompass three distinct loan types within a single transaction—a development exit bridge, part-complete development loan, and ground-up development facility.
Property management and financial platform Lendlord has unveiled a dedicated news hub to help landlords navigate the Renters’ Rights Bill 2025—one of the most significant rental sector reforms in over 30 years. The hub provides structured, up-to-date information on key legislative changes, addressing common concerns and offering expert insights into
“We are delighted to have been awarded a provisional funding allocation of £12.3 million from the Warm Homes: Social Housing Fund Wave 3 and look forward to collaborating with colleagues from the Department for Energy Security and Net Zero in the coming weeks to launch this vital project. Over the
The future of decarbonised home heating is upon us and is already being rolled out across the UK with some of the country’s largest housebuilders – with the latest housing development benefiting from the solution ‘going live’ in recent weeks. The Community Heat Hub (CHH), one of GTC’s Future Homes
Round Hill Capital, a leading global specialist real estate investor, developer and manager, has recently topped out on its Fairfax build-to-rent development in central Manchester. With BTR specialist Olympian Homes acting as lead developer and RG Group as main contractor, topping out was achieved eight weeks ahead of schedule. Acquired via a forward funding agreement in August 2022, the development, one of the largest in the central Manchester area, totals 488 one-and-two-bed, high quality apartments across two buildings, of 29 and 23 storeys respectively. Residents will benefit from exceptional amenities including a gym, 24-hour concierge, co-working space and roof terrace with panoramic views of the city skyline. Due to achieve practical completion in early 2026, the asset will be operated by Round Hill Capital and Allsop. Serving as the gateway to the Portugal Street East masterplan regeneration area, the project is less than a kilometre from the city centre. Appealing to a wide demographic of young professionals, families and students, the development is located next to Piccadilly Station, the largest train station in the city, which provides excellent connectivity across the region and wider UK. The scheme is on track to achieve a BREEAM Very Good certification. In line with Round Hill Capital’s commitment to embedding technology in its business and its focus on sustainability, Utopi has been engaged to provide accurate tenant meter data in order to assess the environmental impact of the buildings, positively engage with the future residents, and deliver insightful environmental reporting to Round Hill Capital stakeholders. In 2024, Round Hill Capital secured a £115 million development loan from global investment firm Carlyle (NASDAQ: CG) to fund the construction of Fairfax. With higher-than-average annual GDP growth of 2.2% forecast over the next five years and a growing population, Manchester will require over 170,000 new homes by 2038, with only 70,000 planned or underway, positioning the UK’s largest regional urban centre as an attractive location for investment in high quality rental homes.* Tom France, Head of Acquisitions UK, Round Hill Capital, commented: “Fairfax is our prime, flagship UK build-to-rent development, and just one example of the high quality, sustainable homes in our established pan-European Living platform. Reaching the highest point in the construction ahead of schedule is a fantastic achievement and testament to the collaborative efforts of everyone involved in the project, including the Round Hill Capital team, Olympian Homes and RG Group, all of whom share a commitment to delivering much needed rental homes in central Manchester, where housing supply is still not meeting demand. Manchester is a sought-after location in the UK, attracting young professionals and students and where technology, engineering, manufacturing and pharmaceutical businesses are thriving, creating a huge investment opportunity.” *Sources: Colliers’, UK’s Top UK Residential Investment Cities report / Savills, “Why invest in Manchester” Autumn 2023 report. Building, Design & Construction Magazine | The Choice of Industry Professionals
Prime plc has reached a significant milestone in Cornwall, achieving Financial Close on a key worker accommodation project in Truro, helping to address the critical lack of housing for key workers at Royal Cornwall Hospital. In June 2023, Steve Williamson, CEO of the Royal Cornwall Hospitals NHS Trust, highlighted the growing housing challenges faced by hospital staff, which directly impact recruitment and retention, posing long-term risks to maintaining quality care for the community. Prime, a specialist in health and care development, is now working with the Trust to deliver this much-needed key worker housing. The first development site has been identified on Tresawls Road, which has planning permission to deliver 89 new beds for key workers. The site is within walking distance of the hospital and completion of the scheme is targeted for January 2027. This project is part of a broader initiative, and Prime is committed to working long-term with the Trust to identify additional development sites to meet current and future demand. The Tresawls Road site will provide 22 units across 3 blocks of new purpose-built residential accommodation, offering a total of 89 beds arranged in 3, 4 and 5-bed apartments. Nevada Construction Limited have been appointed as the main contractor. Ella Ballatti Stracey, Chief Performance, Partnerships and Transformation Officer at Royal Cornwall Hospitals NHS Trust, said: “The key worker accommodation project is fantastic news for RCHT. Cornwall faces significant housing challenges, which many of our colleagues will have experienced firsthand. These challenges have had a direct and definite impact on issues around recruitment and retention, putting a greater demand on colleagues who provide such an integral role delivering care for our patients and community. “All of us at RCHT are incredibly pleased to see key worker accommodation now being provided so close to our Royal Cornwall Hospitals site. We hope this development, along with the promised 35% affordable homes being offered as part of the new Langarth Garden Village, will pave the way for more opportunities to provide sustainable, secure accommodation to our key workers, both from RCHT and the wider public services.” Leighton Chumbley, Chief Executive at Prime, said: “We are thrilled to reach Financial Close on this vital project. The key worker housing initiative in Truro is a testament to our commitment to supporting NHS staff and enhancing community wellbeing. “By providing high-quality accommodation, we aim to improve the lives of those who dedicate themselves to healthcare, ensuring they have a comfortable and convenient place to live.” Prime aims to collaborate closely with end-users and the local community to ensure the delivery of the right facilities in the right locations. Beyond addressing immediate accommodation needs, Prime is committed to creating long-term social value, including employing local workers and using local suppliers to support the economy. The support of the community in reaching and understanding local needs is invaluable, and this effort is crucial to securing the future of NHS services in Truro, strengthening Cornwall as a place to live and work. Building, Design & Construction Magazine | The Choice of Industry Professionals
An eight-week consultation and engagement process is now open that will gather local feedback around the principles for investment and development of the city centre fringe areas over the next decade and more. Manchester City Council (MCC) and Salford City Council (SCC) are working in collaboration on the ambitious proposals that could see 7,000 new homes built across seven distinct neighbourhood areas, which could support 4,500 jobs. The Draft Strategic Regeneration Framework (SRF) for Strangeways and Cambridge has already been heard by both Council’s respective Executive and Cabinet committees, and local people, businesses and other stakeholders are now invited to share their thoughts on the plans. Consultation People can provide feedback online (strangewaysandcambridgesrf.info) and in-person events will also be held for respondents to ask questions and find out more about the long-term regeneration proposals, which will also include refreshments and activities for families. Salford – Broughton Community Centre, Great Clowes Street, Salford, M7 1ZQ Salford – Broughton Community Centre, Great Clowes Street, Salford, M7 1ZQ Manchester – The Yard, 11 Bent Street, Manchester, M8 8NF Salford – Broughton Community Centre, Great Clowes Street, Salford, M7 1ZQ Salford – Broughton Community Centre, Great Clowes Street, Salford, M7 1ZQ Manchester – The Yard, 11 Bent Street, Manchester, M8 8NF Manchester – The Yard, 11 Bent Street, Manchester, M8 8NF The consultation will close on Monday 26 May 2025 after which the results will be reported back to MCC Executive and SCC’s cabinet committees. Leader of the Council Bev Craig said: “This framework is our shared long-term vision, alongside our colleagues in Salford, to deliver a transformation in the Strangeways and Cambridge communities. “We have an opportunity to create a platform for development and investment, enabled by the successful work carried out by the Operation Vulcan partnership, to support businesses to grow and prosper in these neighbourhoods – creating thousands of new jobs and support the ongoing growth of our city – alongside a major new public park and new homes, including Council, social and genuinely affordable housing. “We know this area has challenges, including the prison that presents a key barrier to the regeneration of the area, but we also know that there is energy and a community brimming with potential. “We will deliver huge change in Strangeways in the coming years, working alongside the people who live and work there, and as we move to consultation in the coming weeks, we want to speak to local people and businesses about how we can make this part of the city thrive.” Salford City Mayor, Paul Dennett added: “We’ve been on a journey of growth and regeneration in recent years, and our work has changed the landscape in different parts of Salford for the benefit of our residents. It’s now time to focus on the Cambridge area and working with colleagues in Manchester, this framework provides us with a once in a lifetime opportunity to do that. “This framework proposes options for the Salford part of the SRF, taking into account the requirements of residents and local businesses, and the need for quality housing in the area. The key will be to balance these needs with what the long-term flood data is telling us and how we future-proof the area against climate change. “The proposals in the framework seek to identify the best possible options for this area. These include the exciting opportunity to create a new city park for all, with an option for appropriate levels of mixed-use development, to continue to drive sustainable growth. “I’d urge everyone with a vested interest in this area, whether you’re a resident or business to engage with the consultation process and work with us help shape the future of this part of the city.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Thousands of homes are to be made warmer and more energy efficient as part of an £80m investment secured by the Liverpool City Region Combined Authority. £31.8m will come from the Warm Homes: Local Grant fund and will be distributed to low-income homeowners and private renters. The funding was secured by a Combined Authority-led consortium of Liverpool City Region’s six local authorities – Halton, Knowsley, Liverpool, Sefton, St Helens and Wirral – and was the third highest award in England. A further £48m has been secured through the Warm Homes Social Housing Fund which will be distributed among 24 housing associations operating in the city region and the wider north west. The award was the fourth highest in England and work is expected to start in the summer. The investment – which will enable energy-efficiency improvements to around 10,000 homes – is part of a five-year carbon action plan to make the city region net zero by 2035. It comes on top of £105m already secured by the Combined Authority to retrofit 10,000 homes with energy-efficiency upgrades including wall and loft insulation, new roofs, solar panels, heat pumps and ventilation. Mayor of the Liverpool City Region Steve Rotheram said: “Too many families are still forced to choose between heating and eating – and that’s simply not right. This investment from government is a welcome step towards fixing that, with more than £31m going to low-income households in our region and another £48m to support social housing residents. “Here in the Liverpool City Region, we’ve already invested over £100m to improve the energy efficiency of more than 10,000 homes – cutting bills, reducing carbon emissions, and tackling fuel poverty. This latest funding builds on that progress, helping even more people stay warm for less. And I’ll keep working with government to make sure our region gets the investment it needs, so no one is left behind.” Households with an energy inefficient home (Energy Performance Certificate Band D or below) and living in certain postcodes will be automatically eligible for the local grant scheme. Grants can also be accessed by households with an annual income of less than £36,000, who own their own home or for certain privately rented properties. Cllr Graham Morgan, Cabinet Member for Housing and Regeneration, said: “More than half of our region’s 720,000 homes are rated below the EPC band C standard, which makes them less efficient and more expensive to heat. We’ve secured this latest funding thanks to our track record of working with government and partners to deliver large scale retrofit projects. This significant investment means that thousands of local people will pay less to heat their homes in future.” Building, Design & Construction Magazine | The Choice of Industry Professionals
In partnership with Knowsley Council and procurement specialist Fusion21, Bloor Homes has smashed its social value targets at its Elowen Garden Village development in Halsnead Garden Village, as part of the council’s planning obligations. Fusion21 has been working with Knowsley Council using its Social Value Through Planning initiative to support the delivery and monitoring of social value throughout the construction phase of the development. The collaboration between Bloor Homes, Fusion21, and Knowsley Council has delivered a range of positive outcomes for the community, achieving three headline social value outcomes in the local area including: The 11 employment opportunities created are helping to fill key roles at Elowen Garden Village as part of the Halsnead Garden Village development, including a local National House Building Council (NHBC) inspector, ceramic tiler, groundworker, joiner, sales advisor, and six bricklayers. This has achieved the social value aim of increasing the amount of Knowsley residents working on-site at the Bloor Homes development. What’s more, two local young people who started as apprentices on the development have now been hired as full-time bricklayers. A primary focus of this collaboration was to create more opportunities for local residents that will lead to quality full-time employment. Sarah Maguire, Head of Social Value at Fusion21 said: “At Fusion21, we work with local authorities and developers to ensure construction projects create meaningful, sustainable, and long-term benefits for communities. “Through this partnership, Bloor Homes has provided jobs, apprenticeships, and opportunities that will have a lasting impact on local people and businesses in Knowsley. This is exactly the kind of positive change Knowsley Council champions through its Social Value Framework.” James Clark, Managing Director at Bloor Homes’ North West region, said: “We are proud to have exceeded our social value targets in Knowsley, and it has been very rewarding to welcome so many local people and businesses into our team at Elowen Garden Village. We will be continuing our work experience scheme into 2025 and look forward to welcoming more young people to learn about the high standards of building we have at Bloor Homes.” Cllr Tony Brennan, Cabinet Member for Regeneration and Economic, said: “Construction of new housing at Halsnead Garden Village is not only creating much needed new homes it is also providing employment and apprenticeships for Knowsley residents and creating supply chain contracts for Knowsley businesses. Additionally, the employment site to the south of the M62 will deliver around 1,000 new jobs. “Halsnead Garden Village is the largest combined housing and employment development in the City Region and will provide a significant boost to the local economy.” Part of the wider Halsnead Garden Village development, Bloor Homes’ Elowen Garden Village development includes a range of three and four-bedroom homes located on Windy Arbor Road, with a sales centre open daily from 10am – 5pm. For more information about Bloor Homes’ developments in the North West, visit bloorhomes.com To find out more about Knowsley Council’s Social Value framework, visit www.knowsley.gov.uk To find out more about how to unlock the potential of social value through planning visit www.fusion21.co.uk Building, Design & Construction Magazine | The Choice of Industry Professionals
CBRE Warns of Challenges of Building Safety Act on New Development CBRE has reported an excellent start to 2025 in the Build-to-Rent (BTR) market in the North with three forward funding deals totaling £420M transacting in just two weeks across Manchester and Leeds. However, the firm’s northern sector lead warns that the Building Safety Act (BSA) is a major challenge; impacting transactions and ultimately new homes delivery, representing the single biggest barrier to building in city centres. The two stand out deals to complete in recent weeks include the acquisition of the 51-storey, 494 apartment development in Renaker’s New Jackson area of Deansgate, Manchester by a partnership between L&G, Nest and PGGM. Known as F1, the development is currently underway. In Leeds, Property investment management firm Barings agreed the £152M forward funding deal with Glenbrook for a 600 apartment mixed-use scheme at Kirkstall Road in Leeds. The commonality between these two forward funding deals is that they were both already implemented ahead of the new Building Safety Act Gateway 2 regime, which affects the construction of higher-risk and large-scale buildings. Head of Residential Investment, North at CBRE, Tom Sinclair (pictured), explains; “With BSA compliance now being mandatory for developers and building owners, and whilst the construction sector adjusts, there are significant challenges ahead. All projects must now navigate three critical safety gateway check points, meaning that approval is required at the planning stage, before building work can commence and before a building can be certified complete and occupied. “The two significant transactions we have concluded in recent weeks were already implemented before the Act came into force and as a result we will see the delivery of much-needed new homes in Leeds and Manchester. Whilst many viability constraints on funding deals can be overcome with creative solutions, the Gateway 2 approval may have a major cost and time impact on future strategic funding deals of this scale, due to lengthy delays being imposed by going through the system. This will further compound challenges in the market, restricting delivery of new homes.” Sinclair continues; “For schemes that can successfully navigate the Gateway process, we are seeing proven investor demand for Build to Rent developments in all regional markets. Indeed, the contraction in anticipated supply of new developments and consequential lack of new rental options is anticipated to drive strong occupational demand and investment performance. In the meantime, we are working with Developers across the region to optimise funding structures that mitigate the impact of the BSA regulations and present developments in a manner that work for both Investors and Developers to enable new forward funding agreements and seed the delivery of new homes. Building, Design & Construction Magazine | The Choice of Industry Professionals
Specialist real estate lender Pivot has successfully completed a funding package comprised of three loans for a residential development in Denby Dale, West Yorkshire. The £6.5m facility is uniquely structured to encompass three distinct loan types within a single transaction—a development exit bridge, part-complete development loan, and ground-up development facility. This innovative funding solution enables the borrower to refinance an existing lender, support the completion of partially built units, and provide capital for the new construction of a 34-home residential development. The case was introduced by a broker who chose Pivot because of its ability to structure the deal as three transactions across the different loan types to maximise leverage and consider the varying stages the site was in. The funding package was structured as follows: This holistic approach ensures that the borrower can efficiently manage sales, complete construction phases, and maintain momentum in delivering high-quality homes. The lender has cultivated a reputation for deal structuring that considers the true SME developer experience—several of the Pivot team have built and sold properties and have a genuine understanding of the inherent opportunities and pitfalls that come with the job. Andreas Yianni, Commercial Director at Pivot Finance, said: “This transaction highlights our ability to shape funding solutions that address multiple stages of a development in one seamless package. “By incorporating a blend of development exit, part-complete, and ground-up funding, we have provided the borrower with a flexible and strategic solution to support their project through to completion. “It’s a great example of how we tailor our lending to meet the real-world needs of developers.” Pivot has enjoyed an incredible start to the year with as raft of new hires, increased funding capacity, and a vocal commitment to supporting ambitious SME developers who need reliable bridging and development finance to bring forward their sites. Building, Design & Construction Magazine | The Choice of Industry Professionals
Property management and financial platform Lendlord has unveiled a dedicated news hub to help landlords navigate the Renters’ Rights Bill 2025—one of the most significant rental sector reforms in over 30 years. The hub provides structured, up-to-date information on key legislative changes, addressing common concerns and offering expert insights into the evolving regulatory landscape. Updated weekly, it ensures landlords stay informed about government announcements, compliance requirements, and the bill’s implementation timeline. Key topics covered include: Lendlord’s research suggests that the UK rental market is expected to stabilise with an 11% growth rate post-reform, with landlords adapting to changes between July and October 2025. While compliance costs may rise, properties meeting the new standards could benefit from higher rental yields and increased tenant demand. Aviram Shahar, Co-founder and CEO of Lendlord, commented:“The private rental sector is undergoing a major transformation, and the Renters’ Rights Bill 2025 brings both opportunities and challenges. Compliance will be crucial to long-term success, and landlords need reliable insights to stay ahead. That’s why we keep our news hub updated in real time—providing expert analysis and the latest data to help landlords make informed decisions.” The Lendlord Renters’ Rights Bill 2025 News Hub is freely accessible to landlords, brokers, and property professionals. Building, Design & Construction Magazine | The Choice of Industry Professionals
“We are delighted to have been awarded a provisional funding allocation of £12.3 million from the Warm Homes: Social Housing Fund Wave 3 and look forward to collaborating with colleagues from the Department for Energy Security and Net Zero in the coming weeks to launch this vital project. Over the next three years, this initiative will retrofit hundreds of homes for older people, improving the properties’ energy efficiency to an EPC band C, while enhancing comfort and affordability for our residents. This project builds upon the success of our previous work with the Social Housing Decarbonisation Fund Wave 2.1, delivered in partnership with our Greener Futures Partnership colleagues. We are eager to continue working alongside our peers, supply chain partners, and, most importantly, our residents, to create warmer, lower-carbon homes nationwide. We look forward to sharing further details with colleagues, residents, and stakeholders as the project details are finalised.” Building, Design & Construction Magazine | The Choice of Industry Professionals
The future of decarbonised home heating is upon us and is already being rolled out across the UK with some of the country’s largest housebuilders – with the latest housing development benefiting from the solution ‘going live’ in recent weeks. The Community Heat Hub (CHH), one of GTC’s Future Homes Standard-compliant heat network solutions, is now delivering low-carbon heat at The Gateway in Bexhill, Sussex, a vibrant housing development being delivered by Vistry Group, the UK’s leading provider of affordable mixed-tenure homes. GTC has been the chosen utility partner for housebuilders and developers across the UK for almost 30 years, delivering pioneering multi-utility infrastructure solutions to all types of new-build developments. The Community Heat Hub is one of GTC’s low carbon heat network solutions that answers the Future Homes Standard by reducing carbon emissions by 75-80% from day one, combing the two FHS notional specifications of heat pumps and heat networks in one future-proofed, net zero solution. Vistry contracted GTC to deliver heat via its innovative Community Heat Hub to The Gateway in Bexhill, alongside electric, fibre, water, and wastewater. Once fully built the scheme will provide 801 high-quality mixed-tenure new homes, a primary school, community centre and sports pavilion connected to the low carbon solution. GTC commissioned The Gateway Community Heat Hub in late February and first homeowners moved in on February 24th. This is the UK’s second Community Heat Hub to be commissioned since its launch, with more contracted across the country being delivered in the coming months. The Community Heat Hub at The Gateway is estimated to save around 850 tonnes of carbon dioxide emissions annually in comparison to individual gas boilers in homes. John Marsh, Chief Operating Officer at GTC said: “Home decarbonisation is top of the agenda right now and The Gateway at Bexhill is a brilliant example of how low carbon heat can be delivered into new homes. The forthcoming end of gas means decarbonisation is no longer optional. Working with housebuilders, like Vistry, who want to showcase compliance and sustainability excellence is always a pleasure, and to be able to offer a solution that meets forthcoming Standards is credit to the skills and expertise of the GTC team.” Brendan Evans, Managing Director at Vistry Kent said: “Vistry is committed to delivering sustainable long-term communities that provide the mix of high-quality new homes that residents need. Collaborating with like-minded organisations like GTC is essential to help us deliver innovative solutions that meet important decarbonisation standards while helping to fulfil the UK’s chronic need for new housing.” Building, Design & Construction Magazine | The Choice of Industry Professionals
