Native Residential grows its Northern portfolio, winning two new significant Build to Rent neighbourhoods – Poplin in Manchester and The Gardens in Durham.
The operator has been appointed to operate and manage Poplin, a new rental living experience in Manchester that is underpinned by social impact and best in-class design. Native Residential has been appointed by alternative asset manager Cheyne Capital.
Due to open later this year, Poplin is part of Cheyne Capital’s Impact Real Estate strategy, which addresses the chronic shortage of housing solutions for under-served groups in the UK. The development is named after the material poplin, which was used to manufacture coats on the scheme’s site during the Second World War.
The Build to Rent scheme includes 144 new homes – a mix of premium one-, two- and three-bedroom apartments. With interiors designed by award-winning YOUTH, the scheme provides homes for local key workers, with 35% offered at meaningfully discounted rents, with capped rental increases offering longer term certainty for residents.
Poplin includes 3,500 sq ft of contemporary amenities including a residents’ lounge, co-working spaces, private dining room, and a communal roof terrace with a stunning view of Manchester.
“Poplin is our latest Build to Rent asset and we’re delighted to work with an operator who is as devoted to quality management and the resident experience as Native Residential. We believe they have the expertise and track record we need to create communities across the UK. This partnership will bring an exciting development to central Manchester and provide not only quality, but also affordable, rental homes in a characterful and community-centred environment.”Jack Greenhalf, Head of Development, Cheyne Capital
Durham County Council has also appointed Native Residential to operate The Gardens, the Build to Rent element of Milburngate, a 450,000 sq ft mixed-use neighbourhood with office, retail, leisure and residential space.
Located in the heart of Durham, on the banks of the River Wear, The Gardens includes 153 modern and pet-friendly Build to Rent apartments, with wider amenities including rooftop terraces overlooking Durham’s historic skyline. The scheme will welcome its first residents in spring 2023.
The wider Milburngate neighbourhood will include 230,000 sq ft of grade A office space and over 60,000 sq ft of retail and leisure space, alongside a 92 bed Premier Inn. It has been developed in a partnership between Arlington Real Estate and Richardson.
“We are very excited to have secured Poplin and The Gardens – two very important schemes, offering something unique for both Manchester and Durham. At Native Residential we pride ourselves on delivering exceptional service for our clients and we have no doubt that these new communities will thrive under our operation.”Rajiv Mehta, Director of Operations UK, Native Residential
The news of these two news wins follows Native Residential’s appointment to the Ebb&Flow Build to Rent scheme in Reading earlier this month, which will see the operator provide operational management expertise on its first phase of Build to Rent homes.