Round Hill Capital and Olympian Homes JV to deliver Manchester BTR

Round Hill Capital celebrates 20th anniversary with £165m flagship Build to Rent investment in Manchester with Olympian Homes.

Street level view of the flagship BTR scheme in Manchester, which will be delivered by a joint venture between Round Hill Capital and Olympian Homes | BTR News
Street level view of the flagship Build to Rent scheme in Manchester, which will be delivered by a joint venture between Round Hill Capital and Olympian Homes.

Global real estate investor and manager Round Hill Capital partners with British developer, Olympian Homes to deliver a flagship Build to Rent scheme in central Manchester. The £165m forward funding is the first of many forward funded investments in the pipeline. The joint venture with Olympian Homes, a specialist developer of large-scale Build to Rent and purpose-built student accommodation (PBSA), will be forward funded on a fixed price development contract. 

The transaction also marks Round Hill Capital’s 20th anniversary year, as the firm looks to strengthen partnerships and capitalise on growing investor appetite and consumer demand for quality Build to Rent assets in major UK cities.

“We are excited to be announcing our Build to Rent investment with Olympian Homes, an exemplary developer with outstanding track record, and together we will create a flagship asset in the UK. Our exceptional investment, development and property management expertise, authentic local perspective and deep market insights help us to identify strong regional UK cities such as Manchester, and will allow us to unlock further opportunities in the coming months and years.”

Tom France, Head of UK Investment, Round Hill Capital
What the new Build to Rent development in Manchester will look like | BTR News
What the new Build to Rent development in Manchester will look like.

Benefitting from Round Hill Capital’s 20 years of residential and PBSA success across Europe, the investment is set to continue to build momentum for the firm as a leading pan-European residential specialist. 

“This is a milestone investment for Round Hill Capital in our 20th anniversary year and draws on our success in the residential and PBSA markets across the continent to create innovative accommodation solutions. Addressing a major supply/demand imbalance in a thriving city with strong capital growth prospects, this flagship project in Manchester demonstrates our ability to identify intelligent investment opportunities and high performing sectors across Europe with valued partners.”

Michael Bickford, Founder and CEO, Round Hill Capital

The new Manchester scheme will deliver 488 Build to Rent homes and will serve as a gateway to the Portugal Street East masterplan regeneration area in the Northern Powerhouse city, which is benefitting from investment into the HS2 train service. The development will also address the significant supply/demand imbalance for quality Build to Rent housing in the Northern Powerhouse. Construction is due to start in August 2022, with completion targeted for Spring 2025. 

Amenity space at the new Build to Rent scheme in Manchester | BTR News
Amenity space at the new Build to Rent scheme.

“We are looking forward to working with Round Hill Capital on this new Build to Rent development. We will utilise our skillset of acquiring land and developing efficiently, to institutional specifications, to ensure the successful delivery of this asset.

“We have built a strong relationship with Round Hill Capital whilst securing this deal and hope to continue to work alongside one another in the future. Manchester is a flourishing city with a great pipeline of opportunities, this new development will help manage the supply/demand imbalance in the area by providing residents with high quality accommodation in a city centre location complemented by excellent transport links.”

James Lindridge, Development Director, Olympian Homes

The scheme is targeted to a wide demographic of young professionals, families and students. Residents will benefit from being close to city centre amenities – as well as next to Piccadilly Station – the largest train station in the city offering excellent transport links. 

“We are very pleased to have achieved this major milestone, being our first Build to Rent scheme, we have benefitted from Round Hill Capital’s great deal of experience and understanding, they have proved to be excellent partners. We are also grateful to Manchester City Council, Transport for Great Manchester, HS2 and Aecom Capital for working closely with us to make this challenging project a reality.”

Mark Slatter, Founder and Chairman at Olympian Homes