Invesco Real Estate has made a forward commitment to acquire a 109-unit UK residential asset in a £40m (€45m) deal on behalf of one of its German separate account mandates.
Invesco is investing to acquire two self-contained residential buildings within Cambridge’s Marleigh Park masterplan, being developed by housebuilder Hill Group.
The first building is expected to be completed by the end of 2025, while the second building is scheduled for handover in the third quarter of 2026.
Marleigh Park, an urban development on the eastern edge of Cambridge, is expected to deliver 1,391 new homes, community infrastructure and green space to form a self-contained neighbourhood.
Andy Hill, founder and group CEO of The Hill Group, said: “It’s fantastic to be partnering with Invesco and Savills to bring build-to-rent homes to Marleigh Park. The development has already proven hugely popular in Cambridge, and I’m confident these new apartments will provide another great housing option for those looking to be part of this thriving community.”
Amelia Merrick, investments director for the UK and Nordics at Invesco Real Estate, said: “Cambridge has become one of the UK’s most in-demand and dynamic residential markets, underpinned by its world-class university ecosystem, thriving innovation economy and strong population growth.
“We are delighted to partner with Hill on Marleigh Park – a development that combines placemaking, design quality and sustainability in a location with enduring demand, delivering a compelling opportunity for our client.”
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