Delancey Oxford Residential (DOOR), APG and Qatari Diar, working together in joint venture, have completed the forward purchase of over 800 rental homes in Greater Manchester.
Financial details were not disclosed.
The scheme, part of the Middlewood Locks development, is being developed by FairBriar International, a joint venture of Scarborough International Properties (50%) Metro Holdings of Singapore (25%) and China's Hualing Group (25%).
Get Living, the joint venture’s wholly owned residential, lettings and management platform, will take over operational responsibility for the 800 homes and associated public realm from completion of the development. The first phase of 275 homes will launch this year.
'We are very excited to be bringing Get Living to the North West on behalf of our shareholders,' said Rick de Blaby, executive chairman of Get Living.
'The location, the masterplan and the building designs at Middlewood Locks provides us with the homes and public realm that enables Get Living to deliver to residents our market-leading offer to our target residents in Manchester and Salford.'
Marking Get Living's first scheme in Manchester, the investment is in line with the venture's strategy to support the creation of large-scale residential-led developments in the UK's largest five cities.
In total, the 25-acre Middlewood Locks will provide a total of 2,215 new homes, plus 900,000 ft2 (83,600 m2) of commercial space including a hotel, gym, restaurants and retail.
