Investec Real Estate disclosed a strategic financial move by providing a three-year, £22 million investment loan to a fund managed by Realstar Group. This loan is secured against UNCLE Manchester, a centrally located multifamily residential scheme in Manchester, underscoring the continuing demand for high-quality housing in the city.

UNCLE Manchester features 171 studio and one-bedroom apartments set within a Grade II-listed former warehouse, a structure that dates back to 1914. The building has been meticulously restored to preserve its historical essence while incorporating modern, high-specification appliances and designer furnishings, making it a prime example of urban regeneration.

Sebastian Walley from Investec Real Estate remarked on the transaction, “Demand in Manchester for well located, highly amenitised rental homes continues to outstrip supply, driven by Manchester’s population growth, position as the UK’s second city and high employee retention rates. UNCLE Manchester is a great example of a regenerated asset that complements the history of the original building while delivering a high quality and much needed product that meets the needs of today’s tenants.”

This marks the first collaboration between Investec and Realstar, a noted leader in the UK’s Build-to-Rent (BTR) sector. Ryan Prince, CEO of Realstar, expressed his enthusiasm for the partnership, stating, “Cities are the heart and soul of our world and that is why Realstar continues to invest in high-quality city living. We believe that long-term, professional ownership within the residential sector is a key element for increasing housing supply in the areas that need it most.”

He added, “We are delighted to have completed our first financing with Investec and hope that this will lead to many more opportunities to work alongside their excellent team.”

This financial endorsement from Investec is expected to boost Manchester’s housing market by providing additional upscale rental options and reinforcing the city’s growth and development trajectory.