The Subplot | Senior living, big money from Bolton
11 May 2021, 09:00Comments (0)
Welcome to
Place North West.
THIS WEEK
The Generation Game: North West developers and investors are looking for ways to make mixed-age and senior living BTR a commercial success.
Family Money: Bolton-based Pitalia Real Estate lines up £180m deals, including a monster subject-to-planning buy. What is its strategy?
Chasing Yields: at what point do urban logistics yields get silly?
SENIOR MOMENT
The big opportunity in later life property
Moorfield Group, well known for its Manchester and Salford build-to-rent investments, is now edging into the care-heavy end of senior living. North West developers and investors are watching.
The Subplot | Birkenhead, Liverpool offices, student housing
6 Apr 2021, 09:00Comments (1)
Welcome to
Place North West.
THIS WEEK
Birkenhead’s new 2040 Framework promises 21,000 new homes, but it means some brave decisions by Wirral Council. Has it got the bottle?
The Liverpool office market has hit the bottom. And that means the only way is up.
A variation on student housing is heading for Lancaster and Liverpool.
EYE-ROLL ACROSS THE MERSEY
Birkenhead’s Big Chance
Birkenhead’s new strategy document means less reliance on Peel’s Wirral Waters, a lot more realism, and a serious effort to unlock residential markets by 2040. Can it work?
Message
Build to Rent (BTR) has been a growing trend in the UK for a number of years, but what about in the Republic of Ireland?
“It’s certainly a growing sector in Ireland and not quite as established as in the UK,” says Hannah Taylor, who manages the investment division across Europe at deverellsmith, and has experience of recruitment and strategic consultancy across the UK and European BTR markets.
“We find that when sourcing candidates for BTR roles in Ireland, it’s a much smaller pool of candidates with the relevant years of experience in the BTR space. It’s definitely an equally exciting sector as in the UK, and one which many of our Ireland-based candidates are keen to move into and learn more about.”
Moorfield Group, the UK-focused real estate fund manager, on behalf of one of their funds, has bought four single-tenant logistics assets totaling 205,322 sq ft, in three separate transactions. Located across the South East, the combined purchase price of these sites totals £25 million.
The yield of 7% is considerably above any returns offered by alternative places to invest, whether government gilts or the stock market.
In Caterham, Surrey, Moorfield has acquired an 84,048 sq ft distribution warehouse with an adjoining 3,500 sq ft roadside factory outlet. The property, previously owned by Gold Group International Limited, is let to Ann Summers, on a 13 year lease, expiring in 2032, with the warehouse serving as its key UK distribution hub and global headquarters.