London-based Gatehouse Bank has announced a further investment of £100 mln (€138 mln) to develop a portfolio of private rented sector (PRS) homes across select markets in the UK.
London-based Gatehouse Bank has announced a further investment of £100 mln (€138 mln) to develop a portfolio of private rented sector (PRS) homes across select markets in the UK.
Gatehouse has a PRS partnership with Sigma Capital Group, a UK-listed residential and urban regeneration specialist. The target markets include Merseyside, Manchester and Birmingham.
Gatehouse is predominantly owned by institutional and sovereign shareholders from the State of Kuwait, and Gatehouse’s investment activities in PRS include significant support from the Kuwait Investment Authority.
This investment is Gatehouse's second PRS initiative and follows its investment in a £110 mln programme to build in excess of 900 homes in Greater Manchester and Merseyside, which Gatehouse launched with Sigma in the second half of 2014. The first programme is ahead of schedule, both in terms of construction and occupancy, and demonstrates Gatehouse and Sigma’s ability to deliver much-needed PRS housing to communities in the UK.