PRS/Build to Rent
Gatehouse successfully completed its initial £100m Private Rented Sector (PRS) investment, named Thistle, between November 2014 and February 2017. This created a portfolio of 918 new rental homes, let across 15 sites in Greater Manchester and Merseyside.
The ground-breaking joint venture created one of the first large scale PRS portfolios of single-family homes in the UK.
Thistle was sold to Goldman Sachs in January 2021 for a total consideration of c.£150m in what was the largest deal of its kind in the UK at the time.
Gatehouse embarked on the second phase of its PRS investment in December 2015, having successfully raised a further £100m investment. This portfolio, named DifRent, comprises of 750 fully let homes across Greater Manchester, Merseyside and the West Midlands.
The bank has launched its third Build to Rent venture in a £500m partnership with TPG Real Estate Partners to enable construction of up to 2,500 suburban, purpose-built family rental homes across the North and Midlands. This venture has already secured a portfolio of sites, acquired in partnership with a number of leading housebuilders.
Gatehouse Build to Rent Group manages our build to rent operations through our subsidiary companies Gatehouse Investment Management and Ascend Properties.