Royal London Asset Management (RLAM), the fund management arm of the United Kingdom’s largest pensions and investment mutual, has entered the U.K. single-family housing market via the RLAM Living Fund with the forward-funding of a 284-home living scheme on Riverpark Road in Manchester. The acquisition is a significant milestone in the fund’s build-to-rent strategy, growing its portfolio to nearly 1,250 units.
In partnership with housebuilder Kellen Homes, the forward-fund will deliver 111 single-family homes and 173 low-rise apartments at the Riverpark development. The high-specification homes are close to Etihad Stadium, Co-Op Live Arena and the National Cycling Centre, and served by several local bus routes.
The scheme follows previous acquisitions in locations including Slough, Bracknell, Barking and Watford, bringing the fund’s total portfolio to 1,246 units, with residential commitments now surpassing £530 million ($707 million).
The homes will be op
