Press Mentions

A new generation of operators calls for better standards in workspace

Back in June, the ONS reported that 37% of operational businesses at the time expected their workforces to have returned to normal working environments by the end of August 2021.

Singaporean hotels investor enters UK BTR

Singapore’s CDL Hospitality Trust has agreed its first investment into UK build-to-rent with a £73.3m deal for Fiera Real Estate and Packaged Living’s The Castings in Manchester.

CDL Hospitality Trusts enters UK BTR sector

Singapore-listed CDL Hospitality Trusts (CDLHT) has entered into a land purchase agreement and a development funding agreement to invest into a residential build-to-rent (BTR) forward-funding scheme in Manchester, UK for a purchase consideration of £73.3 million (S$136.0 million). CDL Hospitality Trusts said this transaction is a forward-funding arrangement which allows CDLHT to invest in a residential BTR property at a fixed-cost, with cash flows managed over the duration of development.

Singapore investors make £78m deal on The Castings

CDL Hospitality Trusts has bought the land and agreed to fund the development of the 25-storey Manchester apartment building from Packaged Living and Fiera Real Estate. CDLHT spent £9.5m to acquire the land on the south-east side of Longacre Street in Piccadilly East.

Singaporean investor enters UK’s build-to-rent sector with £73m Manchester deal

Fiera and Packaged Living agree tie-up with one of Asia's biggest hospitality firms

Plans to turn former Eli Lilly HQ into warehouse revealed

Developers Wrenbridge are consulting on turning Lilly House, off Priestley Road in Rooksdown, into a new net carbon zero warehouse. The project, if approved by planners, will see a £50 million investment in Basingstoke and Deane and 250-500 new jobs created, with the "vast majority" going to local people. American pharmaceutical giant Eli Lilly, synonymous with Basingstoke, are vacating their former home on Priestly Road for new offices in Basing View, funded partly by the borough council.

CDL Hospitality Trusts executes revised plan, invests in UK BTR

A listed hospitality real estate investment trust (REIT) owned by Singapore-based CDL is investing in a UK build-to-rent (BTR) project as part of a new strategy. CDL Hospitality Trusts (CDLHT), which operates mostly hotels, has bought a site in Manchester and will forward fund its redevelopment into a £73.3m (€85m) apartment complex. The Castings project, which will have 352 apartments, is expected to be completed by 2024. The transaction paves trust’s entry into the UK BTR market, and more significantly, pivots away from hotels into “adjacent lodging space”.

FUNDING AGREEMENT FOR 352-UNIT CITY CENTRE SCHEME

A forward funding agreement has been secured for a 25 storey 352 unit build-to-rent scheme in Manchester city centre. The development, which will be known as "The Castings", has a GDV of more than £73m and is due to be completed in the second quarter of 2024. Fiera Real Estate and Packaged Living secured the forward funding agreement for the scheme on Heyrod Street, Piccadilly East in Manchester to CDL Hospitality Trusts.

CDL Hospitality Trusts enters UK’s build-to-rent sector with S$136m investment

CDL Hospitality Trusts (CDLHT) announced on Tuesday that it has entered into a land-purchase agreement and a development-funding agreement to invest in a build-to-rent (BTR) residential property in Manchester, United Kingdom, for a purchase consideration of £73.3 million (S$136 million). This is in line with CDLHT's strategy to strengthen its rental income base and boost its portfolio diversification.

CDLHT forward-funds Packaged Living BTR scheme in £73m deal

CDL Hospitality Trusts (CDLHT) has forward-funded a Packaged Living build-to-rent (BTR) scheme in Manchester in a £73m deal.