UK: Apache Capital has appointed Jack Hughes as general manager for Present Made of Eddington – the first development of Apache’s SFR platform Present Made.
In his new role, Hughes will oversee all aspects of the development’s operations once the scheme reaches full practical completion.
He has a background working in the operational living sector in Cambridge through his previous role as GM at The Cam Foundry for aparto student, the European student accommodation brand of global real estate investment manager Hines. There, he oversaw the day-to-day site operations and supported with new site mobilisations across Europe.
Present Made of Eddington will comprise 373 BTR homes – including the UK’s first family houses to be designed and built exclusively for rent – and forms part of the University of Cambridge’s 150-hectare Northwest Cambridge masterplan.
Amenities include a communal pavilion, gym, yoga studio, private dining room, bike café, games room, cinema and co-working space.
Present Made of Eddington will be Cambridge’s first purpose-built and designed rental housing development with on-site professional management and amenity provision.
The wider masterplan includes 3,000 homes of which 50 per cent are for university key workers as affordable housing, 2,000 student beds, 100,000 square metres of employment space and 5,300 square metres of retail.
“This as an incredible opportunity to play a leading role in the launch and ongoing operations of a truly unique housing development. Combining my own background with Apache Capital’s experience in operating purpose-built student accommodation and prime multifamily, we will look to deliver a first-class experience for the residents of Present Made of Eddington,” said Hughes.
Alan Penfold, managing director of Present Made, said: “Jack will play an important role in ensuring that the hospitality-like service that defined our prime multifamily strategy is replicated at our flagship single-family development. Residents at Present Made of Eddington will benefit from living in a secure, modern, and sustainable neighbourhood with a first-of-its-kind amenity and service offering in Cambridge, helping raise standards in the local rental market.”
Present Made of Eddington has been funded through a partnership between Nuveen Real Estate and Apache Capital, with debt finance coming from BGO. Construction works started earlier this year, with the first homes set to be ready for move-in in early 2025.
