UK: Legal & General has sold the Slate Yard BTR scheme in Manchester to KKR.
The scheme is situated in Manchester’s New Bailey regeneration area, and is understood to have been sold for more than £100 million.
L&G placed the pet-friendly scheme on the market with Knight Frank in September last year, with a guide price of £110 million.
Designed by AHR Architects and constructed by Morgan Sindall Construction, The Slate Yard includes 424 BTR apartments in a mix of one-, two-, and three-bedroom units across three buildings.
Amenities at the scheme include a gym with Technogym equipment, a residents’ lounge, a private dining room, coworking spaces, 24/7 concierge services, bike storage and a pet wash facility.
KKR has been steadily building its BTR/multifamily portfolio, with acquisitions in both the UK and the US last year.
