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UK: The Greater Manchester Pension Fund (GMPF) has agreed to acquire a 114-home build-to-rent (BTR) development in Bolton for around £19 million, supporting the final phase of the town’s Moor Lane regeneration project.
The Foundry, being delivered by Step Places, will comprise a mix of one and two-bedroom apartments alongside a new linear park on the former Moor Lane bus station site.
Main contractor AEDI Construction is expected to begin work shortly, with completion targeted for early 2028.
Under the agreement, GMPF will acquire the completed development before leasing it to housing association Places for People, which will operate the scheme.
The project forms part of Bolton Council’s wider £1 billion town centre regeneration strategy, which aims to bring more residents back into the town centre through a mix of housing, commercial and mixed-use developments.
The Foundry has also received £1.3 million in funding from the Greater Manchester Combined Authority’s Brownfield Programme.
Bolton Council said the project is expected to help attract further investment into the town as demand for professionally managed rental housing continues to grow.
Highlights
- Greater Manchester Pension Fund has committed £19m to Bolton’s The Foundry development
- The build-to-rent scheme will deliver 114 apartments
- Places for People will operate the completed development
- The project forms part of Bolton’s £1bn town centre regeneration plan
- The deal highlights growing institutional interest in regional BTR schemes
