Urban Splash completes £28m worth of deals

The Urban Splash Residential Fund recently announced that deals worth £28 million have been completed in the first quarter of 2022.

A range of acquisitions around England have been acquired since 2018. The company is already close to its target as it aims to develop a portfolio worth £3 billion within 10 years.

Urban Splash acquisitions - where are they found?

Across Cambridge, Altrincham and Manchester city centre, there are 81 newly acquired homes that include 40 houses and 41 apartments.

All homes obtained are 'guaranteed to meet the desires of today’s eco-conscious renters' as they are fully electric with strong energy efficiency credentials.

In addition to this, the homes acquired in Manchester city centre are located in the award-winning New Islington neighbourhood.

The residential fund also enabled the acquisition of a portfolio of apartments for the canal-side scheme. The architects who designed these apartments are well-renowned practice Foster + Partners.

According to the fund’s latest annual results, there has been a 48% increase in turnover and occupancy levels of 98%.

Fund manager Akeel Malik explains: “We are on an ambitious growth trajectory as we strive to expand our portfolio to £3bn valuation within the next 10 years. We are leveraging existing relationships to quickly scale up, bringing more fantastic architecture and well-designed homes into our portfolio as we look to deploy our £150m of existing investor equity commitments.

“Coupled with consistently high occupancy levels and growing rental demand, our portfolio is well-positioned and we are immensely proud of what we have achieved in the past three years, especially given the challenging macro-economic and social circumstances brought about by the pandemic.

“We will continue to build momentum by securing the future pipeline through Urban Splash Group companies, joint ventures, and other third party partners, sourcing new acquisitions and above all managing our investments to deliver consistent returns for our investors.”