Gatehouse bolsters BTR portfolio with Bolton buy 

Currently being built by Bellway, the 71 homes form part of Rivington Chase, the £262m redevelopment of the Horwich Loco Works. 

Gatehouse Investment Management has unconditionally exchanged on the acquisition of the properties for its UK PRS single-family build-to-rent portfolio, which is backed by the Kuwait Investment Authority.

The purchase takes the total number of homes in the portfolio to 820. 

Operated under Gatehouse’s DifRent brand, the build-to-rent portfolio features properties across 10 sites in Greater Manchester, Merseyside, and the West Midlands. 

Construction of the Horwich homes, a mix of two- and three-bedrooms with Bellway’s Barton Quarter, is expected to complete in early 2026.  

Upon completion, all of the homes Gatehouse has acquired at Barton Quarter will have an EPC rating of ‘B’ or higher and will be managed by Ascend Properties. 

John Coles, head of acquisitions at Gatehouse IM, said: “UK PRS has long been at the vanguard of the SFBTR sector, and these new acquisitions underline the ongoing appetite to bring new locations into the portfolio. 

“Bellway has a strong track record in delivering high-quality family homes, with Barton Quarter having all the hallmarks of a UK PRS site: robust local demand, strong local employment sources, access to vital infrastructure such as schools and hospitals, and excellent transport links.”  

Gatehouse recently refinanced its SFBTR portfolio to the tune of £78m. The facility, provided by Legal & General, was secured to enable the investor to improve the sustainability of its assets and provide headroom for expansion. 

George Stevenson, land director at Bellway Homes Manchester, added: “Careful planning has gone into these proposals to create a high-quality, sustainable neighbourhood with designs that reflect the history and heritage of the site.   

“Rivington Chase is a truly special development that is transforming a derelict brownfield site into a neighbourhood that celebrates the history and heritage of the loco works and provides a destination for local people and we are delighted to have reached this agreement with Gatehouse Investment Management to provide energy efficient homes.”