Moorfield Group, a real-estate fund manager in the UK, has partnered with Greater Manchester Pension Fund (GMPF) to develop a 440-home build-to-rent (BtR) project in Trafford, Greater Manchester.
Dubbed Podium, the project is being funded through GMPF's Greater Manchester Property Venture Fund, with CBRE serving as the advisor.
The £120m ($160.35m) project will be executed by developer Glenbrook and main contractor Domis Construction.
The project's first phase is expected to conclude by the second quarter (Q2) of 2026.
The development will feature four buildings and a central podium, offering a mix of apartments and townhouses designed for young professionals and families.
Residents will have access to various amenities, including lounges, co-working spaces, a gym, a roof terrace, cycle storage, and a 200-space car park.
Moorfield and Glenbrook have entered into an environmental, social, and governance-linked development agreement that incorporates a range of decarbonisation initiatives.
Specifically, the project aims to achieve significant sustainability goals, including ensuring that at least 95% of homes attain a minimum energy performance certificate B rating.
Additional sustainability measures include using recycled building materials, photovoltaic roofing, electric vehicle charging points, and biodiversity enhancements.
Podium is part of the broader Lumina Village and the Trafford Civic Quarter master plan, which aims to deliver up to 4,000 new homes, public spaces, and over 500,000ft² of commercial space.
The site is located near Manchester United's Old Trafford football stadium and the Old Trafford cricket ground.
This project marks Moorfield's third BtR investment in Manchester, following previous developments in Castlefield and Salford Quays.
Moorfield Group co-CEO and chief investment officer Charles Ferguson-Davie said: “Our joint venture with Greater Manchester Pension Fund sees us partner with a forward-thinking UK institutional investor who understand the long-term benefits high-quality purpose-built rental housing can bring to local communities and economies.”
GMPF chair and Administering Authority (Tameside) executive leader Eleanor Wills said: “I am proud that the Greater Manchester Pension Fund, alongside Moorfield, GMCA [Greater Manchester Combined Authority] and Trafford Council, is supporting the provision of high-quality mid-market rental housing in Greater Manchester.”
