RLAM enters single‑family housing market with forward‑funding of Manchester scheme

Royal London Asset Management (RLAM) has entered the single‑family housing market through the RLAM Living Fund, forward‑funding a 284‑home scheme on Riverpark Road in Manchester. 

Riverpark road development. Credit: Ambiente

The acquisition grows the fund’s build‑to‑rent portfolio to nearly 1,250 units and marks a significant milestone in its expansion strategy.

Delivered in partnership with North West housebuilder Kellen Homes, the Riverpark development will comprise 111 single‑family homes and 173 low‑rise apartments. The high‑specification homes are located close to the Etihad Stadium, Co‑Op Live Arena and the National Cycling Centre, and benefit from multiple local transport links.

The project marks the first development within the ProperTies Northwest Hub, part of a regional expansion strategy targeting suburban and commuter towns across the UK. Completion of the Riverpark scheme is expected in Q3 2028, with leasing scheduled to begin in Q3 2027.

Paul Ruston, Living fund manager at RLAM, said: “Our long‑term investment approach, combined with a vertically aligned model that enables close operational oversight, means we are well placed to support the continued growth of this emerging segment of the housing market. Greater Manchester was a natural choice of location to enter this market, combining acute housing undersupply with strong demand for attainable, family‑sized rental homes.”

Charlie Miller, Director of Transactions at ProperTies Living, said: “Riverpark brings our resident‑first offer developed in the BTR sector to the single‑family market, delivering the high‑quality, professionally managed homes the region desperately needs. We plan to grow our Northwest footprint through a dedicated regional hub.”

Ian Kelley, Chief Executive at Kellen Homes, added: “We are delighted to be partnering with Royal London Asset Management and ProperTies Living to bring forward these quality rental homes offering people a flexible way to access housing in this well‑connected area of Manchester.”JLL advised Kellen Homes.