Key Takeaways
- • Moorfield Group and Greater Manchester Pension Fund (GMPF) have completed the first phase of Podium, a £120 million build-to-rent development in Trafford, Greater Manchester, delivering 440 rental homes across four buildings by Q2 2026.
- • GMPF invested £20 million into the scheme through its Greater Manchester Property Venture Fund, advised by CBRE, as part of a forward funding agreement with developer Glenbrook and contractor Domis Construction.
- • The development targets young professionals and families with a mixed housing portfolio (apartments and townhouses) and amenities including co-working spaces, gyms, fitness studios, roof terraces, and a 200-space car park, plus Manchester's largest communal green space for a BTR scheme.
- • Podium forms part of Trafford's 55-acre Civic Quarter masterplan (Lumina Village), which aims to deliver up to 4,000 homes alongside public realm and over 500,000 square feet of commercial space, positioning the scheme within a major urban regeneration initiative.
- • The project incorporates ESG-linked sustainability targets, with over 95% of homes meeting EPC B standards, full electrification, recycled materials, photovoltaic roofing, and net zero operational carbon objectives as part of a decarbonisation agreement between Moorfield and Glenbrook.
Summary
Moorfield Group and Greater Manchester Pension Fund have delivered the first phase of Podium, a £120 million build-to-rent asset in Trafford, Greater Manchester. The 440-home development, constructed by Domis Construction on behalf of developer Glenbrook, reached completion in Q2 2026 following site mobilization in Q1 2024. GMPF's £20 million equity investment was executed through its Greater Manchester Property Venture Fund, with CBRE serving as investment advisor, establishing a joint venture structure for development, ownership, and long-term asset management.
The scheme delivers a mixed residential portfolio across four buildings clustered around a central podium, offering a combination of apartments and townhouses explicitly targeted at young professionals and families seeking mid-market rental accommodation. Residents benefit from extensive on-site amenities positioned at ground and podium levels, including resident lounges, reception areas, co-working facilities, a gym and fitness studio, roof terrace, 200-space car park, and cycle storage. Notably, the development incorporates what sources identify as Manchester's largest communal landscaped green space within any build-to-rent scheme, addressing emerging investor and occupier preferences for enhanced outdoor amenities.
Podium integrates material ESG commitments through a formally executed decarbonisation agreement between Moorfield and Glenbrook. Sustainability specifications require 95% of homes to achieve EPC B energy performance standards, with operational targets aligned to net zero carbon. Construction-phase initiatives include full electrification, incorporation of recycled building materials, photovoltaic roofing systems, and biodiversity enhancements—positioning the asset within the growing institutional investor focus on ESG-linked real estate outcomes.
The investment aligns with GMPF's strategic allocation toward regional housing assets, building on prior commitments to affordable housing across Greater Manchester. Cllr Eleanor Wills, Chair of GMPF, characterized the partnership as supporting government objectives to deliver mid-market housing for first-time buyers and young families while securing pension liabilities for fund members. The scheme represents Moorfield's third build-to-rent investment in Manchester, underscoring concentrated capital deployment within the regional BTR sector.
Podium operates within the broader Lumina Village and Trafford Civic Quarter masterplan, a 55-acre regeneration framework targeting delivery of up to 4,000 homes, enhanced public realm, and over 500,000 square feet of commercial space. This positioning within a large-scale mixed-use regeneration district enhances long-term asset value creation potential and provides demographic and amenity tailwinds for rental accommodation performance.
The scheme delivers a mixed residential portfolio across four buildings clustered around a central podium, offering a combination of apartments and townhouses explicitly targeted at young professionals and families seeking mid-market rental accommodation. Residents benefit from extensive on-site amenities positioned at ground and podium levels, including resident lounges, reception areas, co-working facilities, a gym and fitness studio, roof terrace, 200-space car park, and cycle storage. Notably, the development incorporates what sources identify as Manchester's largest communal landscaped green space within any build-to-rent scheme, addressing emerging investor and occupier preferences for enhanced outdoor amenities.
Podium integrates material ESG commitments through a formally executed decarbonisation agreement between Moorfield and Glenbrook. Sustainability specifications require 95% of homes to achieve EPC B energy performance standards, with operational targets aligned to net zero carbon. Construction-phase initiatives include full electrification, incorporation of recycled building materials, photovoltaic roofing systems, and biodiversity enhancements—positioning the asset within the growing institutional investor focus on ESG-linked real estate outcomes.
The investment aligns with GMPF's strategic allocation toward regional housing assets, building on prior commitments to affordable housing across Greater Manchester. Cllr Eleanor Wills, Chair of GMPF, characterized the partnership as supporting government objectives to deliver mid-market housing for first-time buyers and young families while securing pension liabilities for fund members. The scheme represents Moorfield's third build-to-rent investment in Manchester, underscoring concentrated capital deployment within the regional BTR sector.
Podium operates within the broader Lumina Village and Trafford Civic Quarter masterplan, a 55-acre regeneration framework targeting delivery of up to 4,000 homes, enhanced public realm, and over 500,000 square feet of commercial space. This positioning within a large-scale mixed-use regeneration district enhances long-term asset value creation potential and provides demographic and amenity tailwinds for rental accommodation performance.
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