Rund is providing pre- and post-contract technical due diligence, principal consultant and clerk of works services on BTR schemes in Manchester and Basildon worth more than £500m.
The appointment represents repeat business for Rund, which is already working for Starlight on four of its other UK investments.
The first Manchester BTR development is Trinity Island, a 60-storey, 532-unit residential tower currently under construction in the Castlefield conservation area on the bank of the River Irwell. The second Manchester property is a 40-storey, 517-unit residential block in the Greengate neighbourhood.
The third BTR scheme is a 492-unit three-block, mid-rise property close to Basildon train station. It is within the city’s £600m regeneration masterplan area.
Rund’s technical due diligence services provided Starlight Investments with risk assessments for the three acquisitions. Rund inspected and reported on elements, such as surveys and reports, the Building Safety Act, and operational requirements of the buildings, and establishing mitigations where necessary. Through its principal consultant services, Rund will ensure adherence to the contract, provide advice, and ensure deadlines and milestones are achieved. Rund’s clerk of works team will provide quality, fire and M&E inspections – including commissioning and testing.
These acquisitions mark a milestone in Starlight Investments’ European residential asset management platform which, together with previously announced acquisitions, will increase its UK portfolio to more than 3,300 units. This work also follows Rund’s appointment earlier this year for Starlight Investments’ BTR schemes in Dartford, Liverpool Waters, Manchester (Michigan Avenue) and Ashford. [See previous report here.]
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