Invesco Real Estate has agreed a deal to acquire a 109-unit build-to-rent (BTR) asset at the Marleigh Park development in Cambridge from The Hill Group for circa £40m.
The acquisition, which comprises two self-contained buildings, has been undertaken on behalf of one of Invesco Real Estate’s German separate account mandates.
The first building, totalling 32 units, is expected to complete by the end of 2025, while the second, 77-unit building is scheduled for handover in Q3 2026.
Once complete, the Marleigh Park development, which is situated on the eastern edge of Cambridge, is expected to feature 1,391 new homes alongside community infrastructure and extensive green space.
Andy Hill OBE, founder and group chief executive of The Hill Group, said: “It’s fantastic to be partnering with Invesco and Savills to bring build-to-rent homes to Marleigh Park. The development has already proven hugely popular in Cambridge, and I’m confident these new apartments will provide another great housing option for those looking to be part of this thriving community.”
Amelia Merrick, director investments UK and Nordics at Invesco Real Estate, added: “Cambridge has become one of the UK’s most in-demand and dynamic residential markets, underpinned by its world-class university ecosystem, thriving innovation economy and strong population growth. We are delighted to partner with Hill on Marleigh Park – a development that combines placemaking, design quality, and sustainability in a location with enduring demand, delivering a compelling opportunity for our client.”
The Hill Group was advised by Savills.
