Chimney Pot Park, Urban Splash, p Cubed Thinking

Chimney Pot Park is one of the assets acquired by the Urban Splash Residential Fund. Credit: via Cubed Thinking

Urban Splash invests £15m in portfolio expansion

The regeneration company has purchased 67 fully-occupied homes across Manchester and Salford.

The Urban Splash Residential Fund has invested £15m in off-market acquisitions, expanding the number of homes in its portfolio by 41% to 437.

Acquisitions include terraced homes at Chimney Pot Park in Salford, as well as a number of apartments at 3Towers in Manchester.

These recent purchases add £1.3m of income to the fund’s rent roll and follow the signing of a £20m revolving credit facility with Barclays.

Fund manager Akeel Malik said: “2023 has been a significant year of growth for us; we are moving forward with acquisitions and offering more people the chance to live in brilliantly designed homes in cities across the country.

“We are focusing on off-market higher yielding acquisitions in the current macroeconomic environment, whilst preserving rent-to-income levels of less than 30% for our residents (currently 22%)”.

Among this wave of acquisitions, the company also acquired 112 apartments at East Street Mills in Leeds.

The Urban Splash Residential Fund was established in June 2017 to acquire design-led homes in urban regeneration areas across the UK. So far, the fund has acquired sites across the North West in Prestwich, New Islington in Manchester, and Altrincham.

Malik said: “Our portfolio of differentiated homes is well positioned for modern living with flexible, spacious interiors, access to outdoor spaces, and strong connectivity.

“We remain committed to offering residents well-designed mid-market homes, at rental levels that preserve an average rent-to-income ratio of <30%.”

Gorvins acted on behalf of the fund. Pinsent Masons acted on behalf of the vendors.

Your Comments

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These guys used to be upstarts and create value. Now they’re just big money rentiers.

By Sceptic


I agree. The innovators now are Capital & Centric and smaller firms like Novo.


I thought they originally built Chimney Pot

By Liz B

I wish they’d come to Denton and show how good a block of terraces could be with the right owners. We have Bridge terrace, dated 1849 going to wrack and ruin because of slum landlords when it could be a fantastic block of terraces in what I’d fast becoming a great town to dine in due to Ornellas Kitchen and Cafe plus etc;

By Chrissie

What are the grey things on the roof?
(really detract from the terrace)

By MrP

The grey things on the roof are roof lights. They let light in to the ground floor.


Shouldn’t this article be entitled “Urban Splash moves £15m of assets from one part of the business to another”? Chimney Pot Park and 3Towers are schemes US developed and retained units that couldn’t sell during the crash.

By Ardy

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