STAGE 2 FORWARD PURCHASE OPPORTUNITY- UPDATE TO EXECUTIVE DECISION DATED 4 NOVEMBER 2024
January 13, 2025 Chief Executive of the Greater Manchester Pension Fund (Officer) Approved View on council websiteThis summary is generated by AI from the council’s published record and supporting documents. Check the full council record and source link before relying on it.
Summary
...to proceed with a forward commitment agreement to purchase a 114-unit build-to-rent apartment development in a town centre for up to £19.3m, and simultaneously enter into a 25-year lease agreement with a housing provider.
Full council record
Content
DETERMINED that in relation to the 3% allocation to
Greater Manchester Property Venture Fund, approved by Panel on 19 July 2024, for GMPF to enter into a
forward commitment agreement, to purchase a 114 unit BTR apartment
development in a town centre location for up to
£19.3m. Simultaneously, GMPF will
enter into an agreement for a 25 year lease over the built homes
with a suitably experienced housing provider.
Supporting Documents
Details
| Outcome | Recommendations Approved |
| Decision date | 13 Jan 2025 |