The Greater Manchester Pension Fund (GMPF) has committed £20 million to a major build-to-rent development at the heart of Trafford’s 55-acre civic quarter masterplan, close to the Manchester United and Lancashire Cricket Club stadiums.
The 440-home project—known as Podium at Lumina Village—is being delivered by developer Glenbrook with Domis Construction as main contractor. A wider masterplan will ultimately provide up to 4,000 homes, new public realm and green space, plus 500,000 sq ft of commercial space.
GMPF, which provides pensions and benefits to more than 400,000 members, has entered a 50/50 joint venture with Moorfield Real Estate Fund. The scheme carries a gross development value of £120 million. Trafford Council is supporting the deal with a £40 million loan.
Construction began early in 2024 following a funding agreement between Glenbrook and Moorfield, with the first phase scheduled for completion in summer 2026.
Separate from the wider TraffordCity regeneration—which includes plans for a new 100,000-seat Manchester United stadium—the Podium development will feature:
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440 homes across four buildings and a central podium
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A mix of apartments and townhouses for young professionals and families
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Ground- and podium-level amenities including resident lounges, reception areas, co-working space, a gym and studio, a roof terrace, cycle storage, and a 200-space car park
Cllr Eleanor Wills, chair of GMPF and executive leader of Tameside Council, said:
“I am proud that the GMPF, alongside Moorfield, GMCA and Trafford Council, is supporting the provision of high-quality mid-market rental housing in Greater Manchester.
“The strategy supports the government’s plan to provide much-needed homes that are affordable to young families and first-time renters, while enabling us to secure the pensions of our members.”
Charles Ferguson-Davie, chief investment officer at Moorfield Group, added:
“Our joint venture with GMPF partners us with a forward-thinking UK institutional investor who understands the long-term benefits that high-quality, purpose-built rental housing can bring to local communities and economies.
“This transaction enables us to recycle capital into other compelling opportunities within UK living real estate. There is a long-standing structural demand-supply imbalance, and a need for new housing of different tenures and typologies.”
The investment was made through the Greater Manchester Property Venture Fund, advised by property company CBRE.
Colin Thomasson, CBRE’s head of UK investment properties, said:
“Demand–supply dynamics in the UK housing market continue to favour the build-to-rent sector with both domestic and global institutional investors, and we are delighted to have played a pivotal role in the partnership between Moorfield and GMPF.”
