With deals in Manchester, a tech-driven landlord investor enters the UK market

MANCHESTER: A real estate investment platform that buys and oversees rental properties on behalf of institutional investors has its headquarters in Manchester. (Reported by news source)

With a number of acquisitions in the area, IMMO has announced its return to the UK market. Along with Leeds and Sheffield, the "Northern Triangle" city was selected for its excellent underlying market fundamentals and alluring risk/return profiles, which included both minimal home price volatility and high rental yields.

These initial purchases are a part of the company's intentions to invest about £1 billion to purchase and renovate at least 3,000 rental properties throughout the UK by 2024.

Rightmove recently named Manchester as a "hotspot" for rental price growth, with average asking rentals in the city rising 20.5% in the year leading up to the third quarter of 2022.

By buying individual, dispersed properties on behalf of institutional investors like pension funds and insurers, IMMO aggregates private rental portfolios using artificial intelligence and its own unique technologies.