Gatehouse Bank Sells England BTR Portfolio to Goldman Sachs and Pitmore

Posted on 01/09/2021

Gatehouse Bank PLC is a UK regulated bank, based in Mayfair, London. Gatehouse Bank plc is a Shariah-compliant challenger bank based in London and is part of the Gatehouse Financial Group of companies. The bank sold its Thistle Build to Rent (BTR) property portfolio to Goldman Sachs Merchant Banking Division and London-based real estate company Pitmore for about £150 million. The portfolio is made up of 918 units on 15 sites across the Northwest, predominantly the Greater Manchester and Liverpool areas.

Thistle Build to Rent is a single-family home, private rental sector fund launched in 2014, is a joint venture between challenger bank Gatehouse and Sigma Capital Group with a total investment in the region of £110 million.

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