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STRATEGY
Project Thistle

Project Thistle at a glance

Thistle was the first professionally managed single-family housing (SFH) portfolio of scale in the UK.

After a successful hold period, an exit was achieved to Goldman Sachs, exceeding prescribed return hurdles and establishing Gatehouse Investment Management as a market leader in the SFH sector.

Projectthistle

918

Homes

15

Neighbourhoods

£150m

Transaction

99.8%

Occupancy

A proud moment for Gatehouse

In April 2022, Gatehouse were awarded with “Deal of the Year Winner” by the Insider Residential Property Awards 2022 (North West) for Project Thistle.

“The disposal of Project Thistle is the first significant stabilised single family housing deal to ever transact, marking the institutional demand for rented family housing, which will be a key theme in the UK property market over the coming years”

Peter Burns, Managing Director, UK Capital Markets, CBRE.

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Project Thistle timeline

Fully funded c.£110m total investment

2015
2017

Completed c.£8.3m contracted gross rent as of H1 2020

c.£150m disposal

2021

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UK PRS II

UK PRS II

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