Border to Coast to invest £70m in new house building project
Author: LAPF Investments | Published: February 12, 2026
Border to Coast is set to invest more than £70m in a new house building project at Springstead Village in Cambridge.
Advised by Aberdeen Investments, the transaction will support the construction of 139 single-family rental homes – with the funding going into 93 houses and 46 apartments. The investment comes from the pool’s UK Real Estate Fund, into which 10 of Border to Coast’s partner funds have committed £2bn since October 2024.
It also marks the pool’s first investment into single-family housing.
Border to Coast’s chief investment officer Joe McDonnell said: “This is a landmark deal for our partnership.
“The UK faces a significant shortfall in quality homes to rent and our first investment in single-family housing at Springstead Village will help meet this demand, aligning social and economic value with long-term returns for partner funds in a UK growth sector.
“The investment is a clear demonstration of the power of LGPS pooling to unlock access to strong investment opportunities across the UK.
“Our UK Real Estate Fund, the largest of its kind in the LGPS, seeks to direct long-term capital into the UK, delivering stronger returns that support the efficient payment of pensions for millions of local government workers.”
Aberdeen Investments’ deputy fund manager Iain Leheny added: “A lot of the UK’s housing stock is aging and hasn’t adapted to how people live today, with the country facing a shortage of good quality, modern housing, while home ownership is also increasingly out of reach for many.
“The private rental market is a vital part of the housing ecosystem and build to rent accounts for just two percent of stock – well behind our international peers. Springstead Village is the perfect example of the housing stock we want to invest in, combining high quality homes with growing local infrastructure.
“A lot of care has been taken in the design to make it feel like the kind of place tenants want to move to, with easy access to Cambridge’s tech and life sciences hub, bringing high convenience for busy families.”
