September 22, 2021
Manchester Life Development Company
(UK Company number 08800093) is wholly owned by Manchester City Council and Acre Real Estate Investment and Development LLC (Loom Holdings).
Acre is wholly owned by His Highness Sheikh Mansour bin Zayed Al Nahyan and is registered in Abu Dhabi. In November 2022, a transfer to Acre was completed of all real estate shareholdings previously held by Abu Dhabi United Group for Development and Investment (ADUG).
Acre plans and manages the implementation of investments wholly funded by Acre via a mix of debt and equity, with Acre carrying all development and operational risk. The City Council does not provide any funding to Manchester Life, but makes land available on arm’s length terms.
Manchester Life Development Company does not own any assets. Development-specific profit-sharing agreements are in place to enable the City Council and Acre to share profits.
The Board of Directors of MLDC are nominees of the shareholders and are subject to UK Directors Duties. None of the Directors have any shares in the business and none of them receive any remuneration for their role as Directors.
Manchester Life Management Limited
Is the rental arm of Manchester Life that is responsible for the lettings, management, and customer service for homes across its rental developments: Cotton Field Wharf, Sawmill Court, Smith’s Yard, Weavers Quay and Lampwick Quay.
Since opening our first building in 2017, the team has grown to over sixty employees. We operate a 360-degree approach to our service by covering everything from leasing to housekeeping in house.
Manchester Life Management Limited (Company number 08800088) is owned by Loom Holdings Ltd, an Acre Real Estate Investment and Development LLC Subsidiary.