This is why German investor ECE has bought a build-to-rent portfolio in Leodis Square in Leeds

A German investor has bought a residential build to rent scheme in the heart of Leeds.

The UK developer and property manager Dandara has agreed the sale of a 2,063 build-to-rent (BTR) portfolio to German-headquartered ECE.

The deal comprises three schemes including Aston Place in Birmingham, Chapel Wharf in Manchester and Leodis Square in Leeds.

ECE’s acquisition for the 324-unit Aston Place development in Birmingham has already completed. The deal will extend to Chapel Wharf and Leodis Square when construction work on both schemes is completed later this year.

Dandara will continue to manage the developments following the acquisition under its Dandara Living brand. Its management portfolio consists of more than 4,000 units across the UK.

The developer announced plans for its Birmingham, Leeds and Manchester developments in 2016 after securing backing from the Homes and Communities Agency and HSBC.

Dan Tynan, founder and chairman of the Dandara Group, said: “ECE made the perfect buyer for us. Dandara see the huge growth opportunity that BTR represents in the UK, in particular, the regional markets.