UK: Real estate finance firm Maslow Capital has agreed a £65 million development loan to support a build-to-rent (BTR) scheme in Leeds by Torsion Developments, the development arm of Torsion Group.
The scheme, called Flax Place, will deliver 300 rental apartments on a vacant brownfield site in east Leeds.
Designed by Day Architecture, the development will comprise two towers of nine and 14 storeys respectively, linked by a shared podium.
Flax Place will feature a range of resident amenities including communal lounges, co-working areas, leisure facilities, and secure cycle storage. Construction began in Q4 2024, with all four concrete cores now complete. Practical completion is scheduled for April 2027.
This marks the third deal between Maslow and Torsion in Leeds. GLPG acted as capital advisor for the latest transaction.
Emma Burke, managing director of development finance at Maslow Capital, said: “We are delighted to partner once again with Torsion Developments, whose delivery capability continues to impress. Flax Place will play a vital role in narrowing Leeds’ acute housing shortfall while offering residents best-in-class amenities.”
David Worsley, COO at Torsion Group, said: “Having a lender that consistently champions both Torsion Developments and the wider Northern economy, while bringing deep expertise across the UK and European real estate landscape, gives us the confidence to deliver forward-thinking schemes such as Flax Place, bringing premium, institutionally backed rental homes to one of the country’s most dynamic regional cities.”
Highlights:
• Maslow Capital has agreed a £65 million loan to support a BTR scheme in Leeds by Torsion Developments
• Development will deliver 300 rental apartments on a vacant brownfield site in east Leeds
• Construction began in Q4 2024 and completion is scheduled for April 2027
