Ares and Generation Partners back £62m PBSA

McLaren Property has secured backing from Ares and Generation Partners for a £62m student scheme in Leeds. The Leonardo and Thoresby buildings will provide 473 bedrooms in the Civic Quarter, in the city centre. The scheme has been designed by Cartwright Pickard and will be built by Robertson Construction. McLaren will begin work this month, refurbishing the existing listed buildings and adding a new-build block. Construction is expected to complete in 2023. Wilson Lamont, partner and co-head of European real estate equity at Ares Real Estate Group, said: “Student accommodation is a key growth sector for Ares. The unique McLaren development is in one of Britain’s leading regional cities with a thriving student population, and fits well within our strategy.” Tom Gilman, regional managing director at McLaren Property, added: “The Leonardo and Thoresby buildings development also builds on McLaren Property’s commitment to Leeds.” To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews Image © McLaren Property