Platform_ secures funding for Leeds BTR scheme

Platform_ has secured a £90m development loan from BGO to support the construction of a 451-home build-to-rent scheme in Leeds. The BTR developer and operator previously formed a joint venture with Housing Growth Partnership, the Lloyds-backed equity investor, to deliver the scheme in October 2024.  The scheme represents the first phase of Platform_’s 1.3m sq ft mixed-use development on Sweet Street, in the South Bank regeneration area of Leeds. The masterplan comprises 1,350 homes and 200,000 sq ft of commercial space. The development is set to bring £500m of investment to the brownfield site, which has been vacant since 2009. Winvic Construction has been appointed as the main contractor, marking its third collaboration with Platform_. The scheme is scheduled for completion at the start of 2027, with the site becoming a thriving mixed-use community, featuring a mix of studios and one- to three-bedroom apartments, complemented by amenities including a gym, residents’ lounges, co-working spaces, roof terraces and green spaces. Jonathan Rae, finance director at Platform_, said: “Following on from the formation of our joint venture with Housing Growth Partnership in 2024, this loan from BGO completes the funding of the first phase of our new 1.3m sq ft residential-led neighbourhood in Leeds. This is Platform_’s 10th BTR development, accelerating delivery of much-needed homes in Leeds and the ongoing revitalisation of the South Bank area. “Throughout the loan arrangement process we have benefited from BGO’s knowledge and experience of the UK residential sector, as well as their flexible approach. We are pleased to have them as a partner on this development.” See market analytics information for Leeds >> Image courtesy of Platform_/Revere