Leumi UK funds 185-home Leeds BTR

Leumi UK has agreed a £22m loan with Leumi UK to fund the development of a 185-home, build-to-rent scheme in Leeds. The Spinners Yard development, by Gresham House-backed Rise Homes, will deliver 185 one, two and three-bedroom homes as well as a range of amenities including a gym, lounge area and rooftop garden. The site is located on a brownfield site in the Mabgate area of Leeds city centre, it aligns with Gresham House’s commitment to support the provision of sustainable housing. It is also receiving a grant from West Yorkshire Combined Authority via its Brownfield Housing Fund, which supports new housing developments on brownfield sites that have been vacant for long periods. Joe Thomas, investment director at Gresham House, said: “This development will make a real impact, providing much-needed affordable and well-fitted rental accommodation in Leeds, so we are delighted to have agreed this loan with Leumi UK to support the Spinners Yard project. It is also fantastic to have support from West Yorkshire Combined Authority for the project. “As interest in build-to-rent housing from institutional investors continues to grow, we look forward to supporting further exciting projects and playing our part in addressing the challenges facing renters up and down the country.” Planning in Leeds >> Image © 5plus architects & Rise Homes