Homes England, Greater Manchester Pension Fund (GMPF) and West
Yorkshire Pension Fund (WYPF) will provide a £91 million loan
over a four-year term. In addition to this, the West Yorkshire
Combined Authority has provided a £5.7 million grant from its
brownfield housing fund.
The scheme is being developed as a joint venture with Glenbrook,
a leading UK residential developer, which will retain a stake in
the project and act as development manager.
Located on Kirkstall Road, the scheme will deliver 618 one, two
and three-bedroom apartments set across five buildings sitting in
extensive landscape grounds, including a new public realm, next
to the River Aire.
The five-acre site will include over 10,000 square feet of
amenity space, including a residents' lounge, co-working area and
gym, two private roof terraces and 3,800 square feet of
commercial space. Construction has begun and is expected to be
completed by the end of 2027.
Located just one mile from Leeds city centre and within walking
distance of Wellington Place - a key commercial hub - the site
offers excellent connectivity. Leeds Central railway station is
approximately one mile away, while both the University of Leeds
and Leeds Beckett University are easily accessible.
Nigel Barclay, Director of Loans at Homes England, said:
As the Government's housing and regeneration agency, we are
committed to working in partnership with organisations in both
the public and private sector, to achieve their ambitions and
develop much needed new homes across the country.
The Kirkstall Road Scheme is an excellent example of how the
Agency's Home Building Fund is delivering in priority
regeneration locations whilst supporting small and medium house
builders, that are crucial to building a diverse and resilient
housing sector.
Darren Hutchinson, Head of UK Real Estate Transactions at
Barings, said:
The Kirkstall Road scheme represents exactly the kind of
high-quality, well-located residential investment we seek on
behalf of our partners.
With the support of Homes England, GMPF, and WYCA, and through
our joint venture with Glenbrook, we are delivering a
best-in-class residential scheme that will provide much-needed
new homes while creating long-term value for our investors.
Darran Ward, Head of Alternatives at West Yorkshire Pension Fund,
said:
We are proud to support this significant investment in Leeds,
helping to deliver high-quality, energy-efficient homes that are
much needed in our region.
By working alongside our Northern LGPS partner Greater Manchester
Pension Fund, and Homes England, we are demonstrating how
collaboration between institutional investors and government can
drive local economic growth, create jobs, and provide long-term,
sustainable housing solutions.
This project reflects our commitment to investing in our home
market whilst ensuring returns for our members.
ENDS
About Homes England
We are the government's housing and regeneration Agency, and
we're here to drive the creation of more affordable, quality
homes and thriving places so that everyone has a place to live
and grow.
We make this happen by working in partnership with thousands of
organisations of all sizes, using our powers, expertise, land,
capital and influence to bring investment to communities and get
more quality homes built.
Learn more about us: https://www.gov.uk/government/organisations/homes-england/about
