Specialist development finance lender Atelier has approved a €36.5 mln loan to support the construction of a new student accommodation building in Leeds, UK.
The 205-bed development, located near Kirkstall Road, is being undertaken by Leeds-based construction and property company Torsion Group and is expected to be completed by October 2026.
The project aims to transform a vacant office building in Leeds city center into a student housing complex that targets Fitwel and BREEAM certifications. The development will include green spaces, shared amenities, and improved streetscape to enhance the living experience for students.
This project, submitted by Brigade Central, a partnership headed by Birmingham Properties Group, received approval earlier this year.
Rav Kudhail, lending director at Atelier, said: ‘Torsion’s proven track record in delivering high-quality PBSA means we are happy to partner with them once again on this latest development in Leeds. We worked closely with the Torsion team to structure an effective facility which will enable them to secure the site and deliver the project.’
Dan Spencer, CEO of Torsion Group, added: ‘We are pleased to be working with Atelier on our Kirkstall Road development, which is the latest in a succession of recent deals with this leading finance provider. Having this financial agility allows us to stay ahead of the market as demand for high-quality student housing grows.’
This is the second financing deal provided by Atelier to Torsion Group this year, following the approval of €31.0 mln for a PBSA building with 196 studios near the University of Warwick in January.
