Atelier provides £30.8m to fund Leeds PBSA
Torsion Group will deliver a 205-studio student living block off Kirkstall Road after agreeing a financing package with the specialist development finance lender.
The target date for completion will be the academic year starting in autumn 2026.
Now fully acquired post-planning, the scheme will be the fifth project in Torsion’s joint venture with Zenzic Capital, which is providing funding for the remainder of the £43.5m scheme.
Torsion Construction will build it, with operation to come through Torsion’s student brand Luna.
Rav Kudhail, lending director at Atelier, said: “Torsion’s proven track record in delivering high-quality PBSA means we are delighted 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. Key to the success in this deal is the trust built up between all the project partners.”
The scheme was approved earlier this year in what is a hotspot for student development.
Dan Spencer, chief executive of Torsion, said: “We are delighted 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. Their professionalism and ability to deliver customised finance facilities has been integral to securing this large PBSA development in Leeds.”
Torsion, which this summer opened a Sheffield office to service projects in that city, is busy on all fronts. The group is working with Christine Yorath on high-end residential projects, advanced care schemes, and bulked up its land-hungry housing arm with the addition of Ian Worthington.
The joint venture with Zenzic Capital is also delivering projects including PBSA at Burley Street, Leeds.
Spencer added: “By leveraging Atelier’s flexible financing options, we will be able to optimise our build programme and ensure timely delivery at Kirkstall Road. Having this financial agility allows us to stay ahead of the market as demand for high-quality student housing grows.
“Our ongoing partnership with Atelier gives us a strong foundation to scale our presence further in the PBSA sector.”
