A joint venture between Barings and Glenbrook will deliver 618 homes

Homes England, Greater Manchester Pension Fund (GMPF) and West Yorkshire Pension Fund (WYPF) will provide a £91m loan over a four-year term for the development of a 618-home build-to-rent project.

kirkstall road

Source: Glenbrook

What the apartment blocks on Kirkstall Road could look like 

The West Yorkshire Combined Authority (WYCA) has also contributed a £5.7m grant from its brownfield housing fund, bringing the total amount of new funding to £96.7m.

The scheme is being developed through a joint venture between global real estate manager Barings and Manchester-based residential developer Glenbrook, which was appointed as the project’s development manager.

Located on Kirkstall Road one mile from Leeds city centre, the neighbourhood will comprise a mix of build-to-rent and for-sale flats with one, two and three-bedrooms across five buildings next to the River Aire.

The homes will be completed to EPC B standard, with air source hear pumps and PV panels.

The five-acre site will include over 10,000 square feet of amenity space, such as 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. Glenbrook achieved planning consent for the properties in February 2023.

>>See also: Could build-to-rent become the ‘darling of housing delivery’?

>>See also: How a focus on build-to-rent is helping Quintain regenerate Wembley

Nigel Barclay, director of loans at Homes England, said: “The Kirkstall Road scheme is an excellent example of how [Home England’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.”

The scheme was designed by Carey Jones Chapman Tolcher. Consultants Avison Young, Curtins and GIA and surveyors Abacus Cost Management and engineering consultant Crookes Walker Consulting are also on the project team.

This is the fourth BTR-led development that Barings and Glenbrook have collaborated on.

 

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