Maslow Capital has provided a £54.4m development loan to support a joint venture between CityLife and Torsion Group for a residential scheme in Leeds.
The project will convert a 0.93-acre brownfield site, including a Grade II-listed former mill, into a residential destination.
The scheme, entitled Sky Gardens, will feature 306 residential units in a 32-storey tower and a three-storey refurbished mill.
The apartments will range from studios to three-bedroom homes.
The development will include amenities such as a gym, a cinema room, a luxury residents’ lounge, and a ‘Sky Garden’ offering 360-degree views of Yorkshire.
Two commercial units will also be part of the project.
The development team will preserve and restore the Grade II-listed mill, integrating it into the residential block, which will include 22 units.
This design maintains the mill’s character alongside the modern tower, which will rank among the tallest residential buildings in Leeds.
This transaction, introduced to Maslow Capital by Grey Arrow, marks the continuation of a relationship between Maslow, CityLife, and Torsion, both repeat borrowers.
Matt Pigram, senior director, origination at Maslow Capital, said: “CityLife and Torsion Group bring extensive expertise to this project, and we are confident their combined vision will drive the scheme’s success.
“This £54.4m facility deepens our partnership with both developers, bringing our total support to a combined 896 homes across three major Leeds projects – an effort that underscores our commitment to addressing the region’s ever-growing need for high-quality housing.”
David Worsley, COO at Torsion Group, said: “We are delighted to continue our longstanding relationship with Maslow Capital with this being our third transaction following the successful completion The Phoenix and Flax place.
“Torsion Group is proud to be part of this joint venture, bringing together a highly experienced delivery team including investment, construction and development management expertise.
“In partnership with CityLife, we are fully committed to providing Leeds with a best-in-class development which is designed and constructed with placemaking and ESG at the heart of the concept.”
Gareth Morgan, managing director at CityLife, said: “Leeds has always been a city of ambition and reinvention, and Sky Gardens embodies this spirit.
“This project allows us to preserve an extraordinary piece of our industrial history while offering modern, sustainable living that meets the needs of today’s residents.”
John Marriott of Grey Arrow said: “We are pleased to continue our journey with Maslow Capital, collaborating on another leading regional development.
“Their adaptable and solutions-led approach ensures they remain the market leader for developments of this size for the serious property developer.”
