Torsion Targets Leads To Leeds

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Torsion, in a Zenzic Capital joint venture, is set to deliver a fith student accommodation scheme with planning secured on £43.5m Leeds development. Torsion is targeting a total portfolio GDV of over £250 million.

Zenzic Capital is a real estate credit funder.

The joint venture, which launched in January, now comprises five major schemes, which are all located in Russell Group university cities where there is an acute shortage of high-quality purpose-built student accommodation (PBSA).

Senior debt for the scheme is being provided by Atelier, a specialist finance company that delivers bespoke development finance solutions.  All three partners have worked together previously on successful project deliveries including large PBSA developments across the north of England and Midlands.

What’s being built?

This latest scheme will comprise 205 studio rooms across 10 floors as well as communal spaces, roof gardens, a gym, a social lounge, cycle storage and study areas. The asset will be built to a modern specification and is targeting a BREEAM ‘Excellent’ rating and a 3 Star Fitwel Certification.

This will involve Torsion Construction acting as main contractor to undertake all aspects of on-site delivery. Torsion Developments will act as development managers throughout the duration of the project. Once the project is completed and handed over it will be operated by LUNA Students, which is part of Torsion Group and one of the leading property management experts in the student accommodation sector.

Dan Spencer, chief executive officer at Torsion Group, said: “Kirkstall Road has become the latest high profile PBSA development to benefit from our ongoing strategic partnerships with leading finance companies.   Completing the joint venture means that it now becomes the latest in a series of large PBSA developments we have in our pipeline.”

Picture: An impression of the proposed Kirkstall Road development.

www.zenziccapital.com

www.atelierfinance.co.uk/loan-solutions

www.torsiongroup.co.uk

Article written by Cathryn Ellis
12th September 2024

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