Atelier funds £30.8m loan for new 205-studio student accommodation scheme in Leeds

By Bridging Loan Directory 11th September 2024

Specialist development finance lender Atelier has today announced that it is financing the ground-up development of a large purpose-built student accommodation (PBSA) scheme in Leeds.

A £30.8m development finance loan has been provided to Torsion Group to develop the PBSA scheme, which will comprise of a 205-studio block in the heart of a key student hub around Kirkstall Road.

Addressing the need for much-required PBSA in the area, the development will be completed in time to accommodate students for the October 2026 academic year.

Rav Kudhail, Lending Director at Atelier, commented:

“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.”

Dan Spencer, Chief Executive Officer of Torsion Group, 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.

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.”