Maslow Capital

Torsion Developments and Khalbros Group secure £55m development funding from Maslow Capital

Maslow Capital has completed a £55m development facility on a 28-month term for Torsion Developments’ (part of Torsion Group) and Khalbros Group’s 367-apartment scheme in Leeds — the first joint venture between the two firms.

The proposed city centre ‘Phoenix’ scheme off Saxton Lane consists of the demolition of two redundant industrial buildings and the construction of two residential blocks arranged around a central public open space, rising to 18 and 22 stories, respectively.

The £82m GDV project will provide apartments across the two blocks, together with communal facilities, basement car parking, landscaping, and public open space. 

The accommodation will also offer a number of disabled accessible compliant apartments.

The development is being constructed using different methods, including offsite manufacturing for the frame and facades. 

The pre-cast concrete ‘crosswall’ system will be used to ensure factory-controlled levels of production of both internal and external panels, which will be delivered to site pre-glazed and complete with integrated service ducts. 

This supports a time efficient and quality-controlled form of construction that meets the full requirements of the fire strategy using the concrete sandwich panel system with integral non-combustible insulation. 

Torsion Construction — also part of the Torsion Group — is the main contractor, Den Architects is the lead designer, Abacus Cost Management is the employer agent/QS, and Curtins is the civil and structural engineer.

Construction started on site in June, with completion due in the summer of 2023.

David Worsley, managing director at Torsion Developments, said: “We are delighted to bring forward this exceptional high-rise development in the heart of our hometown Leeds. 

“This development has not been straightforward, with many challenges presented during the design and planning stages. 

“We thank particularly Leeds City Council for its support and proactive contribution into the project for the last two years, and the many other stakeholders who contributed to this development gaining planning and commencing onsite. 

“We hope to bring to the city a building that people will be proud to name as their residence and provide a positive addition to the skyline of the city of Leeds.” 

Emma Burke, senior deal originator at Maslow Capital, added: “We are thrilled to support this highly anticipated scheme which is being brought to life by an experienced team with a proven track record of delivering exemplary projects. 

“Along with the delivery of 367 high specification apartments, this amenity-rich, city centre scheme has everything buyers and investors look for and we are delighted to be involved in its delivery.”  

Anthony Raud, associate at Maslow Capital, commented: “Torsion is a market leader in delivering excellent accommodation throughout the UK, and their partnership with the Khalbros Group, knowledge of the Leeds landscape, and understanding of the market, will be invaluable.”

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