BlueCastle Capital has acquired a build-to-rent (BTR) development site in Leeds city centre from Prescient Capital for an undisclosed price.
The acquisition of the site, which forms part of the former Yorkshire Post headquarters on Wellington Street, takes BlueCastle Capital’s UK BTR development pipeline to £1.1bn.
The site benefits from an existing planning consent for a BTR development comprising 348 homes.
Ed Williams, CEO of BlueCastle Capital, said: “Pushing our development pipeline beyond £1bn is a significant moment for the business and reflects the scale of our ambition in UK build-to-rent. We believe we are building the highest quality build-to-rent development pipeline in the UK, with each site selected for its location, fundamentals and long-term relevance to renters.
“Leeds stands out as one of the country’s most compelling rental markets, underpinned by employment growth, a young and skilled population and long-term regeneration. Securing a site of this quality within the Wellington Place quarter allows us to deliver a scheme that meets the needs of modern renters while contributing positively to the city’s ongoing evolution.”
