Torsion Developments has secured a £65m development facility from Maslow Capital to deliver the FlaxPlace build-to-rent (BTR) scheme in Leeds.
Designed by Day Architecture, Flax Place will provide 300 apartments across two towers of nine and 14 storeys on a vacant brownfield site to the east of Leeds city centre. The onsite amenity provision will comprise communal lounges, co-working areas, secure cycle storage and leisure facilities.
Construction commenced in Q4 2024 and practical completion is scheduled in April 2027.
Emma Burke, managing director of development finance at Maslow Capital, said: “We are delighted to partner once again with Torsion Developments, whose delivery capability continues to impress. Flax Place will play a vital role in narrowing Leeds’ acute housing shortfall while offering residents best-in-class amenities. Maslow Capital remains committed to providing the flexible capital that drives quality housing where it is needed most.”
David Worsley, chief operating officer at Torsion Group, added: “Maslow Capital’s responsive and dependable financial backing has been instrumental in realising our growth ambitions. As a vertically integrated business, Torsion Group is uniquely positioned to manage every stage of delivery – from investment and development through to construction and operation.
“Having a lender that consistently champions both Torsion Developments and the wider Northern economy – while bringing deep expertise across the UK and European real estate landscape – gives us the confidence to deliver forward-thinking schemes such as Flax Place, bringing premium, institutionally backed rental homes to one of the country’s most dynamic regional cities.
Nick Swerner, director at GLPG, which acted as capital adviser to Torsion, said: “Acting on behalf of the borrower, our priority was to secure a funding partner capable of combining experience, certainty, commerciality and sector expertise. Maslow Capital delivered on all of these – and reliability in particular is paramount when sourcing debt for clients.
“Their agile approach and proven track record in supporting a broad range of living sector assets has given Torsion Developments the confidence and flexibility required to deliver Flax Place on programme. We are delighted to have worked again with both Torsion and Maslow.”
