Build to Rent: Yorkshire and the Humber Ardent Capital Partners Makes Landmark £200 Million Investment in Leeds Build-to-Rent Development November 14th, 2024 Deividas Krupstas Ardent Capital Partners has made its debut in the UK market with a £200 million investment in a major build-to-rent (BTR) development in Leeds. The project, a cornerstone in the ongoing regeneration of Leeds, underscores the rising appeal of the city’s BTR sector and will play a key role in enhancing the city’s urban landscape.This BTR scheme, located on the former site of the Leeds International Swimming Pool, will bring 578 state-of-the-art rental apartments to the heart of the city. Valued at approximately £200 million, this development is set to reshape the Leeds city center, contributing to the city’s expanding core and catering to the high demand for centrally located rental accommodation.Leeds is experiencing a surge in its BTR market, supported by citywide regeneration projects and rising demand for quality, city center rental options. Key factors include the planned expansion of Leeds’ city center from 228 acres to around 458 acres over the next decade. Currently, 24 BTR schemes are proposed across the city, showcasing a robust demand for central living options. Existing BTR projects in Leeds have been highly successful, with occupancy rates exceeding 94% across three operational schemes, totaling 1,233 apartments.Ardent’s investment aligns closely with Leeds’ long-term vision for urban transformation, particularly in the South Bank area. This district, a focal point for city redevelopment, aims to deliver 8,000 new homes and create 30,000 jobs over the coming years. Ardent’s BTR scheme not only addresses the need for additional residential space but also strengthens Leeds’ commitment to reimagining the River Aire as a central feature in the city’s evolving landscape.The investment in Leeds reflects broader trends in the UK’s BTR market. Demand for high-quality rental properties in Leeds has driven rents to between £22 and £27 per square foot, with some premium developments exceeding £30 per square foot. This trend mirrors the success seen in mature BTR markets like Manchester and Salford, further reinforcing confidence in Leeds as a growing hub for BTR investment.This £200 million investment by Ardent Capital Partners not only signals their entry into the UK market but also serves as a testament to the growing appeal of Leeds’ BTR sector. Ardent’s commitment underscores confidence in the city’s potential for further growth and reflects the increasing attractiveness of Leeds as a destination for high-value BTR projects.
