Kirkstall Forge Development

Hampshire Trust Bank (HTB) has secured a £25 million deal with GMV Twelve to fund the construction of Kirkstall Forge, a new neighbourhood in Leeds.

The project will comprise over 1,400 homes, along with offices, hospitality, and leisure venues. Situated in western Leeds, the funding will refinance and restructure Capital Estate Group’s secured debt facilities for the site.

LEXI Finance introduced the case to HTB through a tendering process, involving multiple parties from Jersey and Gibraltar, as well as five legal teams. GMV Twelve will now move forward with planning consent applications for the site, located on the banks of the River Aire.

Rob Syrett, Head of Origination of Development Finance at HTB, expressed his satisfaction with the deal: “It was a real pleasure to work with both CEG and LEXI on such a flagship scheme as Kirkstall Forge. The deal allowed HTB to once again demonstrate its commitment and ability to support groundbreaking schemes with complex structures to achieve a positive outcome for all parties. We strive to deliver a best in class service and are absolutely committed to supporting clients such as CEG with the development of landmark schemes across Britain, and we look forward to continuing to work with them to deliver the project.”

The development is expected to be a key topic at upcoming property networking events in Leeds, drawing interest from property investors and construction professionals. Additionally, HTB’s development finance division has opened a new office in Leeds, highlighting its dedication to backing major construction projects in the area. This project is set to attract attention at real estate networking events in West Yorkshire, fostering discussions on future developments in the region.

Read about HTB’s £21.1 million development finance facility for a mixed-use development in North London in 2023, visit https://www.ukreiif.com/investment-news/hampshire-trust-bank/