Handover for Leeds BTR homes
Sir Robert McAlpine has achieved practical completion of 245 apartments at the historic Tower Works on Globe Road, a £57m scheme funded by Legal & General.
L&G acquired the development in 2021, investing on behalf of its Build to Rent Fund and Access Development Partnership (a joint venture between L&G Capital and PGGM).
L&G has funded three BTR schemes in Leeds to date, including Mustard Wharf, which is adjacent to the site.
The waterside scheme has been built by Sir Robert McAlpine on behalf of the joint venture partnership of Ask Real Estate and Richardson, in conjunction with Homes England. Ryder is the architect.
The delivery team also included engineering firm WSP and project manager and QS Faithful & Gould.
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With the Tower Works development now complete, L&G will market both schemes as the neighbourhood of Mustard Wharf, delivering 500 homes and more than 15,000 sq ft of commercial space.
Tower Works features two residential buildings with homes ranging from studios to three bedrooms and duplexes, along with ground floor commercial spaces and areas of public realm. Located to the south of the railway station, it creates a new pedestrian route through from the city centre to the Holbeck Urban Village neighbourhood.
The development has achieved WiredScore Platinum certification, making it the first residential development in Leeds to attain the globally-recognised verification of infrastructure connectivity.
Craig Allen, sector director, Sir Robert McAlpine, said: “Reaching practical completion at Tower Works represents a momentous milestone in the transformation of this historic site. It presents a wonderful opportunity to honour the remarkable efforts of the entire project team, while also celebrating the local, social and economic impact of the project.”
Dan Batterton, head of residential at Legal & General Investment Management, added: “It’s fantastic to see the completion of Tower Works and open for our occupiers. Leeds is one of the UK’s largest cities in terms of population and economic output, yet supply of housing has been severely constrained over the past decade.
“As the largest investor and owner of build to rent in the city, we’re delighted to deliver the neighbourhood of Mustard Wharf at Tower Works, and play our part in the landmark South Bank regeneration area.”
John Hughes, managing director of Ask Real Estate added: “We’ve worked in close partnership with our joint venture partner Richardson and our contractor Sir Robert McAlpine to achieve completion, taking a highly collaborative effort from the outset. It’s a real achievement for the team to now mark the handover of this landmark residential scheme to L&G having overcome the multiple challenges of Covid, Brexit and rising construction costs.”
Established in the 1860s as a steel pin factory for carding and combing in the textile industry, Tower Works closed in 1981 and had long taxed minds in the city as to how it should best be regenerated. The site features the three original Italianate towers: Verona; Giotto and Little Chimney, which form a distinctive focal point of the regenerated area.
As outlined in this Place Yorkshire Q&A with LGIM’s Batterton, the institution is also working with developer Glenbrook at Whitehall Riverside in Leeds, with Bowmer + Kirkland appointed as main contractor earlier this year.