Maslow Capital weighs in to back Leeds’ Flax Place
In its third collaboration with Torsion Developments, the real estate finance provider has agreed a £65m development facility to deliver the 300-home build-to-rent scheme.
The project is being brought forward on a brownfield site east of the city centre.
The scheme was forward-sold to Starlight Investments late last year by Torsion.
Designed by Day Architecture, Flax Place comprises two architecturally distinctive towers of 11 and 15 storeys with a shared podium.
Construction began in Q4 2024 and is progressing on programme, with all four concrete cores complete and practical completion scheduled for April 2027.
The transaction marks Maslow Capital’s third collaboration with Torsion Developments in Leeds. Previous support includes a £57m facility for a nearby 367-unit BTR development, and a £54.4m loan supporting a CityLife–Torsion joint venture to deliver a market-sale residential scheme.
Financial advisory GLPG acted as capital advisor to the borrower, supporting Torsion Developments throughout the funding process.
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Emma Burke, managing director, development finance at Maslow Capital, said that Torsion Developments; “delivery capability continues to impress”
She added: “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.”
