Maslow Capital, a specialist provider of real estate finance, has completed a £65 million development facility with Torsion Developments, the development arm of the vertically integrated Torsion Group, to deliver Flax Place, a Build to Rent (BTR) scheme in Leeds.
The project will create 300 apartments on a vacant brownfield site to the east of the city centre.
Designed by Day Architecture, Flax Place comprises two towers of 9 and 14 storeys, linked by a shared podium. Residents will benefit from amenities including communal lounges and co-working areas, secure cycle storage, and on-site leisure facilities.
Construction began at the end of 2024, is progressing on programme – with all four concrete cores already complete – and is scheduled for practical completion in April 2027.
The development has been forward sold to Starlight Investments.
Emma Burke, managing director, 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.”
Financial advisory GLPG acted as capital advisor to the borrower, supporting Torsion Developments throughout the funding process.
