In partnership with Khalbros, a Leeds-based private equity real estate firm, Torsion is working up plans for a 拢1bn GDV mixed-use regeneration scheme in Leeds city centre.
The Eastgate site had previously been earmarked for a retail-led masterplan that has been reshaped in recent years. The joint venture partnership is now progressing a larger, residential-based scheme, including private rented sector and student accommodation.
Torsion Group founder and chief executive Dan Spencer said: 鈥淭his is a landmark moment not just for our company but for Leeds. The opportunity to help create a new neighbourhood in such a pivotal part of the city centre is incredibly exciting. Eastgate Quarter will stand as a symbol of collaboration and progress. We are proud to play a part in shaping a destination that will support Leeds鈥� growth and leave a lasting legacy for future generations.鈥�
David Khalastchi, joint managing director of Khalbros, added: 鈥淓astgate Quarter is a once-in-a-generation opportunity to reshape one of the most strategically located city centre sites in the UK. Together with our investors and joint venture partners, we are committed to delivering a bold and transformational scheme with sustainability, placemaking and design excellence at its core. What has been vital to us and Torsion throughout this process, being Leeds based companies, is that the scheme is being brought to life by predominantly Leeds based outfits. This is about more than development. It is about creating the Leeds of the future, by the people of Leeds.鈥�
Leeds City Council leader James Lewis said: 鈥淯nlocking and securing a new future for this key area of our city centre is testament to the ambition and vision we have in Leeds. The regeneration of Eastgate Quarter represents a major milestone for our city, with this landmark investment unlocking new homes, jobs and commercial space, helping to shape a vibrant, inclusive and sustainable future for Leeds. We look forward to working closely with the joint venture partners to bring their ambitious vision to life.鈥�
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