Barings has secured a £96.7 million debt facility for a sustainable residential development scheme near Leeds city centre, supported by multiple institutional investors and government agencies.

Target Information

Barings has successfully secured a debt facility of £96.7 million aimed at financing a significant residential development scheme on Kirkstall Road, located near Leeds city centre. This funding initiative is backed by Homes England, the Greater Manchester Pension Fund (GMPF), and the West Yorkshire Pension Fund (WYPF), with additional contributions from the West Yorkshire Mayor through the region's brownfield housing fund.

The financial structure includes a £91 million loan over a four-year period and a grant of £5.7 million to support the development. This project is being executed in collaboration with Glenbrook, a prominent residential developer in the UK, which will maintain a stake in the scheme and serve as the development manager.

Industry Overview in the UK

The UK residential real estate market continues to face challenges, notably a pressing demand for quality housing amidst an ongoing shortage. Cities like Leeds are experiencing increased interest as they become pivotal locations for