Property investor acquires development of more than 300 apartments
HBD, part of Henry Boot, has confirmed the sale of its £80m GDV Mabgate Yard development in Leeds, with Cheyne Impact Real Estate selected to bring the scheme forward.
Cheyne Impact Real Estate launched in 2014 to tackle housing challenges in the UK through tailoring its housing investment strategy for each location and community, to address the specific local needs.
HBD secured planning permission for Mabgate Yard in September 2023. The 310 new apartments will be accompanied by amenities including co-working and creative spaces and new green space.
Ed Hutchinson, managing director at HBD, said: “Mabgate Yard is a fantastic scheme located in one of Leeds’ most unique neighbourhoods.
“Following extensive community consultations, we were keen to ensure the development would be both high quality and have a significant affordable element and identified Cheyne Capital to bring it forward, focusing on delivering social value into an up-and-coming area like Mabgate.
“The development occupies a key strategic gateway site between St James’ Hospital and Leeds city centre and has real potential to create a thriving community in one of the city’s most popular emerging neighbourhoods.
“As a long-term investor in the city and the wider region, it was important to HBD that we entrust the site to the right buyer with aligned interests.”
Ehtizaz Chaudhry, of Cheyne Impact Real Estate, added: “We are looking forward to delivering Leeds City Council’s vision through Mabgate Yard.
“Mabgate is an exciting emerging neighbourhood, full of character, historic buildings and a strong independent creative community.
“It is undergoing vast regeneration, is on the doorstop of Leeds city centre and offers excellent connectivity into Leeds and surrounding areas.
“Mabgate Yard will be a best-in-class build-to-rent scheme of up to 310 apartments, providing a significant amount of well-designed amenity space, landscaped gardens, enhanced public realm and ground floor commercial offerings.
“In keeping with our investment philosophy, we will create a high-quality residential scheme to complement the local requirements of this emerging area, adding to our growing portfolio of impact-led and community-centric investments.”
