£100m build to rent development deal set for completion

A site in Leeds earmarked for a £100m build-to-rent scheme is on the verge of being bought by Get Living from Taylor Wimpey.

Get Living, backed by Delancey, APG and Qatari Diar, is acquiring the site on Globe Road for a figure believed to be in excess of £10m, Property Week reported.

Taylor Wimpey has already secured planning permission for 625 homes on the site.

Keepmoat will develop the site and Get Living is expected to manage it after it is built. The deal is set to complete within the next month.

Globe Road, on the south bank of the River Aire near Leeds train station, is an area that is fast becoming a hotbed for BTR projects.

Grainger has agreed to forward purchase a 242-unit BTR development at a site on the north bank of the River Aire for about £40m and last month, Property Week revealed that L&G was closing in on the nearby Mustard Wharf site for a £55m BTR project.

The largest PRS scheme in Leeds, for 744 homes from Dandara Group, secured government funding in December to help kick-start the development.