Realstar Group and HUB Residential have recently announced a £108 million forward funding agreement to construct 488 UNCLE Build-to-Rent (BTR) homes in Leeds. This agreement marks a major milestone in the development of the city’s residential market, as it is the largest forward funding agreement for BTR homes in the UK.
The 488 UNCLE BTR homes will be located in the city’s South Bank district, which is undergoing a major regeneration project. The residential development will include a mix of one, two and three-bedroom apartments, as well as a range of communal amenities such as a gym, cinema, and co-working spaces. The development will also feature a range of green spaces and public realm improvements.
The forward funding agreement was made possible through a partnership between Realstar Group, HUB Residential, and Bridges Reach, a specialist real estate finance provider. The agreement will provide the necessary capital to begin construction on the 488 UNCLE BTR homes, which is expected to be completed by 2022.
The development of the 488 UNCLE BTR homes is part of a larger effort to create more affordable housing in Leeds. The city has seen a significant increase in house prices over the past few years, making it increasingly difficult for people to purchase or rent properties. By providing more affordable housing options, the 488 UNCLE BTR homes will help to make Leeds more accessible for people of all incomes.
The forward funding agreement between Realstar Group, HUB Residential, and Bridges Reach is an important step towards creating more affordable housing in Leeds. The 488 UNCLE BTR homes will provide much-needed housing for people in the city, and will help to create a more vibrant and diverse community. This agreement is an example of how private and public sector partners can work together to create positive change in cities across the UK.