HBD completes sale of £80m Mabgate Yard development in Leeds to build-to-rent developer

Hundreds of affordable build-to-rent apartments will be built in Leeds after the development arm of Henry Boot sold a Yorkshire site with a gross development value of £80m.
Lizzie Murphy
By Lizzie Murphy
Published 18th Jan 2024, 16:45 BST

HBD, part of Henry Boot, said it had chosen Cheyne Impact Real Estate to bring its Mabgate Yard development forward.

Cheyne Impact Real Estate launched in 2014 to tackle housing challenges in the UK.

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HBD secured planning permission for Mabgate Yard in September 2023. The 310 new build-to-rent apartments will be accompanied by amenities including co-working and creative spaces and new green space .

HBD, part of Henry Boot, has announced the sale of its £80m GDV Mabgate Yard development in Leeds, with Cheyne Impact Real Estate selected to bring the scheme forward. Picture supplied by HBD.HBD, part of Henry Boot, has announced the sale of its £80m GDV Mabgate Yard development in Leeds, with Cheyne Impact Real Estate selected to bring the scheme forward. Picture supplied by HBD.
HBD, part of Henry Boot, has announced the sale of its £80m GDV Mabgate Yard development in Leeds, with Cheyne Impact Real Estate selected to bring the scheme forward. Picture supplied by HBD.

Since acquiring the site in December 2020, HBD has provided space for several local charities, including Zarach and MAP Charity, which transformed the building with a 26 ft mural during a workshop for children.

Ed Hutchinson, managing director at HBD, said: “Following extensive community consultations, we were keen to ensure that 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.”

Related topics:LeedsHenry BootYorkshire