More homes for Leeds after developer strikes funding deal for 331 apartments

Federated Hermes has forward funded the next stage of Caddick Group’s SOYO neighbourhood in Leeds, which will be a 331-home scheme under its build-to-rent (BtR) brand Hestia.

The scheme comprises two adjoining blocks in the new city centre district, with planning permission held for 331 apartments – a mixture of studio, 1,2 and 3 beds – as well as outdoor courtyards, and 12,000 sq ft retail, restaurant and ground floor amenity space.

Leeds-based DLG Architects have been tasked with designing the buildings, using techniques to reduce embodied carbon alongside high levels of insulation and renewable technologies part-powering the building.

Scheduled for completion in late 2023, the project will support 2,000 construction jobs and 14 apprenticeships during the course of the build programme, which will be carried out by Caddick Construction.

Will Gibby, director of fund management at International Business of Federated Hermes, said: “Hestia’s four-year track-record of operating quality BtR assets has allowed us to identify an opportunity of institutional scale, within an exciting regeneration scheme benefiting from quality public realm and cultural amenities.”

Myles Hartley, managing director of Caddick Developments, added: “By working collaboratively with others, we expect the built to rent sector to have a hugely positive impact on the UK housing market over the next decade, improving living standards for millions of residents. SOYO will be at the forefront of that ambition.”

Support The Yorkshire Post and become a subscriber today.

Your subscription will help us to continue to bring quality news to the people of Yorkshire. In return, you'll see fewer ads on site, get free access to our app and receive exclusive members-only offers.

So, please - if you can - pay for our work. Just £5 per month is the starting point. If you think that which we are trying to achieve is worth more, you can pay us what you think we are worth. By doing so, you will be investing in something that is becoming increasingly rare. Independent journalism that cares less about right and left and more about right and wrong. Journalism you can trust.

Thank you

James Mitchinson