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A new £9.6 million student accommodation development is set to take place in Leeds, adding to the array of similar developments constructed in the city in recent years.
The Trapezium development will be located by the junction of Park Lane and Belle Vue Road, half a mile away from both the University of Leeds and Leeds Beckett University. It will feature 91 apartments and a new cinema.
Torson Devco will be developing the new property, financed by a £9.6 million loan from Aldermore Bank. Property development manager at Aldermore David Whitehouse said the bank was “delighted” to be involved in the project, having worked with Torson Devco before.
He added: “Leeds is the largest legal and financial centre outside London with a thriving cultural scene which makes it a popular choice for both domestic and international students.”
Managing director of Torson Developments David Worsley noted it was the fourth collaboration with Aldermore.
He added that the project will have significant benefits for the local construction sector, commenting: “During construction up to 80 workers will be employed and following completion of the development in time for the 2022/23 academic year, a permanent staff team will be employed to run the accommodation.”
Scaffolders in Leeds will be among contractors involved in the project, helping to clad and fit out the new building once the main structure is in place.
The growth of student accommodation has been one of the most notable features of the transformation of inner and central Leeds in recent years, with the city now boasting five universities.
With around 200,000 students on various courses – albeit with many of these being Leeds residents studying locally – the need for student accommodation remains significant and many more student accommodation projects will be likely in the future.
Earlier this month, a £62 million scheme was announced to transform the Leonardo Printworks, the Leonardo building and Thoresby House into new student accommodation.
The listed buildings , located in the Civic Quarter,will be turned into student apartments by McClaren Property.
