NEWS
Torsion Developments reports record profit and secures £1.3bn pipeline
Torsion Developments Limited (TDL), a property investment and development business and part of Torsion Group, has reported record-breaking results for the year ending December 2024.
The company delivered a Gross Development Value (GDV) of completed schemes of £463m (2023: £190m), more than doubling performance year-on-year despite a challenging macroeconomic backdrop of rising interest rates, build cost inflation and tightening debt markets.
- Pre-tax profit more than doubled to £7.2m (2023: £3.1m), driven by rising investment values, a larger number of live developments and improved operational performance.
- Net assets grew substantially to £17.7m (2023: £10.9m), reflecting the strength of TDL’s balance sheet and disciplined capital deployment.
- Investment portfolio tripled to £38.7m (2023: £11.4m), marking the company’s strongest growth trajectory since inception in 2015. This expansion demonstrates TDL’s ability to capitalise on market opportunities whilst maintaining rigorous investment standards.
The strategy is overseen by Dan Spencer (CEO, Torsion Group), David Worsley (COO), Ed Wootton (Managing Director) and Miles Dearden (Legal Director), whose collective leadership provides new capital investment partners with confidence in financial discipline, robust governance and sustainable value creation.
TDL successfully invested in, financially closed and commenced construction on £343m GDV of new schemes with joint venture partners, including:
- Hollis Croft in Sheffield (£51.0m)
- Flax Place in Leeds (£84.8m)
- Sky Gardens in Leeds (£85.7m)
- Kirkstall Road, Leeds (£43.5m)
- Burnsall Road, Coventry (£39.0m)
- Burley Road, Leeds (£39.5m)
TDL has already secured a future GDV pipeline worth over £1.3bn, which demonstrates both strong investor appetite and the company’s ability to unlock complex, high-value schemes. Key projects include:
- Eastgate, Leeds – mixed use £967.0m
- Leicester, PBSA £24.6m
- Nottingham, PBSA £98.8m
- Manchester, BTR £82m
- London, PBSA £105m
- Birmingham, PBSA £92m
These projects reflect TDL’s focus on high-demand living sectors: Purpose Built Student Accommodation (PBSA), Build to Rent (BTR), Build for Sale and Care & Retirement Living.
Environmental, Social and Governance (ESG) considerations remain an ongoing focus for TDL, with a newly appointed ESG Lead tasked with monitoring and reporting quarterly progress to shareholders, alongside the appointment of a dedicated Environmental and Sustainability Adviser.
The company achieved significant progress in reducing its carbon footprint, with its Burley Road project achieving a carbon target of 413kg/m², well below the committed target of 500kg/m².