Torsion Group and CityLife form Joint Venture to create one of the tallest residential buildings in Yorkshire.
Leeds-based property developer Torsion Group has formed a joint venture with CityLife to bring forward the 34-storey, £90m GDV (Gross Development Value) Sky Gardens development in Leeds Southbank.
The delivery arm of Torsion Group, Torsion Construction, has signed a £46.5m build contract to deliver the project on behalf of the JV partnership.
Sky Gardens comprises 284 residential 1,2, and 3-bed apartments and hosts a residents’ lounge and gymnasium at level 30 that offers panoramic views across Leeds cityscape. When completed, Sky Gardens will be one of the tallest residential buildings in Leeds.
CityLife is currently concluding site remediation of the brownfield site, and Torsion Construction is due to start on-site in January 2024. Completion of this prestigious project is due in Q1 2026.
Project partners are: Architect – DLA; Quantity Surveyor – Rex Procter & Partners; Planning Consultants – ID Planning
Dan Spencer, CEO of Torsion Group, said, “We are delighted to be entering into a joint venture with CityLife and believe that there is a close alignment of strengths between both companies that will allow us to achieve great things for the city of Leeds. Torsion has a long track record of successful project delivery and sustained business growth, and this JV continues to support this.”
This is Torsion’s fifth Major city centre development in Leeds City Centre following the recent news of their BTR schemes at Phoenix (367 apartments) and Flax Place (300 apartments)
Dan added: “Sky Gardens represents our commitment to creating amazing places for people to live and ease the housing undersupply in Leeds city centre. It also shows our strong belief in the thriving Leeds economy and Torsion’s continued growth in the residential for-sale sector. This deal showcases our ability to work with partners to ensure developments are funded. Torsion offers the benefits of our fully vertically integrated business model across developments, construction, operations and track record of successful project delivery.”
This is CityLife’s second development in Leeds, having just achieved practical completion on the 16-storey Springwell Gardens development on Whitehall Road.
Gareth Morgan, Managing Director of CityLife, said, “Leeds is a fantastic city, and it is an extremely exciting period watching the skyline evolve with so many impressive commercial and residential developments. After the success of Springwell Gardens, it was a logical move to form a joint venture with an experienced developer who has in-house construction expertise. I have known Dan and Torsion for several years and expect this to be the first of many future collaborations.”
Sky Gardens will be a Considerate Constructor scheme, creating a significant number of local employment opportunities.