McAlpine finally gets go-ahead for Leeds Tower Works

With funding now agreed, Sir Robert McAlpine is set to start construction of two residential blocks in Leeds in the coming weeks.Developers Richardson and Ask Real Estate have secured £57m funding for the continuing development of the Tower Work build-to-rent (BTR) site in Holbeck. The funding is coming from Legal & General’s Build to Rent Fund and Access Development Partnership (a joint venture between Legal & General Capital and PGGM).Having secured planning for Phase 1 of the scheme last year, Richardson and Ask Real Estate will act as developers for Legal & General’s latest 245-unit BTR development at Tower Works. They appointed Sir Robert McAlpine as main contractor for the two apartment blocks back in June 2019. [See previous report here.]The delivery team also includes consulting engineer WSP, quantity surveyor Faithful & Gould and Ryder Architecture.Recognising the prospect for rental growth in Leeds, Legal & General has acquired two BTR sites in the city centre: Mustard Wharf in 2017, and now Tower Works. Both sites are central to the city’s South Bank regeneration area by the railway station, and together will deliver 500 apartments for rent, alongside over 16,000 sq ft of commercial space.