Leeds suburb being built in £25m deal

The creation of a new neighbourhood in Leeds continues after Hampshire Trust Bank helped a property group raise £25m from a parcel of its land.

The deal has been completed with GMV Twelve, part of the Commercial Estate Group (CEG), which is helping to develop the suburb of ‘Kirkstall Forge’ in west Leeds.

When completed, Kirkstall Forge, which sits on the banks of the River Aire, will be a brand new community with more than 1,400 homes, offices, hospitality and leisure facilities, as well as a childcare centre and transport infrastructure.

The case was brought to HTB by LEXI Finance and included security documents spread across three different jurisdictions, including Jersey and Gibraltar, five legal teams and a complex corporate structure.

Rob Syrett, head of development finance origination at Hampshire Trust Bank, said: “It has been a real pleasure to work with CEG and LEXI on such an iconic project as Kirkstall Forge.”

The borrower has planning consent for the full scheme.

Sam Le Pard, director of LEXI Finance, said: “We are proud to have played a small part in the site’s history, revealing CEG’s vision for a legacy project that will leave a big mark on the local community.”