April 28, 2022
A Marrico Helios joint venture has exchanged contracts with US multi-family investor Cortland Group for a major build to rent (BTR) scheme at its £300m Lisbon Street development in Leeds city centre.
The joint venture will develop a £138m BTR element comprising 629 apartments in two buildings of 33 and 22 floors off a single podium with 14,000 sq ft of amenity and commercial space. Construction will commence in the summer and completion is set for mid-2024. Cortland will own and operate the apartment buildings.
The wider Lisbon Street scheme will also incorporate 500 purpose built student accommodation units and a further two phases for hotels and offices.
RG Group have been appointed as contractor with RBA as project managers and DLA as architects
Marrico Partner Richard Bland said: “We are delighted to have signed this deal with Cortland for our flagship scheme in Leeds. This will be one of the city’s landmark buildings and we believe will set new standards in BTR accommodation in the city.”
The Lisbon Street site was acquired from Leeds City Council following a competitive tender. Marrico and Helios exchanged contracts last year.
Helios Chairman Trevor Cartner said: “Leeds is one of the biggest markets for BTR outside of London and we are developing a best in class building for Cortland. We will now focus our energies on the remaining phases of the site.”
BNP Paribas Real Estate acted for the Marrico Helios joint venture
