The creation of a new neighbourhood in Leeds is continuing after Hampshire Trust Bank helped a property group raise £25 million against a parcel of its land.
The deal was completed with GMV Twelve, part of Commercial Estate Group (CEG), which is helping to develop the ‘Kirkstall Forge’ suburb in western Leeds.
Once completed Kirkstall Forge, which is on the banks of the River Aire, will be a brand new community of more than 1,400 homes, offices, hospitality and leisure venues, as well as a nursery and transport infrastructure.
The case was introduced to HTB by LEXI Finance, while it included security documents spread across three different jurisdictions, including Jersey and Gibraltar, five legal teams and a complex corporate structure.
Rob Syrett, head of origination of development finance at Hampshire Trust Bank, said: “It was a real pleasure to work with both CEG and LEXI on such a flagship scheme as Kirkstall Forge.”
The borrower has planning consent for the full scheme.
Sam Le Pard, director at LEXI Finance, said: “We’re proud to have played a small part in the site’s history, unlocking CEG’s vision for a legacy project that will make a huge mark on the local community.”
