Hampshire Trust Bank completes ‘complex’ £25m deal for Leeds new quarter

The funding will be used to build the iconic Kirkstall Forge suburb in west Leeds by refinancing and restructuring Capital Estate Group’s (CEG) secured debt facilities across the site.

The borrower can now proceed with planning consent for the full scheme.

Situated on the banks of the River Aire, Kirkstall Forge is a brand new community of around 1,400 homes as well as offices, accommodation and leisure, a nursery and transport infrastructure.

The case was brought to HTB by Lexi Finance following a tender process. According to HTB, the deal was complex, with 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 HTB, said: “The deal has enabled HTB to demonstrate once again its commitment and ability to support innovative schemes with complex structures to achieve a positive outcome for all parties.

“We strive to provide best-in-class service and are absolutely committed to supporting clients like CEG in developing benchmark schemes across the UK and look forward to continuing to work with them to deliver the project.”

Sam Le Pard, director at Lexi Finance, said: “We are proud to have played a small part in the history of the site, unlocking CEG’s vision for a legacy project that will make a huge impact on the local community.”

Neil Leitch, managing director of development finance at HTB, added: “What is planned is very much in line with the ethos of HTB. Having opened our regional development finance office in Leeds in 2018, I am delighted to see that we are funding one of the city’s most iconic locations.