Privately owned Torsion Group and Housing Growth Partnership (HGP) have announced a joint venture (JV) to develop a residential project in Sheffield, England.
The project, valued at £53 million ($67.79 million), will feature 234 build-to-rent units, including one and two-bedroom apartments and studios. Located at Hollis Croft, the development is expected to be completed by mid-2026, according to Construction Enquirer.
Torsion Construction will act as the main contractor for the project. The development will offer various amenities, such as a residents’ lounge, home cinema, gym, co-working spaces, meeting rooms, and bicycle storage.
Legal representation for Torsion was provided by Shakespeare Martineau, while Shoosmiths assisted HGP. Eversheds represented Ingenious Group Real Estate, and GLPG served as the debt originator, with significant contributions from Nicholas Swerner of GL Capital.
Dan Spencer, CEO of Torsion Group, expressed satisfaction with the joint venture, stating, “HGP’s unique offering and approach to joint equity funding with Torsion has been instrumental in bringing Hollis Croft in Sheffield to fruition. The team at HGP has been a highly supportive partner, and we are pleased to be working with them to deliver a sustainable building and positive outcomes for local communities in Sheffield.”
In January, Torsion and Zenzic Capital announced a new £147 million joint venture for purpose-built student accommodation.
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By Proptechbuzz
By Ravi Kumar
