Legal & General have purchased a Build To Rent (BTR) site in the centre of Leeds from U+I in partnership with CTP.

The site, called Mustard Wharf, has permission for 250 homes as well as 8,640 sq ft of commercial and amenity space and is close to Leeds Train Station.

Dan Batterton, BTR Fund Manager at LGIM Real Assets, said:  “In our view Mustard Wharf is the ideal location for a BTR scheme in Leeds. It is close to major transport links and local amenities, and complements the wider regeneration of the local area, supporting job growth and the local economy over the long term. ”

L&G expects to be able to begin construction on the £60m scheme in early 2018, with practical completion aimed for early 2020.

James Lidgate, Director of Housing at Legal & General Capital, said:  “This latest acquisition supports our vision of investing in long term sustainable urban schemes that support wider urban regeneration to transform and reshape Britain’s landscape, bringing jobs and housing back into the centre of cities and better utilising our existing infrastructure.”