Torsion forms JV to build £90m Leeds resi tower
19/12/23
Torsion Group has formed a joint venture with CityLife to bring forward the 34-storey Sky Gardens development in Leeds Southbank.
Torsion Construction has signed a £46.5m build contract to deliver the project which has a £90m Gross Development Value on behalf of the JV partnership.
Sky Gardens 284 apartments and will be one of the tallest residential buildings in Leeds.
CityLife is currently concluding site remediation of the brownfield site, and Torsion Construction is due to start on-site in January. Completion of the project is due in Q1 2026.
Project partners include Architect DLA, Quantity Surveyor Rex Procter & Partners and Planning Consultants ID Planning.
Dan Spencer, CEO of Torsion Group, said, "We are delighted to be entering into a joint venture with CityLife and believe that there is a close alignment of strengths between both companies that will allow us to achieve great things for the city of Leeds.
"Torsion has a long track record of successful project delivery and sustained business growth, and this JV continues to support this."
Spencer added: "Sky Gardens represents our commitment to creating amazing places for people to live and ease the housing under supply in Leeds city centre.
"It also shows our strong belief in the thriving Leeds economy and Torsion's continued growth in the residential for-sale sector.
"This deal showcases our ability to work with partners to ensure developments are funded. Torsion offers the benefits of our fully vertically integrated business model across developments, construction, operations and track record of successful project delivery."
Gareth Morgan, Managing Director of CityLife, added, "Leeds is a fantastic city, and it is an extremely exciting period watching the skyline evolve with so many impressive commercial and residential developments.
"After the success of Springwell Gardens, it was a logical move to form a joint venture with an experienced developer who has in-house construction expertise. I have known Dan and Torsion for several years and expect this to be the first of many future collaborations."
Source; Construction Enquirer