Federated Hermes has forward funded the next stage of Caddick Group’s SOYO Leeds Build to Rent neighbourhood. TT&G acted for Federated Hermes. The scheme, which will be delivered by Caddick Group, will operate under Federated Hermes’ Hestia brand.
The SOYO Leeds scheme comprises two adjoining blocks and will deliver 331 homes – a mix of one, two and three bedroom apartments. The development includes 12,000 sq ft retail, restaurant and ground floor amenity space and outdoor courtyards. The buildings will be delivered alongside a new public realm including green spaces and a pedestrian square, in the fast-evolving cultural quarter of the city.
Leeds-based DLG Architects have been tasked with designing SOYO Leeds’ buildings in the new city centre district, with sustainability credentials that go beyond current statutory requirements, using techniques to reduce embodied carbon alongside high levels of insulation and renewable technologies part-powering the building.
“Our focus remains on delivering high-quality, mid-market rental properties that drive value for all our stakeholders. The partnership with Caddick on the delivery of this exciting scheme will do just that for Leeds. Hestia’s four-year track-record of operating quality Build to Rent assets has allowed us to identify an opportunity of institutional scale, within an exciting regeneration scheme benefiting from quality public realm and cultural amenities. We look forward to bringing this scheme forward with Caddick in the coming years.”
Will Gibby, Director, Fund Management – International Business of Federated Hermes
SOYO Leeds is scheduled for completion in late 2023 – and the project will support 2,000 construction jobs and 14 apprenticeships in the sector during the course of the build programme, which will be carried out by Caddick Group businesses – Caddick Developments, Caddick Land and Caddick Construction, who will work with the project team to take the scheme from blueprint to delivery.
“We are delighted to have secured this opportunity to work closely with one of the world’s leading investment managers and their experienced residential operational platform on their flagship Leeds Build to Rent project.
“Our vertically integrated business provides a wide range of end-to-end services for institutions looking to enter the market and want to work both at scale and at speed. By working collaboratively with others, we expect the Build to Rent sector to have a hugely positive impact on the UK housing market over the next decade, improving living standards for millions of residents. SOYO will be at the forefront of that ambition.”
Myles Hartley, Managing Director, Caddick Developments
