Torsion Group and HGP form JV to deliver Hollis Croft BTR

The Torsion Group and Housing Growth Partnership (HGP) joint venture will see the delivery of the Hollis Croft Build to Rent scheme in Sheffield.

The Hollis Croft Build to Rent development in Sheffield, which will be delivered by a partnership between Torsion Group and HGP | BTR News
The Hollis Croft Build to Rent development in Sheffield, which will be delivered by a partnership between Torsion Group and HGP.

Leeds-based construction and property business – Torsion Group – forms a joint venture with Lloyds-backed equity investor in the UK living sectors – Housing Growth Partnership (HGP) – to deliver a new £53m Build to Rent development at Hollis Croft, Sheffield. The development is situated within the Cathedral Quarter of the city centre.

The joint venture will provide funding to bring forward the scheme which will deliver 234 new homes in a mix of studio, one- and two-bedroom apartments. Hollis Croft comprises of seven floors to the west through to 17 floors to the east, which provides views across the city and beyond.

Amenities at Hollis Croft will include a residents’ lounge, home cinema, fully equipped gym, co-working areas with meeting rooms, and bicycle storage.

“We are delighted to announce our joint venture with HGP to jointly fund the high-quality Build to Rent apartments in the centre of Sheffield. HGP’s unique offering and approach to joint equity funding with Torsion has been key in bringing Hollis Croft in Sheffield to fruition.

“The team at HGP have been a highly supportive partner and we are pleased to be working with them as joint funders to deliver a sustainable building and positive outcomes for local communities in Sheffield.”

Dan Spencer, Chief Executive, Torsion Group

Torsion Construction will undertake all aspects of the on-site delivery acting as main contractor, with Torsion Developments acting as Development Managers. Completion of Hollis Croft is expected in mid-2026.

Hollis Croft is situated in the centre of Sheffield city | BTR News
Hollis Croft is situated in the centre of Sheffield city.

With Torsion Developments aiming for a 3 Star Fitwel Certification (the highest score available) at the scheme, the developer has worked closely with its Construction division to commission the services of a street artist.

The artist will incorporate a montage into one of the facades at the development to celebrate and raise awareness of Sheffield’s vibrant street art scene, further reflecting the developer’s commitment to ESG and social values.

“Our debut investment with Torsion, who have an impressive track record in delivering large-scale Living projects, highlights the role that equity funding can play in bringing much needed homes to the market.

“We expect Hollis Croft to be a sought-after development in what is a high growth UK city, offering tenants an exceptional living experience.

“This latest equity commitment continues our expansion in the UK Living space, benefitting from a slowdown in the traditional forward funding market, and is aligned with our commitment to delivering schemes that have a positive environmental and social impact.”

Katie McCarron, Investment Manager, Housing Growth Partnership

The Hollis Croft scheme represents Torsion’s second scheme in Sheffield and its first Build to Rent development. Torsion was represented by Shakespeare Martineau, with the team led by Jody Webb. Their expertise and dedication were instrumental in navigating the complexities of the transaction. HGP was represented by Shoosmiths, who provided legal support and guidance throughout the process.

Ingenious Real Estate were represented by Eversheds, whose commitment and proficiency were crucial in ensuring the transaction’s success. Debt Originators were GLPG, with Nick Swerner playing an invaluable role in closing the transaction for Torsion with Housing Growth Partnership and Ingenious Real Estate.

“I would like to extend a special thank you to all our project partners as well as the Torsion team for their exceptional work in securing the Hollis Croft development in Sheffield. This significant achievement is a testament to their hard work, dedication and expertise in the field. The successful acquisition of Hollis Croft marks a major milestone and sets a solid foundation for future growth and development.”

David Worsley, Managing Director, Torsion Developments