Work starts on next phase of SOYO Leeds for Hestia

Construction starts on the next phase of Caddick Group’s SOYO Leeds Build to Rent scheme for Hestia, the residential platform for Federated Hermes.

Caddick Group's interior view of its SOYO Leeds Build to Rent development in Leeds for Hestia, the residential platform for Federated Hermes | BTR News
Caddick Group's interior view of its SOYO Leeds development for Hestia, the residential platform for Federated Hermes.

Construction work begins on two new Build to Rent apartments for Hestia, the residential platform for Federated Hermes Limited. In the SOYO district of Leeds, the SOYO Leeds scheme is scheduled for completion in late 2023. TT&G acted for Federated Hermes in the agreement to forward funded the next stage of Caddick Group’s SOYO Leeds scheme. Caddick Group businesses – Caddick Developments, Caddick Land and Caddick Construction – will work with the project team to take the scheme from blueprint to delivery.

Designed by Leeds-based DLG Architects, the two adjoining buildings have sustainability credentials that put the scheme on the Net Zero Carbon pathway – by using techniques to reduce embodied and operational carbon. SOYO Leeds has planning permission to deliver 331 homes – a mix of one, two and three bedroom apartments. 

The two new buildings will be delivered alongside a public realm which includes green spaces and a public square in the fast-evolving cultural quarter of the city. SOYO Leeds will also include 12,000 sq. ft of retail, restaurant and ground floor amenity space and outdoor courtyards.  

“Projects like SOYO represent a huge investment in Leeds. This development will deliver new homes, commercial spaces and new landscaped areas – all things that will improve the physical built environment. As part of the team developing Caddick’s wider ESG approach, I’m also hugely proud that we’ve been able to deliver the ambitious social value targets we set for ourselves, in spite of the challenges of the pandemic”

Myles Hartley, MD, Caddick Developments

SOYO Leeds is using the opportunity to highlight the positive local impact of the development so far, which includes nearly 500 local Leeds residents being brought into employment on the first phase of SOYO – New York Square. The latest phase for Hestia will support a further 2,000 construction jobs, with the creation of ten new apprenticeships.

“Having established Hestia’s presence in Manchester, Liverpool and London, we are excited to bring the brand to Leeds. We are focused on delivering high quality mid-market, sustainable housing across the UK and in doing so are helping to deliver a meaningful impact on local communities. SOYO Leeds is an ideal location to achieve these goals.

Matt Chillingworth, Senior Investment Manager, Federated Hermes

Federated Hermes is a global investment manager with $669bn in assets under management as of December 31, 2021. The company provides world-class active investment management and engagement services to over 11,000 institutions and intermediaries. Caddick Group has over 40 years’ experience and encompasses several companies over the built environment sector. The Group has over 30,000 units in its Built to Rent pipeline.