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Citylife secures £32.8m loan from Maslow for Leeds residential scheme

Maslow Capital has completed a £32.8m loan — agreed on a 28-month term — to assist Citylife with the development of a 223-unit residential project in central Leeds.

The 16-storey Springwell Gardens scheme will be located close to Leeds Train Station, the city centre and CEG’s new £350m Holbeck urban village.

Residents will benefit from a range of amenities, including private south-facing roof terraces and a residents-only garden.

Contractor Morgan Sindall has been appointed to deliver the project, which is expected to be completed in 2023.

Citylife has also agreed a forward-sale of around 60% of the apartments to private investors via its adviser Aspen Woolf.

Matt Pigram, partner and head of deal origination at Maslow Capital, said: “We are delighted to support Citylife with the development of their project in the centre of Leeds.

“The Citylife team has a real passion for the city, and we couldn’t be more thrilled to support it with its forward-thinking, ambitious project that is capable of enhancing the living experience of all its residents.”

Gareth Morgan, managing director at CityLife, added: “It has been a pleasure to collaborate with Matt and the Maslow team on this complex funding package and we are incredibly proud to bring forward this prestigious project to the city of Leeds.”