HBD, part of Henry Boot, has sold its £80m GDV Mabgate Yard development in Leeds to Cheyne Impact Real Estate.
The deal follows the launch of Cheyne’s impact BTR scheme, Poplin, in Manchester last year, where 35% of homes are voluntarily reserved for local key workers at discounted rents and all rental increases are capped.
HBD secured planning permission for Mabgate Yard in September 2023. The scheme will provide 310 homes as well as amenities including co-working and creative spaces and new green space.
Since acquiring the site in December 2020, HBD has provided space for several local charities, including Zarach and MAP Charity, which transformed the building with a 26 ft mural.
Ed Hutchinson, managing director at HBD, said: “The development occupies a key strategic gateway site between St James’ Hospital and Leeds city centre and has real potential to create a thriving community in one of the city’s most popular emerging neighbourhoods.”
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