APG and Scape ink deal for £100m Leeds PBSA

Dutch pension fund APG and Scape have acquired a £100m student scheme in Leeds. The duo bought the consented 660-bedroom site at 44 Merrion Street from Real Estate Capital Holdings for £18.5m. The development comprises two towers of seven and 32 storeys, designed by SimpsonHaugh architects. It incorporates a mix of studios and cluster flats, with amenity space including a fitness studio, cinema and shared kitchens. Adam Brockley, co-founder and chief development officer at Scape, said: “This is going to be a truly iconic building on the Leeds skyline, and the beginning of further developments for Scape in leading academic cities both in the UK and globally.” Knight Frank advised Real Estate Capital Holdings. Images courtesy of PR