HGP teams up with Torsion for £53m Sheffield BTR project

Leeds-based Torsion Group has formed a joint venture with Lloyds-backed Housing Growth Partnership to deliver a £53m development at Hollis Croft in Sheffield. The jv will provide funding to bring forward a 234-flat build-to-rent scheme in the city. The Hollis Croft development will comprise of seven floors to the west through to 17 floors to the east. Torsion Construction will undertake all aspects of the on-site delivery, acting as main contractor, with Torsion Developments acting as development manager. The project represents Torsion’s second scheme in the city and first BTR scheme in Sheffield. Completion is expected in mid-2026. Dan Spencer, chief executive at Torsion Group, said: “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.” Katie McCarron, investment manager at HGP, added: “Our debut investment with Torsion 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, benefiting 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.” Image from PR