Summary:
- Hampshire Trust Bank has provided a £13.5 million, 18-month facility to refinance and support the repositioning of the 664-bed Kirkstall Brewery campus in Leeds, which includes a 442-bed parcel with planning consent for conversion into 151 private rented sector apartments and 202 retained PBSA beds.
- The loan structure prioritises asset management and stabilisation, offering flexibility for multiple exit strategies such as disposal or refinance of the PRS element, sale or long-term leasing of PBSA accommodation, or whole-site disposal, with no development planned during the loan term.
- The transaction builds on prior progress including the sale of an eastern parcel to an institutional investor and a long-term lease with Leeds City Council expected to deliver around £2.5 million in annual savings, reflecting a strategic approach to managing and unlocking value from existing PBSA assets.
Original article:
