US multifamily giant commits to £300m project

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Lisbon St, Leeds Marrico

US multifamily giant commits to £300m project

Work will start this summer on a £300m mixed-use scheme to transform the former International Swimming Pool site in Leeds.

Development partners Marrico Asset Management and Helios Real Estate have brought forward the scheme’s start date to July after striking a deal with a US private rental operator Cortland Group.

The entire Lisbon Street scheme consists of a cluster of four high-rise buildings and gained full planning last year.

The partners will now start work on the first phase of 600 build to rent flats in 33 and 22 storey towers.

Lisbon Street site will also eventually incorporate 550 student beds in a 24-storey block and a further two phases for hotels and offices.

Marrico and Helios said it would now focus on unlocking these next stages of development at the site.

Richard Bland, partner at Marrico Asset Management, said: “We are delighted to have signed this deal with Cortland for our flagship scheme in Leeds.

“This will be one of the city’s landmark buildings and we believe will set new standards in BTR accommodation in the city.”

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