Regeneration scheme set to provide 388 private residential apartments in Leeds

Funds advised by Hilltop Credit Partners, a real estate credit investment manager, have completed a £4.6m bridge loan facility for the acquisition of a brownfield development site to Pascoe Homes, which is a developer of affordable homes.

In a statement Hilltop Credit Partners said: "With planning permission for 388 private residential apartments across four blocks in the Victoria Riverside development area of Leeds, 60 per cent of the development’s units are expected to be priced below current regional Help-to-Buy thresholds.

"The loan was secured through Hilltop Credit Partners’ recently launched real estate credit acquisition platform Credit Stream, a cloud-based borrower onboarding and portfolio management software application. Credit Stream allows developers to access funds up to three times faster than the traditional process and will ensure clear communication and collaboration throughout the delivery of the project."

Located on the River Aire, Victoria Riverside is part of the South Bank regeneration area. The development is part of the Leeds City Council’s regeneration plan, which calls for the delivery of more than 50,000 homes by 2033 to meet anticipated population growth.

Paul Oberschneider, CEO of Hilltop Credit Partners, commented: “We are pleased to be working with Pascoe Homes again following the success of our partnership on the Newtown Apartment scheme in Ashford. Victoria Riverside will be the first project to utilise our Fintech platform, Credit Stream, using technology to drive forward regeneration. We believe the rejuvenation of this brownfield land will deliver vital affordably priced homes in Victoria Riverside, attracting many customers as well as investors and boosting the Leeds local economy.”

Richard Pascoe, Managing Director of Pascoe Homes, commented: “Our partnership with Hilltop Credit Partners has proved to be a fruitful collaboration, so we are delighted to be working with them again on this exciting urban regeneration development. We look forward to delivering these modern sustainable homes due to be completed by September 2025.”