Privately owned company Torsion Group and Housing Growth Partnership (HGP) have announced a joint venture (JV) for a residential development in Sheffield, England, UK. 

The £53m ($67.79m), 234-bed build-to-rent scheme, located at Hollis Croft, will comprise one and two-bedroom apartments, as well as studios.  

Torsion Construction will serve as the main contractor for the development, which is expected to be completed by mid-2026, reported Construction Enquirer.  

The scheme will include amenities such as a residents’ lounge, home cinema, gym, co-working spaces, meeting rooms, and storage space for bicycles.  

Legal representation for Torsion was provided by Shakespeare Martineau while Shoosmiths assisted HGP.

Eversheds represented Ingenious Group Real Estate, and GLPG served as the debt originator, with Nicholas Swerner from GL Capital contributing significantly to the transaction’s closure. 

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Torsion Group CEO Dan Spencer said: “We are delighted to announce our joint venture with HGP to jointly fund these high-quality, build-to-rent apartments in the centre of Sheffield.

“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.” 

In January this year, Torsion and Zenzic Capital announced a new £147m purpose-built student accommodation JV.