{"componentChunkName":"component---template-cache-tmp-supporting-the-repositioning-of-a-leeds-residential-and-pbsa-scheme-js","path":"/case-study/supporting-the-repositioning-of-a-leeds-residential-and-pbsa-scheme","result":{"pageContext":{"page":{"id":"Y2FzZS1zdHVkeToxNzMwMA==","title":"Supporting the Repositioning of a Leeds Residential and PBSA Scheme","content":"<p><strong>Overview</strong></p>\n<p>Hampshire Trust Bank (HTB) provided a £13.5m facility to support the repositioning of the Kirkstall Brewery campus in Leeds, refinancing existing debt and partially repaying a previous lender.</p>\n<p>The 18-month facility is secured against a 664-bed former student village in Kirkstall, comprising a 442-bed parcel with full planning consent for conversion into 151 Class C3 apartments, alongside 202 retained Purpose Built Student Accommodation (PBSA) beds. The structure gives the borrower time to manage and stabilise the asset while maintaining flexibility across a range of potential exit routes.</p>\n<p>&nbsp;</p>\n<p><strong>The Challenge</strong></p>\n<p>The borrower needed a funding structure that reflected the complexity of the site and the fact that there was no single fixed outcome for the scheme. With planning already in place and progress made across parts of the site, the priority was to create time and flexibility for the next phase without forcing an early decision on exit.</p>\n<p>&nbsp;</p>\n<p><strong>Key challenges included:</strong></p>\n<ul>\n<li>Refinancing existing debt while partially repaying a previous lender</li>\n<li>Supporting a mixed-use repositioning strategy across PRS and PBSA elements</li>\n<li>Structuring the facility around multiple viable exit routes rather than a single defined outcome</li>\n<li>Allowing time for asset management and stabilisation while preserving flexibility</li>\n</ul>\n<p>&nbsp;</p>\n<p><strong>The Solution</strong></p>\n<p>HTB provided an 18-month £13.5m facility designed to support the repositioning of the site while maintaining optionality. The structure refinanced existing debt and gave the borrower time to progress asset management activities, stabilise income and determine the most appropriate route forward as the scheme evolves.</p>\n<p><span style=\"text-decoration: underline;\">Key features of the deal:</span></p>\n<ul>\n<li>£13.5m facility secured against a 664-bed former student village in Leeds</li>\n<li>18-month term to support asset management and stabilisation</li>\n<li>Full planning consent in place for conversion of the 442-bed PRS parcel into 151 Class C3 apartments</li>\n<li>202 retained PBSA beds creating flexibility across student and residential uses</li>\n<li>Multiple potential exit routes, including refinance or disposal of the PRS element, sale or long-term leasing of the PBSA accommodation, or a whole-site disposal</li>\n<li>No development planned during the loan term, with PBSA refurbishment funded by borrower equity</li>\n</ul>\n<p>&nbsp;</p>\n<p><strong>Execution</strong></p>\n<p>The transaction was introduced by Johnny Grassick, Associate Director at GLPG. The deal was led by Alexia Evans, Lending Director at Hampshire Trust Bank, supported by Olivia Emmett.</p>\n<p>HTB structured the facility around the site’s existing progress and future optionality, including planning consent granted by Leeds City Council in November 2025 and steps already taken to reposition the wider campus. These included the disposal of an eastern parcel to an institutional investor and a long-term lease agreed with Leeds City Council across part of the retained accommodation.</p>\n<p>&nbsp;</p>\n<p><strong>The Outcome</strong></p>\n<p>The facility enabled the borrower to refinance existing debt, partially repay a previous lender and continue repositioning the site without being forced into an early exit decision. The structure supports the next phase of the scheme by giving the borrower time to manage the asset, stabilise income and retain flexibility as market conditions and delivery plans evolve.</p>\n<p>&nbsp;</p>\n<p><strong>What This Demonstrates</strong></p>\n<p><span style=\"text-decoration: underline;\">Flexibility in Repositioning</span></p>\n<p>This transaction highlights the importance of funding structures that support repositioning strategies where the focus is on asset management, stabilisation and optionality rather than immediate development.</p>\n<p><span style=\"text-decoration: underline;\">Structuring Around Multiple Exit Routes</span></p>\n<p>HTB’s approach shows how a facility can be designed to preserve flexibility where there is more than one viable route forward, rather than forcing a single outcome too early.</p>\n<p><span style=\"text-decoration: underline;\">Supporting Complex Existing Assets</span></p>\n<p>The deal demonstrates HTB’s ability to support borrowers working through complex existing schemes with planning in place, multiple uses and evolving delivery strategies.</p>\n<p>&nbsp;</p>\n<p><strong>Client &amp; Partner Feedback</strong></p>\n<p>Johnny Grassick, Associate Director at GLPG, said:</p>\n<p>“There wasn’t a single, defined exit here, but that reflects the strength of the site. With planning in place, a number of viable routes forward and progress already achieved on parts of the scheme, including the lease to Leeds City Council, the key was putting a structure in place that didn’t restrict those options too early. This gives the borrower the flexibility to build on that momentum and take the right route as the scheme evolves.”</p>\n<p>&nbsp;</p>\n<p><strong>Conclusion</strong></p>\n<p>This case highlights HTB’s ability to structure flexible finance for complex repositioning scenarios where the priority is not immediate development, but giving the borrower time to manage an asset and determine the best route forward. By combining refinancing support with a structure that preserves optionality, HTB enabled continued progress at the Kirkstall Brewery campus while supporting a range of potential residential and PBSA outcomes.</p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n","uri":"supporting-the-repositioning-of-a-leeds-residential-and-pbsa-scheme","slug":"supporting-the-repositioning-of-a-leeds-residential-and-pbsa-scheme","seo":{"metaRobotsNofollow":"follow","metaRobotsNoindex":"noindex","opengraphAuthor":"","opengraphDescription":"Overview Hampshire Trust Bank (HTB) provided a £13.5m facility to support the repositioning of the Kirkstall Brewery campus in Leeds, refinancing existing debt and partially...","opengraphImage":null,"metaDesc":"","canonical":"","opengraphTitle":"Supporting the Repositioning of a Leeds Residential and PBSA Scheme - HTB","twitterDescription":"","twitterTitle":"","twitterImage":null,"title":"Supporting the Repositioning of a Leeds Residential and PBSA Scheme - HTB","opengraphUrl":"https://uat-wp-www-htb-co-uk.htbplc.co.uk/case-study/supporting-the-repositioning-of-a-leeds-residential-and-pbsa-scheme/","opengraphSiteName":"HTB","opengraphModifiedTime":"2026-08-14T09:47:49+00:00"}},"breadcrumb":{"location":"/case-study/supporting-the-repositioning-of-a-leeds-residential-and-pbsa-scheme","crumbs":[{"pathname":"/","crumbLabel":"HTB"},{"pathname":"/case-study/","crumbLabel":"case-study"},{"pathname":"/case-study/supporting-the-repositioning-of-a-leeds-residential-and-pbsa-scheme/","crumbLabel":"supporting-the-repositioning-of-a-leeds-residential-and-pbsa-scheme"}]}}},"staticQueryHashes":["1239430513","1586857859","1772891646","229476007","2634765651","3264027306","3649515864","493905975","63159454"]}