L&G, Glenbrook in £140m funding for Leeds BTR

Legal & General (L&G) and Glenbrook announced the funding of a £140 million residential development in Whitehall Riverside in Leeds, committing to the delivery of 500 new homes.

This marks the third scheme funded by L&G in Leeds and will bring the number of new rental homes it has delivered in the city to over 1,000.

The investment follows L&G’s acquisition of Mustard Wharf BTR site in 2017 and Tower Works in 2021 – both of which sit within Legal & General Investment Management’s (LGIM) Build to Rent Fund.

Glenbrook is leading the development of the Whitehill Riverside scheme, with completion expected in April 2026.

“The Whitehall Riverside development will be made up of residential apartments, all designed for rental occupancy,” said L&G.

“The development consists of a mix 1, 2, and 3-bed flats and includes resident facilities such as a concierge, lobby, gym, podium gardens and terraces. The project resides on the banks of the river Aire and includes ground floor retail and 60 parking spaces.

“Responding to enduring regional demand for high-quality rental property, the development sits within a new residential and business district in Leeds City Centre.

“As part of the wider masterplan for Whitehall Riverside, the development will act as a catalyst for the creation of a new mixed-use riverside destination – aiming to cement its position as the leading place to live and work in Leeds City Centre.

“The development’s location has been carefully considered to ensure that residents benefit from the diverse and growing employment opportunities, as well as its cultural destinations, local amenities, and strong transport links – including Leeds Central station, which is within a five-minute walk.

“With ESG at its core, the impact of the Whitehall Riverside scheme – both on the environment and local community – has been prioritised in design proposals.”

L&G were advised by Savills and Glenbrook were advised by CBRE.