This funding has been provided to CityLife and Torsion Group which have formed a joint venture to deliver the scheme on a 0.93-acre brownfield site in the city.

Called Sky Gardens, the scheme will include 306 residential units across both the tower and a three-storey Grade II listed mill which will be refurbished.

The development - located on Water Lane - will offer residents a gym, cinema room and reception lounge, with two commercial units totalling 3,907 sq ft also being created.

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To recognise the mill’s heritage, Maslow Capital has said it will “preserve and sensitively restore” the mill to “seamlessly” integrate part of its design into the wider development. This building alone will accommodate 22 residential units.

The transaction was introduced to Maslow by Grey Arrow, with both Citylife and Torsion being repeat borrowers of the firm.

“CityLife and Torsion Group bring extensive expertise to this project, and we are confident their combined vision will drive the scheme’s success,” said Matt Pigram, senior director origination at Maslow Capital.

“This £54.4m facility deepens our partnership with both developers, bringing our total support to a combined 896 homes across three major Leeds projects—an effort that underscores our commitment to addressing the region’s ever-growing need for high-quality housing.”