Developer Olympian Homes and investor Cain International said the 191 metre Cirrus Point scheme will be “the tallest PBSA building in the world and the tallest building in Leeds.”
Demolition is now complete at the Merrion Way site allowing main construction to start by RG on the 660-bed project which is due for completion in 2026.
Comfirmation of RG as main contractor came as Cain International completed a £500m PBSA forward-funding deal with Israeli insurance firm Menora Mivtachim Group that will support the delivery of five major schemes across UK university cities.
Cain is also working with Olympian in York where GMI has been awarded the 275-bed Rialto House scheme.
James Lindridge, COO & Development Director at Olympian Homes said: “We are excited about delivering these high-quality assets in partnership with Cain International, RG construction and GMI Construction in an environment of strong economic headwinds.
“Olympian has a strong pipeline of opportunities, and this marks the delivery phase for two assets on our land book and a new partnership with Cain International.”
With Fusion Group Cain will be delivering a further three schemes in Liverpool, Nottingham and Manchester.
Richard Pilkington, Senior MD and Head of European Real Estate at Cain International, said: “This is an important milestone for our ‘beds’ strategy and further demonstrates our confidence in the sector’s attractive fundamentals and potential for growth with reputable developers.
“With over 350,000 beds needed nationally to meet the expected demand across the UK’s largest university cities, we believe there is significant opportunity in this market and look forward to delivering and expanding on our strategy through new and existing partnerships.”