Leeds based private equity real estate firm Khalbros and Torsion Group, a strategic JV partnership, is set to create a visionary £1bn GDV mixed-use regeneration scheme, one of the most ambitious city centre developments in the UK, following the acquisition of the Eastgate Quarter development.
Located in the heart of Leeds, adjacent to Victoria Gate, Eastgate Quarter had previously been earmarked for a retail-led masterplan which has been reshaped in recent years. The JV partnership is now progressing a significantly larger, residential neighbourhood and more future-focused scheme designed to meet the evolving needs of modern city life.
“Eastgate Quarter is a once-in-a-generation opportunity to reshape one of the most strategically located city centre sites in the UK. Together with our investors and joint venture partners, we are committed to delivering a bold and transformational scheme with sustainability, placemaking and design excellence at its core.
“What has been vital to us and Torsion throughout this process, being Leeds based companies, is that the scheme is being brought to life by predominantly Leeds based outfits. This is about more than development. It is about creating the Leeds of the future, by the people of Leeds.”
David Khalastchi, Joint Managing Director, Khalbros
The masterplan will create a fully integrated, mixed-use community, combining purpose-built student accommodation (PBSA) and Build to Rent, alongside workspaces, hospitality, leisure, and lifestyle amenities – all minutes from Leeds train station and the city’s commercial core.
The project is expected to play a central role in the next chapter of Leeds’ urban growth, contributing significantly to housing delivery, inward investment and job creation across construction, enterprise and the wider economy.
“This is a landmark moment not just for our company but for Leeds. The opportunity to help create a new neighbourhood in such a pivotal part of the city centre is incredibly exciting. Eastgate Quarter will stand as a symbol of collaboration and progress.
“We are proud to play a part in shaping a destination that will support Leeds’ growth and leave a lasting legacy for future generations.”
Dan Spencer, Founder & CEO, Torsion Group
Khalbros and Torsion Group’s partnership provides a unique vertically integrated business model spanning investment, development, construction, and operations, enabling it to drive meaningful, long-term impact in Leeds.
The partnership is committed to shaping the city’s future, ensuring the scheme aligns to Leeds’ broader growth and development goals, reinforcing a shared vision for sustainable progress.
Sustainability is at the heart of the approach, with a strong focus on minimising environmental impact and supporting Leeds’ ambitious sustainability targets.
“Hammerson and Leeds City Council have transformed this part of the city and we are honoured to take on that baton and create something very special.”
Michael Khalastchi, Joint Managing Director, Khalbros
Legal services for the joint venture in this acquisition was provided by a team led by Judy Fawcett and James Speed at Shoosmiths.
“Unlocking and securing a new future for this key area of our city centre is testament to the ambition and vision we have in Leeds. The regeneration of Eastgate Quarter represents a major milestone for our city, with this landmark investment unlocking new homes, jobs and commercial space, helping to shape a vibrant, inclusive and sustainable future for Leeds. We look forward to working closely with the joint venture partners to bring their ambitious vision to life”
Councillor James Lewis, Leader, Leeds City Council
