Construction News

11/12/2024

Keyland Sells Stake In Major Leeds Development

Keyland Developments has sold its stake in Templegate Developments Limited to joint venture partner Evans Property Group for an undisclosed amount.

Templegate Developments Limited is the driving force behind Skelton Gate, a 170-acre site in Leeds Aire Valley, located east of Junction 45 on the M1. The site is being transformed into a sustainable community with 1,800 homes, a school, public open spaces, a local centre and a food store.

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The partnership between Keyland and Evans had already secured planning approval for Phases 1 and 2, which include up to 1,100 homes and significant infrastructure. An application for Phase 3, proposing an additional 700 homes and supporting infrastructure, is currently under review.

Support and Economic Impact

The development is supported by a £20 million Home Building Fund loan from Homes England, financing infrastructure and ground preparation works across all phases. The project is expected to create more than 500 new construction and operational jobs.

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