A £150 million funding agreement has been completed to allow the construction of almost 1,000 student flats in York and Leeds.

London property developer Olympian Homes has secured £150m from London finance firm Cain International to deliver 275 student flats at Rialto House in Fishergate, York, plus 660 student flats at Cirrus Point in Leeds.

The Rialto House development covers more than 80,000 sq.ft GIA and  replaces the former Mecca bingo hall, which is now demolished.

The development, a short walk from both the city centre and the University of York, will feature a gym, yoga studio, cinema, games room, co-working, group dining facilities and landscaped courtyards.


Leeds-based GMI Construction has been awarded the construction contract, which has just begun with completion for Academic Year 2025.

The Leeds scheme features 660 beds over 255,000 of GIA in a 45-storey building. It will be the tallest building in Leeds and the tallest block of purpose built student accommodation (PBSA) in the world at 191m. Work on that stared last month, with completion for Academic Year 2026/27.

Olympian Homes has welcomed the ‘pro-active and practical support’ of the planning departments of both City of York and Leeds City Councils in helping bring the schemes forward.

The developer says the funding deal highlights the confidence in bringing forward international investment into the PBSA sector, demonstrating its resilience during a challenging economic climate.

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 & 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.”

Mark Slatter Chairman of Olympian said: “This is truly a great piece of teamwork between York and Leeds City Councils, Olympian Homes and Cain International to deliver the funding for these landmark developments in very difficult property funding circumstances and would like thank everyone involved.”