Leeds

As one of the fastest growing city in the UK, Leeds is a hotspot for property investors. The city’s economy is predicted to grow by 21% over the next 10 years, creating increased rental demand and house price growth of up to 22% by 2021. As experts in the Leeds residential market, North Property Group are perfectly placed for you to begin your investment journey.

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The Leeds Property Market

The Leeds Property Market

The Leeds Economy

The Leeds Economy

Why Invest in Leeds Property

Why Invest in Leeds Property

Types of Leeds Property Investments

Types of Leeds Property Investments

Leeds City Center Districts to Invest in

Leeds City Center Districts to Invest in

Leeds Suburbs to Invest in

Leeds Suburbs to Invest in

Tenant Demographic

Tenant Demographic

A Guide to Leeds Regeneration

A Guide to Leeds Regeneration

What to look for when Investing in Leeds

What to look for when Investing in Leeds

Future Market Predictions for Leeds

Future Market Predictions for Leeds

View Leeds Investments

View Leeds Investments

Why Invest with North Property Group?

Why Invest with North Property Group?

Exclusive to NPG

Yield:
7%

Completion Date: Q3 2022

Phoenix

Leeds
From
£142,500

The Phoenix is a fantastic Leeds Buy To Let development that stands at 17 stories tall. Phoenix will consist of 204 one bedroom apartments, 144 two bedroom apartments and 19 three bedroom apartments. …

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New launch

Yield:
6.5%

Investment Completed

Avenue Court

Leeds
From
£115,000

Brand new boutique scheme of just 8 apartments. Pre-launch prices start from £115,000 for a one-bedroom apartment including parking. Location: Chapel Allerton is very popular with a range of demograph …

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Final remaining units

Yield:
7%

Investment Completed

Riverside Apartments

Leeds
From
£142,500

Riverside Apartments An award winning development, the Riverside Apartments enjoy an excellent location adjacent to the River Aire and offers easy access to Leeds city centre. The development forms pa …

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New unit release

Yield:
6.5%

Investment Completed

Horsforth Mill

Leeds
From
£164,950

Tenanted and income generating. Yields of 6%+. Horsforth Mill is a development cut from a different cloth. Weaving cutting-edge style and craftsmanship with historical character and local heritage. Fi …

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Sold out

Yield:
8%

Investment Completed

Centenary House

Leeds
From
£127,000

Centenary house is a mixture of new build and refurbished apartments within a stunning Grade II-listed building (due to complete in 2019). A short walk from Leeds Train Station these studio, 1, and 2 …

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Sold out

Yield:
7%

Investment Completed

Green Quarter

Leeds
From
£115,950

Green Quarter is an exciting new, high specification development of 86 apartments offering the highest yields currently available in Leeds City Centre – it is a truly fantastic property investment in …

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Sold out

Yield:
6.7%

Investment Completed

Northgate House

Leeds
From
£144,500

A brand new launch in 2019 comprising 54 luxury 1 and 2 bed apartments, Northgate House is located less than 3 miles from the Universities of Leeds. There is also secure underground parking spaces ava …

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Sold out

Yield:
6.8%

Investment Completed

Public Haus

Leeds
From
£185,000

Public Haus is a stunning collection of 16 completed residential new-build apartments at an extremely attractive price point. There are 15 parking bays at the project, two of the ground floor units ha …

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Sold out

Yield:
7.4%

Investment Completed

Pearl Chambers

Leeds
From
£159,500

Pearl Chambers is a property investment opportunity like no other, as this stunning Grade II listed building conversion is in the heart of Leeds City Centre. It has an enviable LS1 postcode and offers …

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Sold out

Yield:
7.5%

Investment Completed

Ashtree Apartments

Leeds
From
£107,500

North Property Group are proud to present a brand new property investment opportunity in Leeds; Ashtree Apartments is a stunning collection of 15 residential new-build apartments at an extremely attra …

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Sold out

Yield:
7.0%

Investment Completed

No 1 Brunswick Court

Leeds
From
£125,000

No 1 Brunswick Court is located in the vibrant northern quarter of Leeds City Centre between the rapidly developing Mabgate and the highly anticipated SOYO scheme. Secure allocated parking is availabl …

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Sold out

Yield:
6.4%

Investment Completed

Mabgate Gateway Apartments

Leeds
From
£124,995

Mabgate Gateway Apartments A development not to be missed; Mabgate Gateway Apartments is one of just a few new builds currently being developed in Leeds City Centre. Situated in the Northern, and buil …

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Sold out

Yield:
7.1%

Investment Completed

North Crescent Phase 2

Leeds
From
£160,000

High Specification New Build Apartments North Crescent Phase 2 is a brand new boutique scheme comprising of 6 two bedroom apartments designed to appeal to first time buyers and investors. The property …

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Sold out

Yield:
7.6%

Investment Completed

North Crescent Phase 1

Leeds
From
£135,000

Investing at North Crescent North Property Group are pleased to exclusively offer these fantastic 2 x bedroom apartments in Leeds city centre at North Crescent Phase 1. From just £135,000, inclusive o …

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The Leeds Property Market

A Developing City

Leeds is one of the fastest-growing cities in the UK. It’s a key player in the Northern Powerhouse with large investment projects leading the way in city-wide regeneration. As well as exciting residential developments in the South Bank, Northern Quarter, East Bank and beyond, there are currently £7.35billion of commercial property schemes underway and in the pipeline. Between 2018 and 2019, overseas investment into new Leeds projects grew by 11%.

A City of Culture

Leeds is a truly vibrant city. Its flourishing cultural scene means there is something for everyone , and makes it a thoroughly exciting place for property investment opportunities.

As well as a number of galleries, theatres, cinemas and sports venues, Leeds is also home to an eclectic mix of independent shops, restaurants and bars. This makes it one of the most culturally rich places to live, work and invest.

Affordable Prices

Property prices in Leeds are less than the UK average and fall far below London , at just £225,000 compared to £595,443 in the capital. Such affordable property means high rental yields for buy-to-let investors, reaching as high as 8% in some areas. It is no wonder that Leeds was named the north’s most profitable place to be a landlord.

Leeds is also primed to benefit from excellent capital appreciation of 20% over the next few years as the city continues to boom.

Growing Population

With so much to offer, the Leeds population is booming. With over 800,000 people living in Leeds today, it is the second most populated metropolitan borough in the country. Its population has grown by an average 1.1% each year for the past nine years, and as the city gains popularity this isn’t set to slow down any time soon.

Plentiful Demand

Leeds is the jewel of West Yorkshire. It is the region’s commercial and financial hub and is one of the UK’s most exciting cities in which to live, work, and invest in property. As well as being a popular residential and employment location for people from the region, Leeds is also one of the top picks for people leaving London for a better quality of life.

This high level of demand has resulted in excellent returns from a property investment here. Rents in Leeds rose by 4.5% during 2019, while property prices themselves grew by 4%. Property prices are expected to increase by 20% by 2022, with rents growing by 18.8%

Large Workforce

A booming population means a large workforce, and Leeds is no exception. It is the largest employment centre outside of London, with an active workforce of 498,000 – almost a third of whom are key workers.

The number of people working in Leeds is expected to increase by 6.5% - or 25,000 – over the next decade. This is above the UK average of 5% and higher than most other major UK cities.

The sectors set to see the biggest workforce booms are accommodation and food at 7% growth, financial services at 9% growth, and construction at 7% growth.

Short Supply

Housing is not being built fast enough to keep up with this increasing demand. At the beginning of 2020, the population of Leeds stood at 789,000 while the number of properties in the city was less than 355,000. This gap is only expected to widen during as time goes on.

A shortfall in supply helps create some of the best conditions and opportunities for property investments, leading to growing rents, high returns, and fully tenanted properties.

The Leeds Economy

Figures and Growth

Leeds is the UK’s fastest growing city with an economy that has increased by 34% over the last decade. The city’s economy is now worth £21.3 billion per year.

The wider Leeds regional economy is worth £64.6billion and, like the city’s economy, is set to rise by 21% over the next 10 years. It is the largest regional economy outside of London and is the largest contributor to UK GDP of all the Northern Powerhouse cities.

Leeds and the wider region have one of the most stable economies in the country, ensuring a Leeds investment will be secure and profitable.

Sectors

Leeds is fast becoming known as a digital capital of Europe. There are over 1,350 digital companies in Leeds employing 10,000 people. . It has the largest number of fast-growing tech companies outside of the south east employing some of the highest paid workers in the sector.

As well as digital technologies, the key growth sectors in the Leeds economy are healthcare and medical technologies, financial and business services, manufacturing, housing and construction, retail, social organisations and the third sector.

Leeds is the largest hub outside of London for finance, business services, digital, creative, publishing and broadcasting. It is expected that the financial and business sectors will make up over half of the city’s forecasted GVA growth over the next decade.

Leeds Business Growth

The Leeds city region is home to a highly-skilled workforce of 1.4 million people, with 7 million within an hour’s drive.Commercial property prices are much lower than in other parts of the country – particularly the south east – further encouraging many leading organisations to relocate to Leeds.

There are a growing number of major companies deciding to invest in Leeds. Just some of the big names that have moved to the city in recent years are HMRC, Channel 4, and Sky.

As more and more companies move north to Leeds, the number of people working and living in the city will also increase.

What is Leeds Famous for?

Leeds is one of the most exciting cities in the UK with a long and vibrant history. It is the birthplace of many household names, famous people, and global brands.

Perhaps one of the biggest brands to come out of Leeds is Marks and Spencer. They opened their first shop in the Kirkgate Market in 1884 and are now one of the UK’s leading retailers.

Schweppes also has its origins in Leeds. The process for making fizzy drinks was invented in the city in 1767 by Joseph Priestley, which was then developed by J. J Schweppe; the German founder of the eponymous global drinks brand.

Leeds has been home to a number of famous people. Jeremy Paxman, Alan Bennett, Emmie Wise, were all born in Leeds, as were the politician Denis Healey and first world war Prime Minister Henry Herbert Asquith.

Many successful bands started life in Leeds, including Kaiser Chiefs, Soft Cell, Gang of Four, and Sisters of Mercy.

Why Invest in Leeds Property

Why Invest in Leeds Property?

High Rental Returns

There is a reason Leeds was recently named one of the most profitable place to be a landlord, and that is thanksto its stand-out levels of rental returns.

Rental yields from buy-to-let property investments in Leeds can reach as high as nearly 8% in some postcodes, particularly in and around the city centre. This is over double the UK average of 3.5%. Even the overall average rental yield in Leeds of 4.3% fairs better than the UK average.

There some truly impressive property investment opportunities in Leeds, from rejuvenated listed buildings to modern new-builds, each promising high returns on investment.

It is no surprise that rental yields are so far above the UK average once you consider the region’s affordable prices, high demand, and strong market growth.

Huge Demand

Due to the large variety of people living in Leeds, there really is a property investment opportunity for everyone here. From students, to young professionals, to families, the Leeds rental market is large, diverse and growing, and is generating a rising demand for good quality rental homes.

As more people move from London and other parts of the country to Leeds, this demand is only set to become stronger. In the five years from 2013, the number of people relocating to Leeds from the capital has increased by 58%.

New property development has been unable to keep up with this demand, making Leeds have some of the country’s best property investments for rental yields, rental growth and capital growth.

Strong Capital Growth

With a booming population, strong economy, growing industry and high levels of investment, Leeds definitely has all the right ingredients for excellent capital growth in its property market.

The Leeds property market has been one of the best in the country for capital price growth in recent years. Between 2018 and 2019, the city’s average house price rose by 4.4%, compared to 2.2% for the UK as a whole.

This trend is set to continue, with Leeds being named one of the UK’s top cities for house price growth potential. Even the twin challenges of Brexit and the coronavirus pandemic haven’t been able to weaken the city’s property market. Leeds still has one of the strongest growth forecasts at a fantastic 13.7% until the end of 2024.

Attractive Prices

The rising property prices in Leeds hasn’t led to property becoming any less affordable, with house prices here still much below the UK average. This makes Leeds a great prospect for people both new and experienced in the world of property investment.

The average property price in Leeds as of May 2020 was £169,700. This is compared to a UK average of £231,855. Even the best parts of Leeds for property investments fall far below the UK average, with city centre properties priced at an average of just £179,183, and at £216,739 in the student hotspot of Headingley.

Types of Leeds Property Investments

Off-Plan Property Investments

Off-plan property investments refer to those that are still under construction. These developments are a reliable option for any property investor, and are often cheaper than completed builds. Thanks to the large amount of development in Leeds, there are plenty of off-plan property investment opportunities to choose from.

As they are less expensive than finished developments, off-plan investments net investors higher returns when they come to sell and better yields should they rent them.

Another bonus of off-plan property investments is that the payments for them can be staggered, with investors able to stage payments over several weeks or months.

At North Property Group, we only work with the best property development companies to ensure your investment will be of the highest quality.

Residential Completed Property Investments

Another option for investors interested in new-build properties is residential completed investments. These are finished developments with units still available for purchase.

These brand-new developments have the advantage of being available now. This means they can be tenanted straight away with investors securing instant rental returns.

As with off-plan investments, the high numbers of recent property development projects in Leeds means there are some excellent opportunities to invest in completed property in the city.

Another investment option is resale or pre-owned property, which are properties that have been previously owned and lived in. However, new-builds tend to be a better choice for property investors as they are more likely to comply with up-to-date regulations and won’t suffer from any wear-and-tear.

Student Investment Property

Due to the strong demand and high rental yields that can be achieved, student properties and HMOs are a popular choice for buy-to-let investors. This is particularly true in Leeds, a city with 9 universities and 60,000 students making up 13% of the city’s overall population.

Rental yields in student properties can reach between 7% and 8% in a variety of property types. As well as new-build apartments, investors should also look at the Victorian terraces that are common in the student hubs.

Leeds boasts plenty of areas popular with students and perfect for anyone interested in a student investment property. Headingley, Burley Park, and Hyde Park are the biggest Leeds student hubs. Each of these areas has a large choice of amenities and entertainment, as well as close proximity to the universities themselves.

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Leeds City Centre Districts To Invest In

North Leeds City Centre

The north of Leeds city centre – an area which encompasses the Northern Quarter – is one of the most vibrant and trendy parts of the city.

This area of Leeds is very popular for both students and young professionals, thanks to its wealth of amenities and entertainment options. As well as being home to a large number of bars, restaurants, cafes and shops, the northern area of Leeds is full of galleries and theatres and is close to the city’s universities and hospitals.

This is a great area for new-build student property investments. Many of the new purpose-built student housing is being developed here, which is becoming increasingly popular with both UK and international students.

Average property prices for new builds in the north of Leeds city centre start at £140,000 and average rental yields are 6%. High growth and a high rate of tenancies are expected here.

East Leeds City Centre

To the east of the city centre is the Leeds Climate Innovation District. This part of Leeds is undergoing rapid development and is home to many of the city’s most exciting projects.

Just three of these projects are the stunning CITU development, which is bringing Scandinavian-inspired sustainable housing to Leeds; the ground-breaking SOYO project, the biggest housing project in Leeds for over a decade; and the Aire Park regeneration, which will provide an abundance of green space to Leeds visitors and residents.

The Leeds Victoria Gate shopping centre is also located to the east of the city centre, making it a popular place for locals and visitors alike.

This is a really exciting area for property investment opportunities. The average new build property price in this area starts at £145,000 and buy-to-let investors here can expect yields of 6% with high growth and few voids.

South Leeds City Centre

The south of Leeds city centre is where you can find the inspirational South Bank redevelopment scheme. This major project will double the size of Leeds city centre, bringing with it 8,000 new homes and 35,000 new jobs.

At 253 hectares (625 acres), the South Bank project covers an area the size of 350 football pitches. The scheme aims to redevelop this part of Leeds while retaining the area’s industrial heritage and sense of community.

There are 1,000 new homes in the pipeline at Tower Works, Iron Works and Dandara, with major regeneration work at the vacant Tetley Brewery Site planned as well.

South Bank will also be the home of the new HS2 railway station in Leeds. Trains from here will dramatically cut journey times to London to under 90 minutes, making it a popular location for professionals.

The average new build price in the south of Leeds city centre starts at £160,000. Rental yields can reach as high as 6% with high capital growth and few untenanted properties.

West Leeds City Centre

The western area of Leeds city centre is the city’s financial district. It is the home of the Wellington Place Masterplan, which will create 1.9 million sq ft of commercial, retail, leisure and residential space.

The Wellington Place Masterplan comprises a number of buildings, each connected by wide pedestrianised spaces. The unique architecture makes this part of Leeds truly eye-catching and enjoyable.

The west of Leeds city centre is an area popular with professionals, and so is a good option for people interested in property investments tenanted by this market.

Average property prices for new builds start at £150,000 here, with rental yields reaching 5.8%. West Leeds city centre is also forecast for high growth and has a low rate of voids.

Link to July article 9. Centenary House in Leeds Northern Quarter is Sold Out

Leeds Suburbs to Invest in

Kirkstall

The Kirsktall part of Leeds is one of the most up-and-coming areas of the city and a truly inspiring place to invest in property.

Kirkstall is part of what’s as the Knowledge Quarter, which gets its name from its close proximity to the city’s universities. This makes the area particularly attractive to students, but the numerous schools and parks also ensure Kirkstall is also popular with families.

With plenty of large employers in this area – including ITV, Sky and HMRC – there are plenty of young professionals here too. Kirkstall’s truly diverse population makes it one of the best choices for Leeds property investments.

The average new build property price in Kirsktall starts at £115,000, with rental yields of 6.8%.

Burley

Another Leeds district within the Knowledge Quarter is Burley. For much the same reasons as Kirkstall, Burley is an extremely popular area with all kinds of residents, and is therefore another great option for a Leeds investment.

An investment in Burley is an investment into one of the trendiest parts of Leeds. Although most of the housing is Victorian terraces, new-build developments are starting to pop up here too.

Like Kirkstall, Burley has plenty of shops and entertainment facilities, as well as green spaces including The Village Street and Burley Park. It is also close to the other popular Leeds districts of Headingley and Cardigan Fields.

The average new build property price in Burley currently starts at £115,000, and investors can expect yields of 6.8%.

Meanwood

Meanwood is a bustling suburb that has nevertheless managed to retain its village feel. It is located in the affluent northern area of Leeds with a wide variety of high-standard eateries, bars and shops serving its local community.

This is a great place for a quality Leeds property investment that will attract tenants like professionals and more affluent families. There are excellent transport links to the city centre for commuters, and two highly-regarded primary schools and plenty of outdoor space for people with children.

Meanwood is undergoing huge levels of gentrification and property prices are rising quickly. The average new build price in Meanwood starts at £150,000, with rental yields averaging 5.5%.

Chapel Allerton

The sought-after Chapel Allerton area of Leeds is situated close to the city centre, as well as universities, schools and top employers. The biggest employer is the NHS, who run Chapel Allerton Hospital and a local surgery.

Rental demand in this part of the city is high, making it one of the best places for Leeds property investments.

Chapel Allerton is often called ‘the Notting Hill of the north’ due to its wealth of trendy, independent shops, eateries and bars. It is also home to Seven Arts, an independent arts space that hosts film, theatre, dance, music and comedy.

With its vibrant atmosphere and picturesque appeal, it’s no wonder Chapel Allerton was named one of the best areas to live in 2018 by The Sunday Times.

Average new build property prices here start at £165,000, with rental yields averaging 5.5%.

Headingly

The ever-popular Headingley is a suburb of Leeds full of shops, bars, restaurants and green spaces. Its exciting and energetic atmosphere mean properties in Headlingley are very sought-after by all kinds of tenants.

Leeds Beckett University has a large campus in Headingley, making the area a particular favourite with students. But due to its good schools and quick transport connections to the city centre, the number professionals and families living here is rapidly growing too.

There is a wide variety of property types and high rental demand in Headingley, meaning there is plenty of choice for property investors in the area.

The average new build property price in Headlingley starts at £130,000, with an average rental yield of 5.9%.

Tenant Demographic

Tenant Demographic

Young Professionals

With the largest employment centre outside of London and a fast-growing workforce of almost half a million people, Leeds is one of the most popular places for young professionals. For those interested in owning a buy-to-let property tenanted by this demographic, Leeds is one of the best cities in which to invest.

Leeds is home to numerous large employers, with more and more moving their offices to the city. Leeds boasts an average salary of £28,000 and a low cost of living (a person would need to earn over 1.6 times more in London than Leeds to have the same quality of life), making it hugely attractive for young professionals.

When looking for somewhere to live, the requirements at the top of young professionals’ lists are location, quality, and good amenities. To appeal to this market, it is important to make sure a Leeds property investment has such features, with new build developments being most likely to tick these boxes.

Being close to employers and the city centre is always a good selling point when renting to young professionals. Recent findings show that outdoor areas are also important, so investing in a property either near green space or with its own outdoor facilities is recommended. Luckily, a huge number of Leeds areas and new developments satisfy these needs.

Students

Leeds is one of the UK’s top choices for both national and international students. At any one time, there are 60,000 students in the city, including 9,000 international students from 170 different countries.

With students making up 13% of the Leeds population, this city is a safe choice for property investors targeting the student demographic.

There are 9 universities in Leeds, including the globally-ranked Leeds University, which is located between Headingley and Holbeck. The campus of the popular Leeds Beckett University is also situated in this area, while Leeds Trinity University can be found in the suburb of Horsforth.

Tenancies in Leeds student property investments don’t necessarily end when studies do. Leeds has a good graduate retention rate of 30% with almost a third of people choosing to remain in the city after graduation.

A Guide to Leeds Regeneration

A Guide to Leeds Regeneration

Leeds South Bank

The Leeds South Bank development is one of the most ambitious projects ever undertaken in Leeds. Led by CEG, it will double the size of the city centre, transforming an area the size of 350 football pitches into a brand new, exciting part of Leeds to live, work, and enjoy.

The South Bank is quickly becoming one of the best places in Leeds for a property investment, especially for the buy-to-let market. There are over 8,000 new homes being built here, so there are plenty of property investment opportunities at the South Bank site.

With 35,000 new jobs being created in the area, as well as fantastic amenities including numerous shops, restaurants, bars and fitness facilities, rental demand at Leeds South Bank will be high. It is also the proposed site for the new HS2 railway station, making it a prime location for commuters.

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Northern Quarter

Rejuvenation is the main form of regeneration at the Northern Quarter. Many of the area’s historic Victorian buildings – such as Hamilton House & Merchants House – have undergone major redevelopment with projects which have completely transformed the area. Other infill projects have created new-build property developments, perfect for Leeds property investments.

With huge levels of investment into the Northern Quarter, it is now one of the most vibrant parts of Leeds.

The Northern Quarter is home to many of the city’s cultural hubs including the Belgrave Music Hall. Shoppers can visit the Grand Arcade for independent retail outlets, or the Victoria Gate shopping centre for famous high street brands.

This part of Leeds is very popular with both students and young professionals, and is a great option for property investments targeted at these demographics. It is where you’ll find most of the city’s purpose-built student accommodation, including the VITA Student, Unite Student, and YPP developments.

Soyo

Strategically located in the heart of the Leeds cultural quarter is the SOYO project. This development scheme will create a brand new community in Leeds with a focus on heritage, culture, and creativity.

Led by Moda Living, the five-year SOYO project champions the Leeds independent scene and will transform the area into a new place to live, work and play. Once complete, SOYO will be home to 106,000 sq ft of offices, 35,000s q ft leisure space, over 700 residential units, a multi-storey car park, 7,500sq ft retail facilities, a medical centre and a number of welcoming public squares.

SOYO is perfectly placed to be extremely popular with all kinds of residents, but especially students and professionals. Leeds City College has a campus in the SOYO development, while the Department for Work & Pensions, Department of Health, Leeds College of Music and Leeds Playhouse have premises next-door.

Climate Innovation District

The Leeds Climate Innovation District is leading the way in building zero-carbon neighbourhoods for healthier, smarter and better connected cities.

This is a ground-breaking project and a key part of the Leeds South Bank scheme. The £125million development by Citu will completely transform 15 acres of brownfield land into an environmentally-friendly part of the city with 500 new sustainable homes, as well as manufacturing, leisure and office spaces.

As well as environmental innovation, community is another focus of this project. Its affordable housing and nearby schools will bring families back into Leeds city centre. Local job opportunities will also attract professionals to live in the district’s Scandinavian-inspired, eco-friendly homes.

Aire Park

Another important part of the wider South Bank regeneration project is Aire Park.

Led by Vastint UK, Aire Park will develop 3.5 hectares of old industrial space into a stunning local park surrounded by new commercial and residential space. The project will bring up to 500 new homes, 1,500 sq mt of office space, 700 sq mt of fitness facilities and a 1.1 hectare city park to the centre of Leeds.

Located in the heart of the South Bank area, Aire Park will become one of the new cultural hubs of Leeds. The Tetley Art Gallery – which itself is the result of the regeneration of the historical Tetley brewery building – is located here, while Aire Park itself will be home to a new outdoor theatre.

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Ironworks

Like the Climate Innovation District, Ironworks is another sustainable housing project in the heart of Leeds. Located in Holbeck and part of the wider Holbeck Urban Village regeneration scheme, Ironworks encompasses a real village feel and is yet just a 7 minute walk to Leeds train station.

68 striking, modern homes have been built at Ironworks, each energy-efficient and environmentally-friendly. There are numerous independent eateries, pubs and shops in the area, as well as fitness facilities and a community of creative businesses.

Mustard Wharf

Mustard Wharf is a new-build development especially designed for modern life. Situated in the South Bank area, this building of one, two, and three bedroom boutique apartments is perfect for professional tenants wanting an exceptional living standard in the centre of Leeds.

The amenities on offer at Mustard Wharf include an onsite gym, superfast broadband, work areas, outdoor roof areas, private dining spaces, and even an exclusive clubhouse. Every apartment is completed to the highest quality, with designer furniture and tasteful decorative choices.

Wellington Place

Already one of the employment hubs of Leeds, the continued development of Wellington Place alongside the River Aire will further develop a district for people to work, play, and live.

Wellington Place is already home to some of the city’s biggest employers, including Sky Betting & Gaming, HMRC and Shulmans. With plans to increase office space by adding a further six buildings to the area, even more top companies will be able to move to Wellington Place.

There will also be a huge variety of fitness and leisure facilities, shops, bars and restaurants at Wellington Place. A 200-apartment development will house Leeds residents, while visitors can stay in a new 230-bedroom hotel and park in the 500-space multi-storey car park.

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HS2

A brand new city-centre train station is currently being built for the much-publicised HS2 railway line. Located in the new South Bank district, the HS2 station further establishes Leeds as a key Northern Powerhouse city and a business hub.

The main benefit of HS2 in Leeds is the drastic reduction in journey times. As well as cutting journey times between Leeds and other key northern cities, the travel time between Leeds and London will be reduced by 30 minutes.

HS2 will also bring a new £80million depot to the Leeds region. Alongside the University of Leeds’ new institute for high speed rail, this depot will spearhead engineering research in the UK.

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Leeds Hospital

This £450million project will radically revamp the Leeds General Infirmary site into new adults’ and children’s hospitals, as well as creating a 650-space multi-storey car park.

Spanning 990,000 sq ft over 15 storeys, this 10-year project will transform healthcare in Leeds. Located in the city centre, the new hospital will strengthen ties between medical facilities, universities and the council. This will boost the city’s position at the forefront of research, health innovation and learning in the UK and continue to ensure Leeds is a top choice for investments.

The modern, sweeping façade and bright and airy interior spaces will help create a sense of calm for patients. The hospitals are due to open at the end of 2025.

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Leeds Trinity Shopping Center

Leeds Trinity Shopping Centre is a project that has already been completed and proves the success of development and investment in Leeds.

Opened in 2013, the centrally-located Leeds Trinity Shopping centre transformed a neglected shopping precinct into 1,000,000 sq ft of modern retail space. The new shopping centre offers a first-rate shopping experience, with over 120 stores, a cinema, and a unique food space hosting fixed vendors and ‘pop-up’ outlets.

With 23 million visitors each year, Leeds Trinity Shopping Centre is a very popular destination with the residents of Leeds and people further afield. The development also created 4,634 new jobs and now adds £209million to the city’s annual economy.

Victoria Gate

Following in the footsteps of Leeds Trinity Shopping Centre is the Victoria Gate shopping centre. Opening in 2016, this £165million development created a new covered shopping centre in the Grade II listed Victoria Quarter. The area is known as the ‘Knightsbridge of the North’ due to the wealth of luxury brands that have stores here.

The new Victoria Gate shopping centre is home to major names such as John Lewis & Partners, a number of eateries, a large multi-storey car park, a casino, and a public space at Templar Square. It is finished with a stunning stained glass roof that adds to its grand atmosphere.

The 658,000 sq ft space has 10,000,000 visitors each year and was named the world’s Best Shopping Centre at the internationally renowned MIPIM Awards in 2017.

New Leeds Station

Another completed project is the revamp of the Leeds railway station. This £161million redevelopment was part of a £500million transport masterplan for Leeds and was finished in 2019.

The project updated the Leeds Station building with a new roof, a new platform, and the pedestrianisation of the area outside of the station. A number of existing tracks and platforms have also been upgraded.

With more and more people travelling to and from Leeds by rail, the station’s redevelopment was a key part in making Leeds a world-class modern city. Leeds station is the busiest in the north and the third-biggest in the UK outside of London. Around 30,000,000 passengers use its services each year.

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Headrow Transport Initiative

The Headrow Transport Initiative is a £20.7million scheme that will upgrade pedestrian, cycling, and public transport infrastructure in central Leeds. The project will improve congestion, reduce delays and improve bus reliability in the city.

The investment into Leeds transport infrastructure will improve the quality of life for people using its roads and paths. Safety will be enhanced for pedestrians and cyclists with new pedestrian crossings and cycling lanes. Bus users will see improvements in waiting facilities and fewer delayed services.

Another aim of the Headrow Transport Initiative is to improve the Leeds experience for visitors and locals, making it a more attractive place to work, live, and enjoy.

What to Look for when Investing in Leeds

1. Location

Location is one of the most important parts of investing in property. With so many opportunities for property investments in Leeds, you need to be sure you’re investing in the right place.

The kinds of questions you need to be asking yourself are: What kind of tenant do you want to rent to? Do you want to invest in an up-and-coming area or somewhere more established? Are you looking for a new-build buy-to-let property or something older?

To find out where would be right for you, take a look at our guide to the best areas to invest in property in Leeds.

2. Current Local Projects

Once you’ve decided on where in Leeds you want to invest in property, it’s a good idea to look into the redevelopment projects that are happening there.

A large number of quality projects identifies an area as being in prime position for regeneration and rejuvenation, all which can have a very positive effect on rental yields and capital growth.

Large scale investment in an area will also lead to that part of Leeds becoming more desirable for tenants, ensuring your property investment stays fully tenanted.

3. Rent Comparables

After you’ve found a property to invest in, you should research how the expected rental yields there compare to other rental properties in the area. Look at the rental prices of properties of a similar spec understand whether your estimated rents are achievable and what you can expect to generate.

You can also compare rents for similar buildings in different parts of Leeds to double-check you’re investing in the right part of the city for you.

4. Service Charge and Ground Rent

As well as rental yields, it’s also important to check the service charges and ground rents you’ll be paying.

These charges often apply to new-build apartments and other leasehold properties. Ground rents are paid to the freeholder – the owner of the land on which the building sits – and is usually around £50 a year. Ground rents are paid annually, half-annually, or quarterly, and only need to be paid if you’re formally requested to by the freeholder.

There are two types of ground rents: fixed, which remain the same price for the duration of the lease period; and escalating, which increase during the lease period.

Service charges differ by property and pay for the general upkeep and repairs to the building. These usually rise each year so make sure you have found out what they are and budgeted for any increases.

5. Developer Track Record

The final thing you need to check before you complete your Leeds property investment is the developer’s track record. A good developer is one with experience, integrity, and who already own the land. This is especially important if you’re investing in an off-plan new-build property, as you may lose your deposit should the developer go bankrupt and fail to complete the project.

A good developer will also ensure an excellent build finish. An investment into a higher spec, better quality property will save you money on repairs in the long run. It will also be in more demand by tenants and will generate better rental yields.

At North Property Group we only partner with the best developers, so you can be assured that any investment through us is a secure investment in quality.

Future Market Predictions for Leeds

Leeds is one of the UK’s top property investment hotspots, and is favourably-placed to continue that way.

In recent years Leeds has had some of the strongest house price growth in the country, rising by 4.4% between November 2019 and November 2020, compared to 2.2% for the UK as a whole. Even the global coronavirus pandemic couldn’t slow the Leeds property market, with demand quickly bouncing back to pre-lockdown levels.

The future looks even brighter for property investments in Leeds. With average property values forecasted to rise by 17.1% by 2023, Leeds was recently given first place on JLL’s property price growth forecast – knocking Manchester off the top spot for the first time in four years.

Forecasts for rental yields in Leeds are also positive. Rents increased throughout the city in 2019, with JLL predicting a further average growth of 3.5% by 2022. It is no wonder Leeds is one of the best UK cities to be a landlord.

Huge levels of investment, regeneration, and “northshoring” – the term for employers moving their premises out of the south east and further north – have made Leeds one of the UK’s most desirable cities. With such high levels of demand here, the Leeds market has some of the best opportunities for property investment now and will do for years to come.

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V2 Mansions

For a low-risk Leeds property investment, look no further than V2 Mansions. These 14 high-spec, boutique-style units were redeveloped in 2019 and are now fully tenanted.

Located in the popular Chapel Allerton suburb of Leeds, every detail of Public Haus has been thoughtfully designed for contemporary living. From the restored historic features to the stylish modern kitchens, apartments here are optimised for tenant satisfaction and long-term tenancies.

Investors into V2 Mansions can expect net yields of almost 6%. Unit prices start at £145,000 for a one-bedroom apartment with parking.

Victoria Riverside

This award-winning development, also known as Waterfront Apartments or Riverside Apartments, is situated in the South Bank regeneration scheme alongside the River Aire.

Starting at just £142,500 and with expected yields of up to 7%, these high-spec apartments are sure to have high tenant demand.

With a stunning waterside location, low ground rents and a proven developer, these apartments are a fantastic option for buy-to-let property investments in Leeds. Victoria Riverside is due to complete in Q3 2020.

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Northgate House

An exclusive development of just 54 luxury units, Northgate House is one of the most sought-after new-builds in Leeds.

Strategically-located in an investment hotspot just 3 miles from the Universities of Leeds and close to major employers, rental yields here are expected to reach almost 7%. Apartments start at £144,500 and come fully fitted with premium kitchens, luxury bathroom suites and stylish lighting. Secure underground parking for all apartments is also included in the purchase.

Ready now and built by an established developer, Northgate House is one of the best Leeds property investments whether you’re interested in renting to students or professionals.

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Public Haus

Already proving itself very popular with property investors and owner-occupiers, Public Haus is located just a stone’s throw from the city centre in the South Bank area of Leeds.

The 16 high-end, modern two-bedroom apartments start at £188,500 with low service charges and expected yields reaching almost 7%. The stunning views of the Leeds city centre skyline, private terraces, and onsite parking, mean these high-spec, fully-finished properties are already in high demand.

Public Haus was completed at the end of 2019 and there are now just a few units remaining for property investment here.

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Why invest with North Property Group?

North Property Group is one of the few remaining independently owned sales, lettings and investment agents in England. This allows us to work exclusively for the benefit of our clients helping them to buy, sell, let or rent properties across the UK.

Our experienced property professionals are committed to finding you the best solution for your property investment. We take a truly customer-centric approach and will be there with you for every step of your investment journey: from the initial search, to the management of your investment and through to when you’re ready to sell. We are the only company that will manage your investment every step of the way.

North Property Group is trusted across the globe to provide high-quality property investment opportunities across the UK. Whether you’re a new or established investor, we will find the right property for you.

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