£100m Leeds Merrion Project gets the Green Light

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    Leeds city council has given the go-ahead for a £100million residential project in the city. Planning permission has been granted for a 32-storey student accommodation building at 44 Merrion Street, in Leeds city centre. This is the latest large property investment in Leeds, that is contributing to an overall boost in investment. 

     

    Brand new development- property investment Leeds

    The scheme will replace the 1970s office block that was previously used by the bank Santander. The new building is being designed by award-winning architects SimpsonHaugh. They have previously delivered ground-breaking student residences in Manchester, Newcastle and Coventry.

    The overall project is being led by Merrion Street Leeds, a partnership between Real Estate Capital Holdings and development management firm Bloombridge.

    As well as the 32-storey building, the project will also develop a further two new buildings of four and ten storeys each. The 32-storey tower will rise to an eye-catching 99.8 metres, and will house 660 students in total.

     

    Modern student living

    The Merrion Project will give Leeds students an experience of contemporary student living. Around 77% of the apartments will be part of a “cluster”, in which five bedrooms with en-suite bathrooms share a kitchen and dining space. There will also be a communal living area shared with the adjacent cluster.

    There will also be studio apartments available for those seeking a self-contained alternative. 5% of all bedrooms will be wheelchair accessible.

    All residents will have access to the wealth of onsite communal amenities, including an “arcade-style” ground floor space as well as a courtyard, mezzanine and roof terraces.

    At the street level, there will be space for new arts, cultural and retail outlets, as well as on-street improvements such as new trees.

     

    A city for students

    Leeds is one of the UK’s top cities for students. Student accommodation is therefore a popular choice for people making an investment property in Leeds.

    Leeds has the highest concentration of higher education facilities outside of London. It has four main universities producing almost 40,000 graduates each year. International students from almost every country in the world choose to study in Leeds, often with large scholarships.

     

    Positive outlook

    The approval of Merrion Project is great news for Leeds as a whole, and particularly for investment properties in Leeds. It proves the continued growth and resilience of the city and its property market.

    As Richard Cutler, partner at Bloombridge, said of the project, “[it] signifies a strong response to the uncertainties created by COVID-19.”

     

    Find out more- Investment Property Leeds

    To find out more about student or other kinds of investment properties in Leeds, contact North Property Group today.

     

    Call Us:
    Leeds: +44 (0) 113 4264 444
    Manchester: +44 (0) 161 2449 060

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