77 New Homes Planned for Leeds Site

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    Plans for the redevelopment of a site in Leeds up to 77 new homes has the go-ahead. Leeds City Council have approved this in their bid to boost investment property in Leeds. 

    The project is being led by Keyland Developments Ltd; the property trading arm of Kelda Group and sister-company to Yorkshire Water. Furthermore, will create a new residential community on Owlcotes Road in the Leeds suburb of Pudsey, with the possibility of generating new opportunities for investment properties in Leeds.

    Well-connected location for investment property Leeds

    The location of the new residential scheme has great connectivity to Leeds city centre. It even has great connections to other West Yorkshire cities such as Bradford. The local motorway network, Leeds railway station and Leeds Bradford airport mean the rest of the UK and beyond is also within easy reach.

    The site itself spans 5.5 acres and sits adjacent to the Owlcotes Reservoir on Owlcotes Road.

     

    Developer demand

    With the strong rebound of the northern housing market following lockdown, the opportunity to develop almost 80 new homes and investment properties in Leeds is expected to be in great demand from developers.

    Oliver Salisbury, associate at Cushman & Wakefield, who launched the site, said, “The site benefits from excellent access to Leeds and Bradford and is well suited to the family housing market. We anticipate high demand from regional and national housebuilders.”

    Phil Roebuck, partner at Cushman & Wakefield added: “This is an attractive site in a very popular location making it ideal for much needed family housing.

    “The housing market has bounced back strongly post lockdown and we anticipate high levels of demand from regional and national housebuilders.”

    Benefits of two thriving cities

    Thanks to its location between Leeds and Bradford; any development on the Owlcotes Road site will benefit from the opportunities offered by both cities.

    With growing populations, thriving economies and very healthy property markets, investment properties in Leeds and Bradford are high up on many buy-to-let investors’ wishlists. Rents in Leeds rose by 4.5% during 2019, while property prices themselves grew by 4%.

    Consider Bradford, it has the eighth largest economy in England and valued at £9.5billion. As a result, over the past decade its economy has grown by 25%. It also contributes 15.4% to the growth of the Leeds City Region.

    The Northern Powerhouse project is bringing further investment to the area. Furthermore, his has resulted in improved infrastructure, better job prospects and a booming population with a growing housing demand.

     

    Find out more- investment property Leeds

    For more information about buying an investment property in Leeds or Bradford contact the experts at North Property Group today.

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