Leeds-based developer Priestly Homes has announced plans to transform a derelict building into luxury apartments, with penthouses worth £1million. If the £31million regeneration project is approved, it will be the first development to bring seven-figure apartments to the Leeds property market. Find out more about these high rental yield areas:
A Unique Redevelopment Project
The redevelopment is of the grade II-listed building on Great George Street in the Leeds Northern Quarter – one of the most popular high rental yield areas of the city.
The building, which was once a high school and then offices, has stood empty since 2018. But Priestly Homes hope to transform it into luxury one, two and three-bedroom apartments in the centre of Leeds.
Nathan Priestley, CEO of the Priestley Group, said, “As a Leeds-based business, it’s great to be able to re-energise one of the grandest buildings in the city centre and transform it into must-have homes.
“We excel at breathing new life into heritage buildings with ambitious plans that are meticulously realised.”
Luxurious Living Spaces
The penthouses will boast 3,000 sq ft of living space with luxury fittings and breath-taking views of Leeds. But even people living in the smaller apartments will enjoy up to 1,500 sq ft of space and the one-of-a-kind historic features throughout.
All units will be fitted with large, original windows, smart home technology, designer fixtures and fittings and underfloor heating.
And to top it off, almost half of all the apartments will come with a private outdoor area. Perfect for the increasing numbers of people who desire outdoor space with their homes.
Nathan Priestley explained, “We have focused on spacious, luxurious designs and going beyond the normal requirements for private outdoor spaces in listed conversions, reflecting the current work-from-home situation, and how we see city centre living evolving in the future.”
A New Residential Community
If approved, this new development will bring some truly one-of-a-kind investment opportunities to the Leeds property market in a particularly high rental yield area of the city.
And it will create a thriving new residential community for the people living there too, with high demand likely. Just some of the onsite amenities for residents to enjoy are a private gym, a concierge service, and private roof garden with a hot tub, indoor and outdoor kitchen and a bar area.
Work can begin immediately once plans for the project have been approved. Priestley Homes expect work to be finished by late 2022.
To find out more about high rental yield areas in the Leeds property market, including current developments and opportunities to invest, contact the Leeds property experts at North Property Group today.