There are currently many property investment opportunities in Leeds. Early plans for a 43-storey skyscraper in Leeds city centre have been met with enthusiasm by the city’s councillors. The tower, which is in its ‘pre-application’ stage, would be a new addition to the current tall building developments around the Merrion Centre.
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The new Leeds skyscraper will house almost 700 students, adding to the stock of high-quality student investment properties in Leeds. There were some concerns from the Leeds City Council’s City Plans Panel that the global covid pandemic could reduce the amount of students in the city. Which would thereby making this new housing unnecessary. But representatives of the applicants Olympian Homes were able to reassure the panel of a back-up plan.
It is unlikely the Leeds student property market will see any decline. But Olympian Homes assured the councillors of contingency plans if this did happen. The skyscraper would be converted in much-needed residential space, creating more opportunities for residential investment properties in Leeds.
In addition to the 694 student rooms, the building will offer around 9,100 sq ft of dedicated amenity space. This is for students to relax, socialise, and study.
It should be noted that in order to answer the growing calls from city residents for increased outdoor space, they will be creating an external roof terrace as part of the development.
Yorkshire’s tallest building
Furthermore, once complete, this 43-storey skyscraper will become one of the tallest buildings in Yorkshire. The existing 19-storey Tower House office building will be demolished. This is to allow this new development to be built on the site.
It will tower above the current tallest buildings in the region. The 112-metre Bridgewater Place in the Leeds district of Holbeck.
Moreover, Olympian Homes is also currently redeveloping another site into a new skyscraper. Altus House is a 37-storey student accommodation block. It is being built at the former site of Hume House in the Leeds Northern Quarter. This is close to Leeds Beckett University.
A positive statement
Councillor Peter Gruen called the new skyscraper a “positive statement” for the city. He went on to say that, “It is very well placed in a cluster of tall buildings.”
And the compliments continued. Councillor Caroline Gruen calling the scheme “impressive, well proportioned, apparently needed and attractive in many ways.”
Councillor Al Garthwaite said he liked the scheme. He stated, “I am in favour of it. Letting the current areas where there are a lot of students living revert to a more balanced population is better in many ways.”
Councillor Neil Walshaw reflected the views of many when he told the panel “let’s get on with it.”
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