Plans have been submitted for a new 618-apartment build to rent scheme in Leeds city centre. This £150million Leeds investment will regenerate a vacant plot of land in the Knowledge Quarter of Leeds.
If approved, the new development on Kirkstall Road on the River Aire will bring with it new opportunities to invest in property to the Leeds market.
Sought-after apartments
The plans have been brought forward by property firm Glenbrook, who acquired the brownfield site at 87-89 Kirkstall Road with outline planning consent from Marshalls CDP.
The application was submitted to Leeds City Council and outlines the details plans for the new development. If approved, the project would be a major Leeds investment and would create 618 high quality build to rent apartments split across 5 buildings.
Within the blocks there will also be 10,000 sq ft of amenity space comprising a residents’ lounge, a co-working hub and a gym. Such in-demand facilities help make build to rent developments like this great places to invest in property.
Build to rent apartments are already in huge demand from Leeds tenants, and the additional 6,000 sq ft of private external terraces will help make these apartments even more attractive.
Public realm improvements
The rejuvenation of the vacant plot would also include over 3,800 sq ft of commercial space and a wealth of public realm improvements.
Daniel Roberts, senior development manager at Glenbrook, said: “Located on the waterfront, the site’s potential from a public realm perspective is huge and is an area we have focused on in our proposals with over 50 per cent of the site dedicated to landscape, including a new riverside park, cycleways and access to the waterfront.”
A new build to rent community
Glenbrook are now looking to appoint a contractor to develop the scheme, which should start in the Autumn. Plans show how the buildings will have a brick, warehouse-style façade, ensuring they mirror the area’s aesthetic.
The buildings have been designed by architect Carey Jones Chapman Tolcher and will stand between 8 and 11 storeys tall.
Roberts went on to call the project the creation of a “highly sustainable build to rent community in close proximity to one of the UK’s most vibrant city centres.”
What is property investment?
Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both. Individuals or organisations can invest in property and investments can be short, long or medium term.
Learn more
If you’d like more information on making a Leeds investment or investing in property anywhere else, contact North Property Group today.
