Glenbrook and Town Centre Securities have submitted detailed planning applications to develop new build to rent apartments on a Leeds riverside site. Forming part of a major £280million project to transform Whitehall Riverside, the build to rent development will create 500 new property investment opportunities for the city.
The site for the build to rent apartments is situated across from the landmark Wellington Place scheme and is currently a temporary surface car park.
If the planning application is successful, the land will be redeveloped into 500 investment properties for Leeds. The units will comprise 257 one bedroom apartments, 192 two bedroom apartments and 51 three bedroom apartments. There will also be three commercial units at ground floor.
As to be expected with a high quality build to rent development, there will also be various residents’ amenities across the ground and first floors, as well as terrace gardens overlooking the River Aire.
The wider masterplan also includes one of the largest electric vehicle charging sites in the north of the UK, which will be powered using renewable and sustainable electricity.
Danny Roberts, senior development manager at Glenbrook, said: “Whitehall Riverside represents one of the best residential development opportunities in Leeds city centre.
“The residential building is a key component of the wider masterplan and will have a transformative impact on this significant stretch of riverside benefitting residents, visitors and the wider community.”
The benefits of build to rent
Build to rent is becoming more and more popular in Leeds. These kinds of property investment opportunities can generate higher yields for landlords due to their demand from tenants. Often located in some of the most sought-after locations, build to rent developments also feature excellent amenities to ensure the best in modern living.
Build to rent schemes have plenty of other benefits for investors too. They often offer attractive payment terms and the opportunity to purchase off-plan.
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. Property investments can be owned by individuals or organisations and can be short, long or medium term.
To learn more about buying an investment property in Leeds or property investment opportunities anywhere else in the UK, get in touch with North Property Group today.