Construction on a former mill in Leeds is continuing to gather pace. The major redevelopment works will breathe new life into historic grade II-listed mill buildings. Therefore this will give investors new opportunities to buy an investment property in the city.
A Historic Transformation
The eight-figure development project will transform the historic 10-acre Stonebridge Mills and surrounding land into a brand new place to live. The work is being led by property developer Rushbond Group, who are partnering with Leumi UK, the London-based subsidiary of Israel’s biggest international bank.
Once complete, there will be 112 new residential units available for owner-occupiers or to buy as an investment property. They will comprise a mix of two, three and four-bedroom units. 30 of these will be converted from the mill itself, with the remaining 82 being new-build family homes.
The transformation will breathe new life into the Stonebridge Mills site, which has some of its buildings on Leeds City Council’s Heritage at Risk register. As a previously neglected part of Leeds, the project will help preserve an important part of the city’s history while providing much-needed housing for its booming population and increasingly high demand.
In addition to the houses themselves, a £40,000 package of infrastructure improvements in and around the Stonebridge Mills site have also been given the go-ahead.
Improved pedestrian footways and crossings, revised traffic measures and better access to bus stops are all included in plans for the works.
Such infrastructure improvements will add to the desirability of the Stonebridge Mills site as a place to live, as well as a place to buy an investment property in Leeds.
A Fruitful Partnership
Managing Director at Rushbond, Jonathan Maud, called the regeneration project “a great opportunity to provide high quality new family homes to Leeds.”
Rushbond and Leumi UK have a fruitful history of partnering on successful development projects, such as the Majestic in Leeds city centre.
Richard Martin, Relationship Manager at Leumi UK, expressed his enthusiasm at again joining forces with Rushbond. He said, “I’m delighted to be furthering our relationship with Rushbond and, in doing so, helping to bring a new lease of life to this derelict site.”
Jonathan Maud displayed mutual excitement, stating, “Given our long-standing relationship, Leumi UK was a natural fit for us. And Richard and the rest of the team play an important role in ensuring the delivery of this milestone project. All within an excellent structured funding solution.”
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