Housing association The Guinness Partnership has secured the biggest deal in its 129-year history with an acquisition of a 600,000 square foot site at Hunslet Road in Leeds from X1 Developments. Leeds-based property experts North Property Group had already agreed sales of over £3 million within the first 10 weeks of launch, making them the highest selling worldwide agent on the scheme.
The deal includes full planning permission to build 928 homes, as well as a number of commercial outlets. Guinness has promised that a minimum of 35% of the homes will be for the affordable housing market – a huge increase on the 5% allocation of affordable homes in previous plans for the site.
Part of the purchase was paid for by Homes England, who have granted Guinness funds to begin building 4,500 new affordable homes throughout England by 2022.
Encouraging Signs For The Leeds Market
The plans have been welcomed by business and government alike. Oliver Banks, Managing Director of North Property Group said, “The purchase displays the faith some of the largest associations have in the Leeds market. It’s great to hear that the acquisition is the biggest in The Guinness Partnership’s history and it further reinforces the strength and demand within the Leeds housing market.”
The Chief Executive of The Guinness Partnership, Catriona Simmons, added, “This site, within the Leeds South Bank Regeneration and Innovation District, is a fantastic opportunity for us to create over 900 homes in a vibrant new neighbourhood in Leeds. We intend at least 35% of the homes to be affordable.”
Councillor Richard Lewis, Leeds City Council’s executive member for regeneration, transport and planning, concludes: “The Guinness Partnership’s proposals are fantastic news for Leeds. That it is committing to its biggest ever scheme here and intending to deliver so many new affordable homes is a real mark of confidence in our vision for the South Bank, where we want to ensure regeneration and growth benefits all the city’s residents.”
There is already major investment underway at Leeds South Bank with plans for new secondary and further education facilities, a new city park and the renewal of the city centre’s transport system.
If you’re interested in the South Bank area or the wider Leeds marketplace, North Property Group offer unparalleled knowledge of the city. For anyone seeking to purchase their own home or a buy-to-let investment in the Leeds area, you can get in touch with North Property Group by emailing [email protected] or phoning 01134 264 444.